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Posts tagged "Divorce"

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.

Divorce and insurance

Couples in California who decide to get a divorce are likely to find that the process can be long and complicated, resulting in number of practical, financial and emotional issues for everyone involved. Even though divorce can take a stressful toll, it is important that both spouses do not ignore insurance coverage. They should make sure to reevaluate all of their insurance policies to understand how their coverage may change after the finalization of the divorce and how to prepare for those changes.

How to remain professional during a divorce

Ideally, a person who is going through a divorce would be able to keep it from having an impact on his or her professional life. However, it may be necessary to take time off from work for a court date or to otherwise deal with matters related to the divorce. Furthermore, an individual's employer may receive requests for information from the court or other parties related to the proceeding.

Silent relationship killers that lead to divorce

California residents may be interested in learning about a couple of silent relationship killers. Many people know that traits like sarcasm, contempt and criticism can predict divorce. Relationship ruiners can be difficult to spot, so being aware of them could help some couples before it is too late.

Tasks to complete after a divorce

Once a divorce in California is finalized, there may still be more work ahead for the ex-spouses. For example, fomer wives and husbands who are changing their names will need to visit the DMV and notify Social Security and other agencies. Exes may need to be removed from medical insurance, and some people might need to obtain new health insurance.

Claiming dependents after a divorce

California residents should expect for their tax returns to be scrutinized by the Internal Revenue Service if they claim a dependent who is also claimed by another filer. This can occur in situations in which separated or divorced parents both want to get dependent-related tax credits.

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