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Posts tagged "divorce"

Preparing for divorce after age 50

The dissolution of marriage at any age can be unnerving and ultimately affect one’s thought process. Divorce is never easy and often causes increased stress and can take an emotional toll on a person. Being well organized and researching the state laws as they apply to divorce can help prepare for the often-tumultuous times ahead. In California, divorces over age 50 have doubled in the past 25 years.

Advanced financial planning is essential before divorce

January has been deemed the most popular month for married couples to split up. Records show that divorce filings are one third higher in January than in other months because couples do not want to ruin holiday celebrations. In California and other states, the first week in January usually sees a substantial uptake in divorce inquiries.

Spousal benefits from Social Security after a divorce

A substantial part of income for retirees comes from Social Security benefits. After years of paying into the program, there is no reason to settle for less than the highest amount one can get. Sometimes, one spouse may receive a higher benefit than the other. In California and other states, ex-wives or husbands may be entitled to spousal benefits from Social Security after a divorce.

Stepmom takes the best interest of the child to heart

A new bride vowed to love, honor and cherish her new husband and her new stepson. She also vowed to do the same regarding the child's mother. During her marriage ceremony, the bride pledged her vows to her husband and included his former girlfriend and the son they have together in her new life and role as stepmom. In California, parents are taking a careful look at what is in the best interest of the child by co-parenting together.

Spousal Support tax relief ends in 2019 with overhaul

A proposed tax overhaul was delivered to President Donald Trump who promptly signed it into law. The tax plan is set to touch every facet of life, including spousal support. The 75–year old tax deduction, sacred to those who pay alimony, will be scrapped effective January 1, 2019. In California and every other state, divorce negotiations may be harder and may lead to less alimony being paid.

Smart decisions about marital assets during divorce

When a marriage ends, it can be both emotionally and financially crippling. It may be so painful that one cannot think clearly about making critical financial decisions. Dividing household contents, the marital home, bank accounts and vehicles, can take a toll on all parties involved. In California, proper planning can help safeguard assets during a divorce to secure financial well-being.

Potential pitfalls for divorce over 50

Studies show that one in four couples will end their marriage after the age of 50. Compare that to twenty years ago when one in 10 couples with a spouse over the age of 50 divorced. Some experts agree that with the surge in late-in-life break-ups, so-called gray divorces have become like an epidemic. In California, people are living longer and have more opportunities to grow apart. Studies show that social customs have changed, and there are fewer stigmas about divorce and living life as a single person. 

Social media may impact divorce outcome

When going through a marital separation in California, spouses may feel tempted to go to social media to vent. However, sharing too much can be a problem -- not just personally but also legally. A few tips may help those going through divorce to avoid harming themselves in the long run when using social media.

The main reasons for divorce

Within the first five years of marriage, statistics suggest that 22 percent of couples separate, get divorced or one party dies. The Centers for Disease Control and Prevention says that that this marital disruption increases to 53 percent for couples who have been married for 20 years. In California and elsewhere, the ability of a couple to compromise and relate to each other goes a long ways in determining whether the marriage will end in divorce. 

Divorce over 50 and retirement

The number of couples over 50 who have decided to end their marriages has seen a steady increase since 1990. Studies show that since 1960 the over-50 divorce rate has increased 700%. Other countries have also reported a surge in 30-plus year marriages failing. In California, and in other states, the initiator of the divorce is usually the wife.

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