For many California residents, money can play a major role in the success of their relationships. The results of a survey of more than 2,000 adults that was conducted by a leading bank indicate that money is the main cause of tension in a relationship. The research also indicated that 35 percent of people identify finances as the leading reason for discord with their significant others.
Due to changes put in place by the Tax Cuts and Jobs Act, divorce could soon be more expensive for California couples. This act changed both how exemptions for children are claimed and the tax status of alimony. Experts say it ultimately could mean less money for some ex-spouses.
Spouses who go through a divorce will find that their lives will be impacted in many different ways, regardless of how old they may be. However, California residents who are at least 50 years old should be aware that a divorce can significantly and negatively impact their health. Divorce can have a number of physical and psychological consequences for older divorcees, particularly if they are already dealing with some medical issue.
A prenup may be a good idea for some couples in California even though they may hesitate to create one. People may worry that if they have a prenup, they will be more likely to get a divorce. They may worry that it will upset their families or about revealing personal information such as debt or bankruptcy. However, creating a prenup can improve communication and cooperation.
For couples in healthy relationships, spending time together brings about a sense of hope and happiness. Even on very difficult days, coming home is something that happy spouses look forward to. When married couples in California lose this hope, it's one of the biggest signs that they may be headed for a divorce. Hopelessness in a marriage is often characterized by a feeling that nothing can be done to save the relationships, and this is often true.
Knowing someone who has divorced could increase a person's chances of getting divorced. That was the main takeaway from research conducted at the University of California at San Diego, Harvard and Brown. Specifically, a person is 75 percent more likely to get divorced if a friend has gone through such an event. If a friend of a friend gets divorced, a person's chances of also divorcing increase by 33 percent.
A growing number of California millennials are opting for prenuptial agreements when they choose to marry, according to data from the American Academy of Matrimonial Lawyers. Prenups have actually grown more popular for people in every age range; their frequency of use has shot up five times over in the past 20 years. More recently, however, the use of prenups has grown significantly among people in the 18 to 34 age range. There are a number of reasons why young people marrying may opt for prenuptial agreements, especially when marriage itself has become less of a priority for many.
Women in California and the rest of the country are likely to be taken by surprise by some of the financial issues they encounter during a divorce. In a survey that polled 1,785 women, 46 percent of the divorced women stated that their divorce produced financial surprises.
Even though California residents believe that love should be the glue that holds a marriage together, financial insecurity is a major reason that married couples do not make it. One major financial problem that could be divorce is the lack of savings or the inability to increase savings.
As many California residents know, when the divorce process starts, there are many uncertainties. One of them is how long the divorce process will take. When the marriage ends, both parties want to move on with their lives. However, the length of time a divorce takes is highly dependent on the parties involved and how they work out their differences.