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My loss

sivers.org

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Re: My loss

#11

Post by sivers »

dkersten wrote: post #10
cageface wrote: post #5

Side note - anybody thinking about getting married should look into the financial implications of getting divorced. It shouldn't stop you, but you should at least understand you're putting at least half of everything you own on the table and potentially more. I think you don't completely understand marriage unless you've been divorced. It may just be confirmation bias but I've been thinking about heading off in a muc…

Or make sure you understand the intricacies of asset protection and hide as much of your wealth away, out of reach of your ex-spouses lawyers.

Strong asset protection should never require hiding!

You should always be able to have all assets fully revealed, and still be protected. Never depend on secrets.

Re: My loss

#13

Post by yef »

cageface wrote: post #5

Side note - anybody thinking about getting married should look into the financial implications of getting divorced. It shouldn't stop you, but you should at least understand you're putting at least half of everything you own on the table and potentially more. I think you don't completely understand marriage unless you've been divorced. It may just be confirmation bias but I've been thinking about heading off in a muc…

My understanding is that half of everything you earned and bought while married is on the table. Stuff you owned or earned before the marriage is not on the table unless you want it to be. Non-marital property vs. marital property.

I'm not a lawyer.

Re: My loss

#14

Post by cageface »

sivers wrote: post #2

The HN take-away: Behind what looks like a success could actually be a failure. (And probably vice-versa.)

Also, make sure you're pursuing your own definition of success and not one you picked up from somebody else: http://www.ted.com/talks/alain_de_botton_a_kinder_gentler_ph...

(De Botton's books on these and similar subjects are worth a read)

Re: My loss

#15

Post by cageface »

yef wrote: post #13
cageface wrote: post #5

Side note - anybody thinking about getting married should look into the financial implications of getting divorced. It shouldn't stop you, but you should at least understand you're putting at least half of everything you own on the table and potentially more. I think you don't completely understand marriage unless you've been divorced. It may just be confirmation bias but I've been thinking about heading off in a muc…

My understanding is that half of everything you earned and bought while married is on the table. Stuff you owned or earned before the marriage is not on the table unless you want it to be. Non-marital property vs. marital property. I'm not a lawyer.

I think it depends on the state but you're right that's how it works in CA.

Of course that means that if you're the only one working in a marriage that's half of your 100%. If you get married young you probably won't be starting with much.

Re: My loss

#16

Post by daeken »

I'm really hoping this happens for me. Not the bad part, of course; I'm hoping I've seen the worst of that. My startup is about to launch its flagship product on Tuesday after a year and a half of work, but we (myself and one of my cofounders that I live with) are currently packing up to go live with our respective parents, as the money's simply gone. It's been the most stressful 6 months of my life, as we've seen the slide into foreclosure and haven't been able to do anything about it, and it's all happening at the most important point of our company's life. I'm looking for the uptick from this, and I'll do what it takes to make it happen.

Re: My loss

#17

Post by edanm »

sivers wrote: post #2

The HN take-away: Behind what looks like a success could actually be a failure. (And probably vice-versa.)

For anyone that didn't click-through to it, Derek links to his favorite fable, which is well worth a read (one of my favorites too).

http://sivers.org/horses

He also wrote a song about that fable which is great, check it out here: http://sivers.org/mp3/DEREK_SIVERS-Still_Too_Soon_to_Tell-19...

Re: My loss

#18

Post by honopu »

yef wrote: post #13
cageface wrote: post #5

Side note - anybody thinking about getting married should look into the financial implications of getting divorced. It shouldn't stop you, but you should at least understand you're putting at least half of everything you own on the table and potentially more. I think you don't completely understand marriage unless you've been divorced. It may just be confirmation bias but I've been thinking about heading off in a muc…

My understanding is that half of everything you earned and bought while married is on the table. Stuff you owned or earned before the marriage is not on the table unless you want it to be. Non-marital property vs. marital property. I'm not a lawyer.

is it and shouldn't it be a net worth upon marriage vs a net worth upon filing for divorce?

The yearly earnings of the breadwinner shouldn't matter, they both squandered that while married, right?, if they didn't well let's split it then, as that is fair?

Re: My loss

#20

Post by cageface »

honopu wrote: post #18
yef wrote: post #13

Earlier quoted context omitted.

My understanding is that half of everything you earned and bought while married is on the table. Stuff you owned or earned before the marriage is not on the table unless you want it to be. Non-marital property vs. marital property. I'm not a lawyer.

is it and shouldn't it be a net worth upon marriage vs a net worth upon filing for divorce? The yearly earnings of the breadwinner shouldn't matter, they both squandered that while married, right?, if they didn't well let's split it then, as that is fair?

You also split debts. I had a friend that split up with his wife but got saddled with half of the debts she ran up running her own business that he had nothing to do with. This is why it's very important to document the date of separation because that's what's used to decide who gets what.
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