When an older California couple decides to end their marriage, they understand this decision will impact their future financial security. No matter how wealthy the two spouses may be or how amicably they plan to settle their divorce, the reality is that a gray divorce will have a ripple effect on retirement and long-term plans. Thankfully there are steps that can help preserve and protect long-term interests.
When a California couple makes the choice to end their marriage, they understand they are facing significant financial changes. One of the most common concerns expressed by those who are going through a divorce is how this process will affect their long-term financial health. There are steps a spouse can take now and during the divorce process to shield personal interests and avoid additional complications in the future.
One of the most difficult aspects of ending a marriage is making choices and securing terms that will allow an individual to have a strong financial future. Most adults in California facing divorce likely have concerns about how this process will affect their income and savings, but most would be wise to give careful thought about the debt they may carry with them. A burden of debt can make it difficult to financially recover from a divorce.
The end of a marriage is difficult, but it can be especially complicated when one spouse finds ways to allow emotions and aggression drive his or her decision-making. Passive-aggressive tendencies can slow down a divorce and make it difficult for a California couple to reach any type of positive resolution to their remaining disputes. This type of behavior can be difficult to confront as it is not overt or obvious.
The implications of a divorce can affect an individual for years. Because of the potential long-term effects that these family law decisions can have on virtually every area of life, it is beneficial to be familiar with common mistakes often made during a California divorce. Missteps and hasty decisions can prove costly and complicated down the road.
After deciding to end a marriage, a California couple will have to make various choices that will affect their future. It is in their interests not to make these choices impulsively but to think carefully about how these decisions will impact their lives long-term. This is particularly important for older couples who are nearing retirement age and choosing to divorce.
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.
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.
The end of a marriage represents significant changes for every person in a California family. The children can suffer during this time of transition, especially if the two parents cannot resolve custody issues amicably. Divorce professionals say they are seeing an increase in the number of divorces that are highly contentious. This is stressful for parents, but it can also be harmful for the children as well.