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Posts tagged "Divorce"

Health planning after a late-age divorce

A growing number of people in California and across the country are choosing to divorce later in life. For people aged 50 and older, divorce rates have doubled over the past several decades. However, no matter when someone decides to end their marriage, it can be very important to take care of their health. According to the Holmes-Rahe Stress Inventory, divorce is the second-largest contributor to stress-induced health breakdowns. For older people with existing health concerns, the effects of divorce-induced stress can be significant.

Reasons to get a prenuptial agreement

California couples may want to consider the benefits of prenuptial agreements. While some people may feel such documents could increase the likelihood of divorce, creating a prenup can actually improve communication and teach compromise. In particular, people who are heading into second marriages, have blended families or own businesses may benefit from a prenup.

Feelings of hopelessness predict divorces

Californians who feel hopeless about their relationships are much likelier to divorce than people who feel like their marriages are worth working on. When one spouse feels indifferent about their relationships, they might be unwilling to invest time and energy in order to save them.

Friends' divorces can impact others

People in California may be surprised to learn that when their friends divorce, they are more likely to consider divorce themselves. While ideas about the social contagion of divorce have always been popular, especially when people see several friends end their marriages in quick succession, the concept is backed up by scientific research. A study conducted by researchers at Brown University, Harvard University and the University of California at San Diego found that people with friends who divorce are 75 percent more likely to end their own marriages. In addition, even people with friends of friends who get divorced see their likelihood of divorce rise by 33 percent.

Financial issues commonly associated with a divorce

Some of the stress that can go along with ending a marriage in California concerns financial issues. Many separating couples fail to focus realistically on their financial needs and obligations during and after the divorce process. However, paying more attention to assets, liabilities, income and expenses could reduce the stress level of soon-to-be-former-spouses making the transition from joint responsibilities to individual ones.

Gray divorces and dividing assets

The Pew Research Center reports that the divorce rate for seniors throughout California and the rest of America is twice what it was during the 1990s. While it is important that all couples know how to properly divide their retirement assets and other types of properties, the process is especially important for older couples who may not be able to recover from mistakes that can result in hefty tax bills or substantial financial consequences.

Student loan debt burden can push couples toward divorce

Younger people in Fullerton are often struggling with a serious burden of student loan debt. Across the country, the average student loan borrower owes $34,144, and people who graduated from university in 2017 have an average burden of $39,400. These numbers don't tell the whole story; in the last 10 years, the percentage of borrowers who owe more than $50,000 in educational debt has tripled. Many millennials have postponed life goals as a result of debt, particularly student loans, and living life with substantial debt can have a major impact on psychological health and well-being as well as the choices that people make about their jobs, relationships and spending habits.

The rise in millennials getting prenuptial agreements

California millennials are more likely to seek prenuptial agreements prior to marriage than previous generations. While prenuptial agreements are on the rise throughout all age groups, it is only more recently that the 18-to-34 age group has represented a significant trend in this area.

The surprising financial implications of divorce

Those who get divorced in California may find that the separation process comes with a variety of surprises. For instance, it may be difficult to fathom how much debt the household had. Common debts include mortgages, credit cards and student loans. It could also be difficult for some to come to the realization that they may not be able to keep the family home.

Getting ready for a divorce

Getting a divorce can affect several aspects of an individual's life, including their finances. However, there are certain steps that future exes in California can take to protect themselves financially and lessen the financial impact of a divorce.

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