Kajko, Weisman & Colasanti, LLP

January 2016 Archives

What happens when business partners divorce?

According to the Small Business Association, small businesses account for roughly 54 percent of total U.S. sales and employ 55 percent of the U.S. workforce. Many entrepreneurs spend years sacrificing and working hard to grow their businesses. For those business owners who are married, a spouse may play the role of business partner, executive or financial investor.

Study: why women age 50 and older suffer the hardest financial hit post divorce

At any age, going through a divorce can result in an individual suffering a major financial blow. With time, however, most divorcees are able to bounce back and work to rebuild a healthy savings to ensure for their future financial security. However the results of the recent "Marital Biology, Social Security and Poverty" study indicates that a strong post-divorce financial rebound is often much more difficult to achieve for individuals who are age 50 and older, and particularly for divorced women age 50 and older.

When a divorce necessitates a return to work

In a recent blog post, we discussed the challenges that divorcees who previously relied upon a spouse's income for financial support may face in the wake of a divorce. In these types of cases, a divorce attorney will work to secure alimony. It's important to know, however, that the family courts view alimony as merely a way to provide support to a financially disadvantaged party while he or she works to obtain the education or training necessary to find a job and become financially secure.

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