If you are ending your marriage, you know how difficult it can be to split up your assets and debts. Emotions can interfere with logic, yet your future may depend on making smart financial decisions. Property division is often more complicated in a high-asset...
Protecting retirement during divorce
When people in California get a divorce, each may be entitled to a part of the other's retirement account. This can have a significant effect on a person's retirement plans whether it is in a few years or further away. It is important to not become overwhelmed by...
Tips for dealing with new alimony tax laws
California couples who are getting a divorce may be aware that starting in 2019, tax laws around alimony are changing because of the Tax Cuts and Jobs Act. For divorce agreements finalized after the end of 2018, alimony will no longer be tax-payable or tax-deductible....
Gray divorce and retirement
No matter how old individuals are when they get a divorce, it can be a process that negatively impacts them financially and emotionally. For California residents who are at least 50 years old, getting a divorce can be extremely difficult, particularly if they have had...
How comparative wealth can affect divorce
According to some experts, amicable divorces are actually more common among Californians with very significant assets. One divorce attorney said that wealthy couples with over $5 million in assets are more likely to achieve amicable settlements. However, upper middle...
Financial considerations when planning to divorce
California couples who are ending their marriages might worry about what their futures might look like. By taking a realistic look at their finances, they might be able to avoid making costly errors during and after their divorces.According to one financial adviser,...
Protecting assets during a split
Regardless of who earned an income during a marriage, both parties have their own financial interests to tend to if the marriage comes to an end. California residents should look to open their own bank accounts, learn the basics of financial management and close all...
Splitting retirement accounts while avoiding taxes, penalties
A 2016 survey of members of the American Academy of Matrimonial Lawyers found that retirement plans were the second most common topic of conflict in a divorce. In first place was alimony and in third place was business interests. California couples may have to face...
Divorce planning can preserve financial futures
California couples planning a trip down the altar might also want to consider making contingency plans to safeguard against a failed marriage. The wisdom of having health and life insurance policies is unquestioned, and taking similar precautions regarding assets...
Tax implications of a divorce
When California couples get a divorce, there are a number of tax considerations they should keep in mind. If the divorce was finalized by the last day of the year, the couple should file their tax returns separately. Couples whose divorce was not yet final, even if...
