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divorce Archives

The challenges of being a spouse and business owner

An entrepreneur tends to be a driven individual who is not afraid to take risks. Their spouses are more likely to be cautious and have a lower tolerance for risk. This helps to explain why the self-employed in California and throughout the country have a higher likelihood of getting divorced than the rest of the population. However, this is not the only reason why entrepreneurs could see their marriages end.

How a change in marital roles can lead to divorce

California couples who start their marriages with an equitable gender arrangement concerning work and career are more likely to stay married than those who go through a transition of roles. A Swedish study found that when a wife's career takes off after initially being largely responsible for child care and housework, divorce may be more likely.

Some spouses have little input in financial matters

California residents who are getting a divorce and have had little experience managing the marital finances might have to learn about these matters for the first time. A study by UBS Global Wealth Management found it is not unusual for women to leave financial and investing decisions to their husbands. With the divorce rate for older couples doubling since the 1990s, this means that some people could be headed into retirement with little financial experience.

Asset division is easier with planning

California couples wanting to protect their finances during divorce might want to consider taking steps to limit fiscal damage prior to filing court papers. Keeping a sense of awareness and maintaining essential records can go a long way toward getting a fair monetary settlement for spouses who may consider themselves at an economic disadvantage during a marital break-up.

Dividing 401(k) plans in divorce requires accuracy

When California couples reach the end of their marriages, dealing with the financial fallout can be some of the most complex and contentious concerns that come with the divorce. In many cases, one or both parties in the divorce may have significant retirement funds, which are frequently some of the largest and most important assets at stake, especially given the importance of these accounts for both spouses' financial futures and security.

Early planning saves divorce headaches

California couples headed for the altar may think divorce planning is bad luck, but putting structures in place to protect finances in the event of a marital breakup can also protect them in other ways. Between added protections to protect against unexpected contingencies and the simple truth that a large percentage of marriages end in divorce, it pays to plan for the worst while working toward the best in romance.

Behaviors that lead to divorce

Couples living in California may experience marital problems from time to time. While this is not unusual, long-standing attitudes and patterns of behavior can eventually take their toll on a marriage. If these actions and attitudes are not addressed, a couple may subsequently divorce.

Tips for managing finances after divorce

Some people in California may find that divorce introduces a number of financial challenges. In addition to having their assets and income cut in half or less, some people may find themselves responsible for their ex-spouse's legal bills or other expenses. Therefore, it is important for people to have a plan for getting their financial lives in order after a divorce.

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