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divorce Archives

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.

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.

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