When California couples plan for marriage, they may not want to think about divorce at the same time. This is why many avoiding mentioning prenuptial agreements. However, prenups aren't just a method of divorce planning; they are a way to come to agreements about key principles of the practical and legal relationships that accompany marriage. In addition, prenups can be useful for many people of modest or average means to determine the items that are most valuable to them.
When people in California decide to divorce, they may be particularly concerned about the long-term financial effects of ending their marriages. Even after the emotional and practical issues have been sorted out successfully, the financial aftereffects of divorce can linger for years later. By keeping some tips and strategies in mind, people can help to minimize the associated risk and keep their financial goals in place.
Couples in California who decide to live together before they marry may also be more likely to divorce, according to one study. Researchers found that people who live together before marriage are more likely to face some types of challenges, including those that lead to the end of their marriage. In the first year of marriage, cohabitation is linked with a lower likelihood of divorce. However, researchers found that the risk of divorce rises with each other year. The study analyzed a sample of women aged 44 or younger who were married for the first time between 1970 and 2015 across the country.
The Federal Reserve Board reports that couples who have a wide discrepancy in credit scores are more apt to get a divorce than those whose credit scores are more similar. Furthermore, individuals with higher credit scores are likelier to remain in committed relationships than those with lower ones. However, higher-income California couples might be more likely to divorce than those with lower incomes.
The 2017 passage of the Tax Cuts and Jobs Act means that for people in California, how children are claimed on taxes will change as will alimony. Some experts believe that these changes will result in higher costs for couples who divorce.
Most pet owners view their pets as far more than property. A beloved pet can be seen as a major part of the family. However, property is what the law has historically treated pets as here in California when it comes to divorces. Because of this, in divorces, courts in the state generally have been limited to the processes and considerations related to dividing property when deciding what to do with pets in a divorce.