Going through a divorce in California can be a stressful process. There are a number of challenges that a divorce may bring, including financial and emotional challenges. Many are discovering that there are also tech-centric headaches connected to splitting up. These include managing shared gadgets, passwords and online accounts. Here are a few things that a spouse may want to consider addressing prior to their divorce.
Some California investors with the means to do so are exploring their options with a type of virtual or digital currency known as cryptocurrency. There is nothing wrong with simply purchasing or selling digital currency. It can, however, become a problem if marital assets involve cryptocurrency. First of all, this type of currency is often difficult to value since prices can fluctuate significantly over a short period of time.
In addition to being an emotionally trying process, divorce can also be very complicated. California couples who are ending their marriages can take certain steps to organize and prepare for what lies ahead. Spending time getting properly organized can result in a less nerve-wracking process and may help produce the outcome that individuals want.
Divorced parents in California who have a difficult relationship with one another might worry that the conflict will seriously hurt the children. However, a new study found that a child's relationship with each parent is more important after a divorce.
Many spouses who are separating in California will say that the divorce process can be emotional. Unfortunately, high stress and anger can lead to poor decision making. At the time of dividing assets and liabilities, it is important to reign in emotions and consider financial issues rationally and intelligently.
California couples who get married in their 20s or 30s may believe that completing a prenuptial agreement is unnecessary. After all, many younger people do not have substantial assets. However, for older people who decide to get remarried, securing a prenuptial agreement can be a wise choice.
Many California parents start saving for their children's college tuition years in advance. They realize that the earlier they start, the more time they will have to space out the money they are saving for a quality education. However, if parents get divorced and do not plan in advance, they may find themselves squandering the money that they set aside.
Lack of commitment could be a significant factor for couples in California who get a divorce. In a study conducted by the National Center for Biotechnology Information, 75 percent of respondents cited it as one thing that contributed to their divorce. It was followed by infidelity, which was identified as a factor by more than half of respondents.
When women in California fall ill, they may be much more likely than their male counterparts to divorce after their sickness. A number of studies show that despite the oft-quoted marital vow to remain together "in sickness and in health," severe illness can have a serious effect on marital longevity. Equally concerning, however, is the fact that this increased risk of divorce only applies when the female partner in an opposite-sex relationship becomes ill.
Some California spouses are perfectly happy to let their life partner handle all things financial during the course of their marriage. While there's nothing wrong with this arrangement, it could become a problem when a dependent spouse becomes a newly single individual with unique financial needs. Those needs may not be met if existing financial experts normally dealt with marital assets from the point of view of the other spouse.