Prenuptial agreements are known for their negative connotations. Feelings of mistrust and anxiety may arise when this topic is addressed by engaged couples. For many, creating a prenuptial agreement implicitly suggests a marriage may end in the future. Speaking of this before a marriage has even begun is uncomfortable and difficult.
For someone who is entering into a divorce for the first time, things may become overwhelming and seemingly unbearable at times. Emotions are running high and it is often difficult to think straight. There are many myths and assumptions out there regarding a divorce. It is important to understand what to expect in order to make certain your decisions are sound and in your best interests.
A complex divorce in California poses many challenges on dividing the house, car, household furnishings and bank accounts. Spouses should not, however, neglect retirement plans, such as a 401(k).
Health savings accounts (HSA) have existed for only 13 years. These are now becoming a new and large asset, sometimes, over $100,000 that must be divided in a California divorce.
A Californian spouse's divorce problems do not end with the entry of a decree. Child support and alimony have federal tax consequences, and spouses should plan for this while negotiating a settlement or pursuing litigation.
Spouses in Orange County who are considering divorce should know that it can have severe financial consequences. This can be especially true for women. According to studies, a wife's standard of living may decline by 27 percent after separation. Factors, such as insufficient child support, may lead to this decline. Accordingly, it is important to plan for these financial consequences and potential divorce problems.
Dealing with a new financial situation is one of the most common divorce problems. This is particularly difficult for spouses who have not made financial decision on their own before the end of a marriage. These issues can be as mundane as finding a new bank or as complex as dividing stock.
Californians may have heard of the oft-cited statistic that half of all marriages these days will end in divorce. However, there has been much discussion as to whether this statement is accurate. For example, according to the American Psychological Association, the divorce rate in our nation is somewhere between 40 percent and 50 percent. That being said, these numbers are up for debate, and, in fact may differ among various demographics.
Not every marriage in California is meant to last, and even if both you and your spouse agree that divorce is the best option, it is still an emotional time. However, you should not let your emotions cloud your judgment. The following are some specific rational steps you can take to protect yourself during the divorce process.
Technology and the Internet have given us more ways to communicate than ever before. People can make phone calls and send text messages from their cell phones. They can send messages to each other via emails, and the online social media platforms Twitter and Facebook. It is something we do every day, without even giving it a second thought. However, for those in Orange County who are getting a divorce, it is important that they understand how all of this electronic data will be handled.