Running any type of business involves a lot of recordkeeping. Having financial documents, transaction receipts and other information relating to the incoming and outgoing funds of the business can be immensely useful in the event that a dispute arises. While most people use debit or credit cards for their purchases these days, you may have a California business that is heavily cash-based.
Different generations do things in different ways, and millennials are no exception. Unlike their parents and grandparents before them, this generation is more likely to cohabitate first, wait longer to marry and sign prenuptial agreements before walking down the aisle. In fact, their different approach to family law matters has resulted in a lower divorce rate for their age demographic.
For many years, the rate of marriages that ended was about 50%, but that is no longer the case. The rate of divorce is now around 39%, and there are a few specific reasons why this number is dropping. Part of the reason behind a lower divorce rate is a changing perspective and approach to marriage in California and across the country.
Someone going through a divorce will have various financial matters to address. There will have to be adjustments to lifestyle, savings and spending, and in the midst of these changes, it can be easy to overlook important changes to long-term plans and estate planning documents. For California couples who are over the age of 50, divorce can actually cause complex estate issues.
When a marriage ends, it will bring changes to virtually every area of a person's life. These changes can be particularly complicated for anyone who is older and nearing retirement age as divorce will require the division of all marital property. In most cases, this includes long-term savings a California couple was setting aside for their golden years. As one would expect, this can require major shifts in expectations and plans for retirement.