High net-worth couples often have unique special circumstances that need to be addressed during divorce. In a typical divorce, the question of support usually centers on how two separate households can be supported when the single-family unit struggled financially. In high net-worth divorce cases, the question is not how basic living expenses will be met, but rather how much is enough?
Depending on the state you live in, there are generally two basic methods of dividing assets in a divorce: equitable distribution and community property. California is a community property state, which means the court will divide the couple's community assets equally. Any asset obtained or income earned during the course of the marriage is considered community property unless other agreements have been made, such as a prenuptial agreement, or some particular exception to that characterization exists in the law.
Circumstances often change that can affect your ability to continue making child support payments in the amount ordered by the court. Losing your job is one of the more common reasons that may cause a parent to investigate his or her ability to modify the child support order. While the short answer is "yes," you can ask to modify your child support payments after losing your job, there are some important considerations of which you should be aware.