Representatives from the Chinese side say they think it likely that Chinese President Xi Jinping will attend the G-20 meeting later this month. But in order to reach a trade...China Economyread more
Software engineers straight out of college often make six-figure salaries, not counting equity compensation.Technologyread more
Wall Street, though, is clamoring for a rate cut, with an 85% chance of a move in July and a 61% probability of three reductions by year's end.The Fedread more
A company spokesperson said the outage was the result of a "an internal technology issue" and was not security related.Retailread more
The flattening of the yield curve is exuding a bad omen for the stock market if history is any guide.Marketsread more
Using MIT's living wage calculator, CNBC Make It mapped out the minimum amount a single parent must earn to meet their basic needs without relying on outside help in every...Earnread more
Hong Kong Chief Executive Carrie Lam announced at a press conference on Saturday that a contentious bill to allow extraditions to mainland China has been put on hold.China Politicsread more
Stratolaunch, the world's largest airplane, which flew once, is up for sale, sources familiar told CNBC.Investing in Spaceread more
Transparency is key… or is it? With the first-ever non-transparent, actively managed exchange-traded fund receiving approval from the SEC, "ETF Edge" goes straight to the...ETF Edgeread more
Mired in a crisis over its best-selling 737 Max plane, Boeing could hand the spotlight over to its rival Airbus at the Paris Air Show.Airlinesread more
A new update to the Apple Watch called watchOS 6 will notify you if the environment you're in is too loud and could damage your hearing.Technologyread more
It's no surprise that your likelihood of divorce is somewhat based on your relationship with money.
Money is the leading cause of stress in a relationship, according to data from Northwestern Mutual's 2018 Planning & Progress Study. The survey of over 2,000 adults found that 41% of people said financial anxiety impacts their relationship with a spouse or partner.
And the more money you have, the more problems you face (or so said the late rapper Notorious B.I.G.).
That, in turn, has meant more couples are calling it quits, according to the American Academy of Matrimonial Lawyers. Divorces tend to pick up rather than decrease during an economic boom, the organization said.
"It's easier to swallow when your net worth is higher," said Michael Stutman, a past president of the New York Chapter of the AAML and a founding partner of the Manhattan-based matrimonial law firm of Stutman Stutman & Lichtenstein. Stutman said he has also seen a rise in high-net-worth divorce filings.
"Essentially, people feel there's more money left over after they dissolve their marriage and split up the spoils," he said.
By an almost 2-to-1 margin, lawyers polled by the academy said they typically only see a decline in the number of divorces during national economic downturns. When forced to weigh damaged marriages against tight budgets and uncertain financial outlooks, many spouses seem more willing to try and wait it out, the AAML found.
"It's easier to write a check for $5 million when you have $10 million than it is to write a check for $50 when you have for $100," Stutman said.
However, splitting a household in two is hard enough. Divisions get even trickier when there are complicated assets to value and distribute -- such as art, wine and antiques or silverware. "There is a risk with any type of collectible for which there is not a ready exchange," Stutman said.
That's when turning to a qualified professional is key, he added. "If you are not confident in your own view of what things are worth, then you need to rely on the opinion of people who are trained."
In addition, division of property is typically a non-taxable event. The same now goes for alimony payments, which are no longer tax-deductible for the payor and considered taxable income for the payee under the Tax Cuts and Jobs Act.
One divorce calculator shows that there could be less money to go around under the new tax rules — which may put more pressure on the valuations of illiquid assets.
Ideally, you'll reach a common ground on those valuations. If not, you may be forced to sell your stuff whether you want to or not.
That was the case with real estate developer Harry Macklowe and his now ex-wife, Linda, who were ordered to unload their blue-chip art collection, worth around $700 million, when the couple's respective experts couldn't agree on what the collection was worth, according to Bloomberg.
"There is nothing that will provide you with fair market value like the fair market," Stutman said.
But it doesn't matter how wealthy you are, being forced to say goodbye to a Warhol will sting.