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divorce Archives

Divorce for older adults influences retirement planning

These days, divorces among people over age 50 in California are not uncommon. Although older adults might be beyond concerns about how the end of a marriage affects young children, financial issues require extra attention. Retirement savings will likely be divided between departing spouses, which could delay plans of retiring.

Business owners and divorce

When California business owners decide to divorce, they may be worried about the effect that the end of their marriage will have on their entrepreneurial interests. It may be particularly important for them to develop special protections in order to ensure that they, and others involved in their business, will not face massive upheavals as the result of a divorce. This is especially true for business owners seeking outside investments in the company, as venture capitalists and others may require safeguards.

The basics of preparing for a divorce

Most couples in California don't actually "plan" for a divorce. Even so, there are times when marital problems become so great that untying the knot becomes an option. The first thing couples are encouraged to do when preparing for a divorce is determined if ending a marriage is the right choice. This is because the process of splitting can be stressful, financially impactful, and, in some instances, costly and time-consuming.

Reasons for getting a divorce

There are a variety of reasons why a California couple might have irreconcilable marital problems. A list that ranks common divorce reasons was created based partly on a study conducted by the National Center for Biotechnology Information.

A high-asset divorce can be complicated

Of all the various legal issues couples must deal with as they move forward to end their marriages, it cannot be said that those with significant assets face any additional steps. However, the complexity of some of those steps can be dramatically different. Property division can be a sticking point even for an average California household with a home, cars, retirement and savings accounts, but the greater the dollar value of a couples' wealth becomes, the harder it is to craft a mutually agreed upon resolution.

What to know about getting divorced

The start of a new year may have California residents and others thinking of making changes in their lives. One of these changes may include ending a marriage. January is one of the most popular months for a spouse to either get or seek a divorce. However, it might not be the best idea to rush into getting a divorce. This may be especially true for parents.

The importance of canceling joint credit cards in divorce

Californians who are getting divorced may need to figure out how to handle joint credit cards. Even if the divorce court orders one spouse to pay his or her portion of the credit card debts, both exes could still have problems with the collectors. This is because credit card companies do not have to follow the orders of the family court.

Options for addressing the marital home after divorce

The family home generally represents the most significant asset for many married couples in California. When spouses decide to divorce, their settlement must detail who gets the house or if the property will be sold and the proceeds divided. Emotional factors, such as attachment to a location or a desire to limit disruption for children, often complicate decisions about the marital home.

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