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October 2016 Archives

Divorced women over 50 are more likely to fall into poverty

A woman over 50 who is considering a divorce in California may want to think about the effect the separation could have on retirement. A study produced by two economists found a relationship between the age that a woman divorces and the chances that she will still be working full time later in life. A survey of nearly 56,000 women showed that those who ended their marriages in their 50s ended up working jobs into their 70s 10 percent more often than those who divorced prior to age 30.

Finance and divorce

Although divorce rates have fallen over time, the California court system continues to deal with a substantial number of divorces each year. The average length of a marriage that is ended by divorce is eight years, and approximately two of every five first marriages end in divorce. Age is a significant predictor of divorce as more than 35 percent of men and women marrying between 20 and 24 years of age will later split up. Money is one as well, claiming the top spot among issues leading to breakups.

How co-parenting conflicts can be resolved

California parents may find themselves in conflict after a divorce is finalized, but this does not always mean they need to return to court. In fact, a judge is unlikely to look favorably on a parent who keeps going to court over relatively minor parenting issues. There may be better ways to resolve these types of conflicts.

What is a parenting prenup?

Raising a child is often a difficult problem for many parents, especially if they break up before the child is born or get divorced. However, a growing movement of "parental prenups" are helping to streamline a child's care needs and to eliminate the guesswork that had previously plagued split parenting.

Keeping the house after a divorce

In California and other states, if a divorcing couple cannot decide who will get the house, then a judge will make that decision for them. When an agreement cannot be reached, a judge may force the two to sell the house and split the money. The split may not be equal because one spouse could have put more money into it than the other. It is costly to fight in court, so if it is possible, the best route is to agree on asset distribution without a court order.

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