If a divorcing couple in California has children, college savings accounts may be a topic of discussion during property division negotiations. Although parents usually open these accounts with the same goals in mind, a divorce might make one spouse start to wonder how the other spouse will handle the college fund. To protect a child's college fund after a divorce, it is important that college savings accounts are addressed in the separation agreement.
California couples who are divorcing might also own a business together, or only one of them may own the business. In either case, it is necessary to get the value of the business. This can be done either through what is called a "full valuation" or a "calculation of value."
People in California and throughout the country may be less likely to move to another state than their grandparents, and some say that it's because of divorce. The fact that Americans move half as much as they did 50 years ago has stumped demographers. One professor of geography decided to devote his time on a Fulbright fellowship to finding out why.
No matter if a couple is getting divorced in California or another state, both parties will have to learn to move forward on their own, both socially and financially. According to legal professionals, much of an individual's financial security post-divorce depends on how the settlement and other money issues are handled during the process.
For many California couples, their relationship does not end when they divorce. They might still have financial ties or children together that necessitate the creation of a settlement agreement. If this agreement does not have loopholes, it can protect both parties.
When it comes to property division, the marital home is usually the most valuable asset that divorcing spouses living in California have to deal with. Deciding which party gets to stay in the home is just the first challenge. After that, they must work out an agreement about the mortgage or negotiate some type of buy-out.
Many Californians have likely heard media reports about the decreasing divorce rates in the U.S. While it is true that the number of divorces has fallen, research indicates that the rates could reach nearly 53 percent if people's behaviors continue as they are.
While a marriage may end, the job of parenting is a lifelong endeavor. Therefore, it may be in a parent's best interest to have a friendly divorce that preserves relationships with their children and each other moving forward. However, this may be difficult to see during an emotional time when a parent may be looking at financial and other issues related to the process.
California couples who are ending their marriage should approach the situation wisely and calmly. As they return to single life, it will be necessary for them to plan for their financial future. Intelligent steps before and during the process can make an enormous difference and can have positive effects on the divorce experience as a whole.
California parents who are having problems in their relationship often consider working through their differences in order to stay together and raise their kids. While having an intact family is usually a good reason for not ending a marriage, there might be problems that arise that might not make it the best idea.