Sue Moss speaks with Bloomberg News on new restrictions on U.S. executive bonuses and how it might complicate divorce settlements.
Bloomberg News: Bonus Pay Changes Put ‘Massive Wrench’ in Wall Street Divorces
Restrictions on U.S. executives‟ bonuses are complicating divorce settlements, increasing legal bills and raising the prospect that some may have to transfer children out of private schools or sell second homes.
Sue Moss suggests that working spouses should weigh in on giving a percentage of their compensation to their ex-spouses instead of committing to a specific number in case their compensation declines. She recommends, for spouses who do not work in the financial industry, that they establish floors for minimum monthly payments acknowledging that more divorce cases will go to court instead of settling because of compensation changes.
Restrictions on U.S. executives‟ bonuses are complicating divorce settlements, increasing legal bills and raising the prospect that some may have to transfer children out of private schools or sell second homes.
Sue Moss suggests that working spouses should weigh in on giving a percentage of their compensation to their ex-spouses instead of committing to a specific number in case their compensation declines. She recommends, for spouses who do not work in the financial industry, that they establish floors for minimum monthly payments acknowledging that more divorce cases will go to court instead of settling because of compensation changes.
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