Thursday, 29 June 2017

Over 50 and broke: How to divorce without financial ruin

Paul Wilson knows better than most how divorce can deplete a person's finances. He has been through three marriage splits.

"First time in 1997, it was about $30,000 for me to fight to minimise my losses," he said.

"As the marriage had been two years and one week, everything had to be halved, even though I bought the house, I paid the mortgage, I paid the utilities and rates and insurances, I bought a car and was paying it off, I owned two cars prior to relationship which I still had.

"Everything got cut in half. Everything seemed very unfair, it was a cash-grab from the other side. I went in with a whole lot of personal items and $40,000 deposit for a house. I spent $30,000 on a lawyer and came out with less than $30,000 after settlement."

from
http://www.stuff.co.nz/business/94199926/Over-50-and-broke-How-to-divorce-without-financial-ruin

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