Fullerton Family Law Blog

Parents who get a divorce might struggle with money issues. In fact, finances might be one of the main reasons a marriage ends. Despite this fact, it may be better for people's co-parenting relationship if they try to work out issues between themselves instead of going straight to a legal solution.

This issue arose for one man who was struggling to pay child support. He was also in the process of attempting to restructure debts as part of filing for bankruptcy. However, when he told his wife he would be unable to pay child support for a time, she did not wish to cooperate informally. Instead, she filed with the attorney general's office.

When people of any age choose to divorce in California, there can be a range of expected and unexpected financial consequences, especially ones related to retirement. These consequences can be particularly significant for people going through a "gray divorce," which is a term that refers to individuals aged 50 years and older ending their marriages. While the divorce rate for Americans as a whole has flattened and remained stable, the same cannot be said for people in this demographic group. Between 1990 and 2010, the divorce rate for people over 50 years old doubled.

The financial considerations can also be particularly important for people in this age group. For one thing, people who divorce over the age of 50 are closer to retirement, so all of their financial decisions are more directly tied to this period of their lives. In particular, retirement accounts are often the largest single asset divided during a divorce settlement. When people divorce closer to retirement, they have less time to rebuild their accounts as a single worker. However, according to a study by the Center for Retirement Research at Boston College, the effects of divorce on retirement are not limited to those who divorce close to when they stop working.

Some people believe the common divorce myth that judges always prefer giving custody to the mother in divorces. In reality, the gender of the parents should not factor into how the courts allocate parental rights and responsibilities. Both parents often get to play an active role in the life of their children and share parenting time and decision-making power.

For dads facing divorce with minor children in California, it's important to think about the children and protecting your relationship with them as you plan your approach to divorce. Familiarizing yourself with common custody practices and California laws can help you work toward a positive custody outcome in your divorce.

When there's an income disparity among a married California couple, a divorce could lead to an alimony settlement. Although spousal support originally arose during a time when wives lacked the financial means to support themselves, modern laws look at spousal income instead of spousal gender. In 1979, the Supreme Court of the United States ruled that family law would view alimony decisions in a gender-neutral light. The result has been that ex-wives now sometimes pay ex-husbands alimony. Given the historical context, women often do not expect this financial burden when ending a marriage.

Although ex-husbands still pay the bulk of spousal support, a poll conducted by the American Academy of Matrimonial Lawyers revealed that 45 percent of respondents reported more cases of women paying spousal support over the last three years. In the past, courts established spousal support as a lifelong obligation, but it no longer has to be permanent.