Discovering that your spouse has engaged in an extramarital affair can break your heart. This is a person whom you trusted with your financial future, your home and your heart. Now, he or she has moved on to greener pastures. It is common for people to wonder if they, in some way, cause their spouse to stray.
Getting divorced can be emotionally challenging in addition to requiring a person to make financial adjustments. Understandably, those dealing with divorce issues such as property division may feel anxious about whether they can maintain their pre-divorce lifestyles and achieve their financial goals long term. Here are a couple of tips for protecting oneself financially during divorce in California.
Celebrity actors Angelina Jolie and Brad Pitt are undergoing a divorce. As part of that breakup, the pair are negotiating child custody issues for their six children. At times, the pair's jet-setting lives can create additional confusion about the care of the kids. For the most part, the parents and children reside in California. For now, Ms. Jolie has primary custody of the children.
Most individuals treat their pets as part of the family. During a divorce, however, in all except two states, pets are part of the property division process. This can be a painful realization for parties who can't agree on who gets the dog at the end of a marriage. Beliefs and attitudes about pets are changing, however, and in the future, perhaps California laws will accommodate for the best interests of a pet.
A bill has been proposed to aid families in receiving needed financial support payments. The bill to collect unpaid child support payments just passed the California Assembly Floor and will continue to move through the legislative process. The program, already in place in several other states, will have insurance companies work with child support enforcement to recover missed payments.
As a divorced spouse who is still paying spousal support, you might feel as though it is a financial burden that you are having to suffer unnecessarily. While you probably welcome the opportunity to pay child support and provide your kids with the financial support they need, you may have reason to believe that the spousal support you pay is no longer necessary for the well-being of your former spouse.
Alimony is soon changing in this country. For individuals in California dealing with a high asset divorce, the timing of one's divorce can soon become important. A change in the tax code brought about by the Tax Cuts and Jobs Act will now make alimony payments non-deductible for any divorces made after 2018.