Preparing for a divorce includes gathering information about the past few years of life to be able to plan for the future. As many California women know, finances can often provide surprises during this process, particularly if a spouse was not actively involved in handling these during marriage. To prepare for a stable, financial future, experts recommend gathering three types of documents.
Couples in California and around the country could be more likely to divorce if they have student loan debt, according to a study conducted by Student Loan Hero. Other studies have found that general money problems are a top source of marital discord, but this study discovered that unpaid student loans are especially toxic for marriages. Specifically, researchers found that one-third of divorced couples blamed general money disagreements for their divorce and one in eight said that student loan debt was the particular cause.
Divorce in California can come with significant financial changes, some of which linger on long after the other emotional and practical issues have been sorted out. The type of financial changes can vary depending on the length of the marriage, the respective incomes of the two partners and the presence of children. When children are involved and one parent serves as the primary caregiver, it is particularly likely that child support payments will be ordered in the divorce. In some cases, alimony or spousal support payments may be ordered as well, but they may be shorter-lived than the payments to support the children.
When people decide to divorce in California, they may find themselves facing complex financial decisions. Disentangling the relationships formed in marriage can be complex and difficult, especially because people may be connected through a wide range of accounts, funds, beneficiary designations and other official ties. While people may pay more attention to other aspects of property division, there are several insurance issues that may be particularly important to address quickly after the divorce is final, especially in relation to life and health insurance.
When there is no statute of limitations on a law, that means there is no time limit to enforce it. Not a year, not five years, not even 49 years.