Sad but true: Female breadwinners are often overburdened at home. But it doesn’t have to be that way. Here are tips (from a divorce expert who’s seen it all) on how to regain some balance at home.
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At a time when divorce is becoming less common for Millennials, so-called “gray divorce” is on the rise for Baby Boomers. According to the Pew Research Center, the divorce rate has roughly doubled since the 1990s for American adults ages 50 and older. But why? The climbing rate stems from a host of societal factors, and it has significant financial implications, especially for women.
Change in Divorce Stigma
In today’s world, women are more empowered and educated, and the reduced divorce stigma is giving women more freedom to walk away from a less-than-ideal or emotionally draining situation. With general attitudes toward divorce becoming more relaxed, it is easier to walk away, especially when your peers are doing the same thing.
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Divorcing a millionaire is not something for the faint of heart. Because there are so many assets, you have the additional burden of understanding the many and often complicated financial holdings.
If you or your spouse is a high-powered executive, you most likely have executive compensation. Over 15 million employees have stock options and restricted stock plans, and this number is expected to balloon in the coming years.
According to Avani Ramnani, one of the top divorce financial planners in the country, “Corporations use employee stock plans to motivate, boost morale, spur productivity and retain their best talent. More frequently than ever before, COVID cash-strapped companies are awarding stock options and restricted stock to their key employees.” Corporate compensation committees turn to these incentive compensation plans to help bridge the gap and retain the best talent despite their shrinking profits, making them even more prevalent in divorce negotiation