Prenuptial agreements tend to be common in states with community property laws, and they can be especially valuable when a family-owned business is involved. California family law judges are required to divide marital property equally even when couples have only been married for a short time, but drafting a prenuptial agreement allows the parties to set their own guidelines.
For those who are 50 or older, divorce can have a significant emotional and financial impact on their lives. It can have an especially significant impact on women who may have a harder time finding a partner after getting divorced at a later age. Women over the age of 63 who have been divorced have a poverty rate of 26.9%. Men who divorce after age 50 have a poverty rate of 11.4%.
California parents might be concerned about how they can protect their children in a divorce. It's important for them to encourage the child's relationship with the other parent. Children need to feel free to maintain these relationships and to express their love for both parents and stepparents.
In California and across the United States, people enjoy spending time outdoors in the summer. From backyard barbecues and family outings to walking on sandy beaches, summer may also mean filing for divorce. Many married couples feel additional stress during the summer months because they need to tend to their children when school is not in session. A couple thinking about divorce may want to plan ahead during the summer.
Financial health is among the primary concerns of many people who are going through a divorce in California. Marriage is an economic partnership as well as an emotional one. In order to come out of it in better shape, people can plan to adjust their finances once the divorce is finalized. They must move from shared expenses and households to separate living expenses. It may be necessary to rebuild net worth and savings accounts.
Losing a job can be an unexpected blow for anyone in California. It can be even more problematic if spouses are in the middle of getting divorced when one of them suddenly becomes unemployed. But there are ways to address this issue as divorce negotiations proceeds and arrangements are made.
Divorce can affect California business owners differently than individuals who don't own a business. Knowing what to expect can help a business owner prepare for divorce. It is essential for business owners to consider both the short- and long-term impacts of divorce.
Divorce can present many challenges for anyone leaving a marriage in California. Untying the knot can be especially burdensome for women with investments and other assets they wish to protect. Once the decision to divorce has been made, women are often advised to gather important pieces of information before settlement discussions begin.
People in California who are trying to estimate the effect of a divorce on their retirement should be aware that they might be able to draw Social Security benefits on an ex-spouse's contributions. It is necessary for the marriage to have lasted for 10 years or longer.
From figuring out who gets the house to dealing with custody issues, California couples going through a divorce typically have a lot on their plates. As a result, it's easy for other important matters, such as insurance, to be overlooked. While it's advisable for couples to review policies regularly, it's even more important to do so when a marriage ends. The two most common types of insurance that tend to become an issue due to divorce-related changes are health insurance and life insurance.