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Posts tagged "Divorce"

Gray divorce harder to recover from financially

The number of divorces involving couples over 50 years of age has more than doubled in the past 20 years. Approximately 25% of people who divorced during the year 2010 were more than 50 years old compared to only about 10% in 1990. California residents who are considering divorce after 50, sometimes referred to as gray divorce, are likely to face different challenges than their younger counterparts.

Tips for keeping a home during divorce

Some people in California who are going through a divorce might want to keep their home. This could be for sentimental reasons, or it might be because the person wants their children to have the stability of remaining in the same house. Usually, keeping the home means buying out the other spouse. The first step is to determine what the house is worth and the equity each person has in the home.

How parents can help their children after divorce

There can be a lot of animosity following a divorce between parents in California. However, exes should try to avoid speaking unfavorably about one another in front of their children. This is one of several things they can do to help make the adjustment period less difficult for the family. It is important that children feel they can openly have a relationship with both parents, and they should feel free to express their love for both parents and stepparents.

Key considerations when remarrying later in life

Over 40% of recent marriages bring together people in California and across the country who were married previously in the past. In many cases, people are wary about combining finances because they have already gone through the difficult property division stage of divorce in the past. In other cases, people may be concerned about how best to balance the needs of their children in a blended family, especially when adult children are involved. This is increasingly common, because remarriage is particularly popular among older Americans.

Divorce and finances

One of the aspects of divorce that divorcing California couples have to contend with is how it can affect their finances. However, there are some steps they can take to mitigate the negative financial impact of a divorce.

Study looks at the correlation between wedding dates, divorce

Some California couples might assume that the most romantic day of the year for a wedding is Valentine's Day. However, some Australian researchers counter that this may not necessarily be the best date for those who want a long-lasting marriage. University of Melbourne researchers found that getting married on special days might be connected to a higher divorce rate.

Documents to gather before divorce

According to statistics published by the American Psychological Association, between 40 and 50 percent of marriages end in divorce. For California couples, one major hurdle to clear before divorce is to know the financial situation. As soon as divorce becomes a real possibility, it is important for the parties to gather certain documents and information. Among the most important documents to have are tax returns, a lifestyle analysis and a net worth statement.

Dealing with the family home during a divorce

Deciding what should be done with the family residence is often a thorny issue when couples divorce, and this could be especially true in community property states like California. Spouses often have a great emotional attachment to homes where they have watched their children grow, and they often wish to remain in them even when doing so could cause them great financial hardship. The family residence is also usually the most valuable asset the couple owns.

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