When a couple emerges from a California divorce, each party is often relieved to be done with the many and varied tasks and decisions that accompanied the divorce process. Some are surprised to find that there is still a significant list of items to be addressed in the timeframe following the end of a marriage. Insurance matters are one topic that both parties should give some attention to after a divorce.
Divorce settlements are rarely straightforward, but divorce settlements for high profile individuals with business interests and property assets are even more complex. For one high-profile California couple, the divorce process has been even longer and more complicated than they probably imagined possible. When millions of dollars are at stake, as in the divorce of Frank and Jamie McCourt, seemingly simple tasks like asset division and even just answering the question "what is marital property?" can become quite complex.
California residents may believe that divorce is more common among younger couples, and that those marriages that have reached the 20 year mark or beyond are likely to go 'till death do us part.' Recent research suggests, however, that older adults are filing for divorce at ever-increasing rates. The Wall Street Journal recently reported the results of one study that claims that one of every four individuals who divorce is over the age of 50.
When a spouse decides to move forward with ending a marriage in California, the first reaction is often to hire an attorney. While that is certainly important, recent advice suggests that obtaining financial guidance may be nearly as important as one moves toward dissolving a marriage. Multiple studies show that women, in particular, tend to know less about financial issues and lack the confidence to take control of their financial futures. When it comes to divorce, these factors can combine to threaten one's financial stability.