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How divorce has benefited some couples financially

Couples in California who are not mega-rich are sometimes stuck in a situation where they make too much money to qualify for certain types of aid but do not make enough money to live comfortably while paying their bills. This has caused some couples to consider a strategic divorce.

A strategic divorce would involve getting divorced on paper in order to qualify for filing for taxes as single individuals or in order to get financial aid in certain circumstances. For example, if a couple were to divorce on paper, they may be able to save a lot of money on taxes since they would file as single individuals.

Some couples who have children have seen the financial benefits of divorcing on paper in order to have one of the parents qualify for financial aid for their child's education. The custodial parent would need to have low assets and low income when filling out the application for federal student aid and be in a position to qualify for it.

When one of the marriage mates is ill and needs nursing home care, Medicaid could be useful. However, the couple may have too much in assets in order to qualify for this. Some couples have decided to divorce on paper in order to qualify for Medicaid and avoid exhausting their retirement accounts and other assets in order to pay for the medical care they need.

While a strategic divorce could offer some financial benefits, it is important for couples to seriously consider any ramifications that could come from divorcing in order to benefit financially. Some couples turn to an attorney in order to get legal advice. The attorney may be able to provide information regarding a high asset divorce, child custody, spousal support and other matters relating to the end of a marriage.

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Law Offices of Catherine A. Schwartz
6877 Magnolia Avenue
Riverside, CA 92506

Phone: 951-335-0510
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