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.
Many have assumed that those with a lower income are more likely to stay married than those who can transition to a single life with fewer financial roadblocks. However, a recent California study on divorce rates among lower income individuals have shown that those in lower income brackets are marrying less, while filing for a divorce at a rate higher than originally thought. As a result, the study suggests that government programs should move past the promotion of the values that marriage hold and instead focus on the problems that low income couples face during their marriage.
Ask any divorced person their top three regrets about the divorce process and you are likely to find a recurring theme. Many California residents who have gone through divorce wish that they had handled the financial aspects of the process differently. The following information is offered in the hopes that individuals who are considering filing for divorce can learn from the mistakes of others, and emerge from the process is solid financial shape.
When a California couple enters the divorce process, there are a vast number of choices that must be made. For couples who share children, matters of child custody and support often take the forefront of the negotiating process. While the immediate needs of the children are rightfully a priority, it is important to keep in mind that there will be future needs that also require attention during the divorce process.
When the dust has settled and the paperwork is complete, many California residents who emerge from a divorce look around and realize that the entire landscape of their lives has changed. Moving from married to single can affect virtually every aspect of one's day-to-day life, and finances sit at the top of the list of things that have shifted. Many people find that there were major errors made in the manner that finances were handled during their marriage, and the timeframe immediately following divorce is ideal for implementing new financial strategies.
When divorce is on the horizon, many California spouses feel a string need to prepare. This can take a number of forms, from preparing one's friends and family for the news to setting aside money to get through the divorce period. In some cases, one or both spouses will work to set up and fund a 'secret' or 'hidden' divorce account.
When divorce is on the horizon, many California spouses feel overwhelmed by the sheer number of changes that are imminent. It can be difficult to know where to start, and some spouses simply shut down and fail to address important issues in a timely manner. When it comes to finances, however, taking a well-informed and proactive approach can mean the difference between future financial stability or failure following a divorce process.
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.