It is not just California residents who are interested in prenups. A recent study that involved surveying divorce attorneys showed that the number of clients requesting prenuptial agreements is on the rise across the nation, and it seems like millennial clients are behind it.
Happy newlyweds are more likely to remain happy couples. This seemingly uncontroversial finding was confirmed by a study involving 431 California couples who participated in a series of surveys to assess changes in marital satisfaction over time. Researchers noticed that most studies about marital happiness involved primarily middle-class, white couples and wanted a more diverse take on satisfaction in a relationship. In addition, they also wanted to measure the effect of socioeconomic status, identifying couples living in a lower-income area of Los Angeles County to participate in the study.
When couples in California divorce, asset division is often a primary concern. If the couple owns a house that has not yet been paid off, determining what happens to the property, as well as its mortgage, will be a major consideration in the divorce.
Divorce rates in California and around the country have not changed much in several decades, but the number of couples over the age of 50 choosing to end their marriages has risen sharply. Today, one in four divorces involves older spouses. In 1990, that figure was just one in 10. This trend shows no signs of slowing down, and it is raising concerns because people who end marriages after several decades often grapple with difficult emotional issues and sometimes face severe financial problems.
Researchers who asked more than 2,300 people why they got a divorce found that many couples have a lack of emotional satisfaction in their marriages. Rather than behavioral reasons, such as violence and addiction, exes pointed to psychological reasons, such as a lack of love or trust, that led the divorce. The study authors, who published their findings in the "Journal of Sex & Marital Therapy," reflected that this represented a shift in how marriage is perceived. Increasingly, people seek to be emotionally fulfilled in marriage. Many spouses in California may be willing to leave a relationship that does not provide that fulfillment.
When it comes to handling social media during a divorce, the best approach is to avoid oversharing. Anything a California resident posts on social media can be used against them in a divorce. Even an amicable divorce can quickly become much less amicable if one spouse posts something inappropriate.
California couples planning their weddings may find that financial planning can help them to avoid divorce later on. According to one study conducted by loan company LendingTree, taking on additional debt to pay for the expenses of a wedding ceremony is highly correlated with later financial tension and even divorce within a marriage.
As second marriages increase throughout the country, many California residents have discovered that tension can build due to finances, particularly when the new spouses have children from prior marriages. Money can be a source of stress for most relationships; however, there are ways to prevent the tension building so much that it hurts the relationship.
It's understandable that many soon-to-be ex-spouses in California are concerned with the financial implications of ending a marriage. While divorce can stir up many painful emotions, it can also have a long-lasting impact on the pocketbook. After the divorce is completed, an ex will have to adjust to a new budget as a single person. According to one study, many people need to increase their income by almost one-third in order to maintain a pre-divorce standard of living.
Student loan debt is a major concern for many people in California. The cost of attending university in the United States has grown significantly over the years. As a result, many people face student loan burdens that may total in the hundreds of thousands of dollars. When people decide to divorce, the division of their largest assets may be some of the most contentious issues that arise. The financial effects of the end of a marriage can linger for years into the future. The same holds true for the division of large marital liabilities such as student loan debt.