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November 2017 Archives

Divorce: Why would people sign a postnuptial agreement?

Although more and more couples in California choose to sign prenuptial agreements, many others believe it is only necessary for high net worth couples. Some shy away from even discussing it because it might suggest they are planning for a divorce before they are even married. However, circumstances change, and many couples later reconsider the pros and cons of a marital contract and then sign a postnuptial agreement.

A prenup can deal with pet-related issues in a divorce

Times have changed, and many couples in California choose to get married later and also start their families when they are well established and financially ready to care for children. At the same time, many prefer to get a pet in their early years of marriage, or even before they get married. It is also true that many people become so attached to their pets that they treat them like they would treat their children, and in the event of a divorce, the same battles can ensue as those about child custody.

Using mediation to protect children during divorce

Divorce is often harmful for both parents and their children. If divorcing parents do not take great care to protect their children, those children may carry deep emotional wounds for many years, and the parents’ relationships with them may never fully recover. Most likely, you know individuals who still struggle with the emotional baggage of their parents’ divorce, or you may struggle with these things yourself.

Tax reform may make divorce a bigger financial challenge

California residents will likely be aware of the proposed bill that would cause a substantial change to the tax regulations of alimony. This will primarily impact those who are considering divorce. If the bill is passed, those making alimony payments will no longer be allowed to deduct those payments on their tax returns, and it will be income tax-free for the recipients of alimony. The change will affect any divorces that are finalized after Dec. 31, 2017.

Divorce: What to take into account when considering a prenup

California couples who are planning their weddings may have questions about the need for prenuptial agreements. Some people feel that discussing a marriage agreement is like preparing for a divorce, and although it protects the interests of both spouses in the event of a divorce, it offers a whole lot more. Couples who start their marriages with limited assets may believe a prenup to be unnecessary, and they will have the option to sign post-nuptial agreements after the date of their marriages if their circumstances change later.

How do California courts determine custody in a divorce?

When you're headed toward a divorce, the necessity of that process may be the only thing you and your spouse can agree on. You may both have different expectations for the asset division process and different desires for the parenting or custody arrangements for your children. If you're both seeking primary physical custody, the courts will end up making key decisions about parenting.

With careful planning the divorce process can be made easier

When a marriage ends in California, each party has to consider the practicality and the financial consequences of the split. Unraveling every aspect that has been intertwined takes time, and moving through the process of divorce requires careful planning. A person can avoid being set back by a divorce by making calculated and informed decisions.

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