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...
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High Asset Divorce
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...
Claiming Social Security spousal benefits
Even though a California couple may divorce, one spouse could still be able to claim Social Security benefits on the other's earnings. However, the marriage must have lasted for at least 10 years. Also, the ex must have earned significantly more income than the spouse...
The potential pitfalls of divorcing after 50
Older couples throughout California and the rest of the U.S. are increasingly choosing to split, even as overall divorce rates have been decreasing. It is important for people who are older to understand the potential pitfalls that can come with a "grey divorce."...
Preparing finances for a divorce
California residents that are getting a divorce should be aware of the negative impact the process can have on their finances. However, there are some things individuals can do to protect themselves and mitigate the financial effects of divorce.Having financial...
Dividing retirement accounts without legal help can be difficult
When married couples in California decide to get a divorce, they often forgo hiring an attorney in order to save money. While some assets may be easy to divide without any legal assistance, splitting retirement accounts, especially pensions, can be very tricky....
Have you considered a prenuptial agreement?
The perception of prenuptial agreements is that these are insidious documents that few married couples -- or, more accurately, soon to be married couples -- should even consider. Prenups have a stubborn stigma attached to them. Namely, that they hurt your marriage...
Locating assets in divorce
Most couples in California who consider divorce seek to be above-board in their dealings with each other. This means that they are willing to disclose all assets and debts as part of the process of negotiating a fair settlement. Unfortunately, some spouses are...
Spouses and asset protection
California couples usually understand the importance of financial transparency. They will let each other know about major purchases, disclose balances in bank accounts and on credit cards and will have agreements about how their funds should be managed. In some cases,...
How a divorce for older couples can be costly
Older California couples who are getting a divorce may have more difficulty recovering financially than younger people would. The problem is that they have less time to rebuild their finances before their retirement. Furthermore, they might have fewer employment...