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Riverside Family Law Blog

Financial planning is wise during and after divorce

When people go through a divorce, the financial pendulum usually swings one way or the other. For some in California, they may walk away from the marriage financially strapped. Others might actually gain more wealth and thus have more to manage. Financial planning is paramount in either case, as it may help a person to make the most of his or her monetary situation following divorce.

During a divorce, it helps to create an inventory of everything one owns. While conducting an inventory one’s assets, it is critical to differentiate jointly owned and separately owned assets. People will also have to decide what they’d like to keep and what they are okay with parting with. Developing an asset inventory unfortunately might be more challenging for those who weren't the spouses who were paying the household bills regularly.

Child custody battle may impact children at start of school year

Just as an adult may find it difficult to fully concentrate on work while going through a divorce in California, a child might also struggle to fully focus on school during this period. The more that parents can make the transition to life after a divorce involving child custody as seamless as possible for their children, the better the children may fare in school and in life in general. Some tips can help divorcing parents to create the best situation for their children at the start of the school year.

The parents may wish to meet their child’s new instructor and inform the teacher of their family circumstances. This can be helpful because children whose parents are going through divorce act out sometimes and may have bad days or emotional moments at school. However, the parents would be wise to avoid drawing the teachers into their personal conflicts at home.

California custody decisions are best when the kids are the focus

Experiencing a divorce can understandably be hard on the parents and the children in California. While the parents may squabble about who will get custody of the kids or whether to pursue joint custody, the children may worry about losing one of their parents in the split-up. A few tips can help the parents to navigate this often tricky process for the benefit of the kids and, subsequently, for themselves.

During a divorce proceeding, it’s best to make decisions that will help to make the children’s lives the least tumultuous as possible. During the first few years following a divorce, the children may have to adjust to going to two different households, while the parents have to get used to co-parenting. It’s wise to always put the children’s needs ahead of the parents’ wishes.

Child support obligation increases for entertainer Future

When two individuals have a child and decide to separate, a debate often arises concerning who will have custody of the child and what financial role the other parent will play in the child’s life. Typically, a judge in California will assume the responsibility of deciding who will get child custody and the amount of child support that is reasonable to award in the case. One entertainer in another state is facing this scenario with the mother of his child.

The situation revolves around a musician named Future, who shares a son with a woman named Jessica Smith. Their son is 11 years old. The pair recently came to a new child custody agreement after discussing which holidays both parents would have the chance to enjoy with their child. They primarily focused on the boy’s birthday, Thanksgiving and Christmas.

Fighting over custody of the kids can emotionally impact them

When two people agree to divorce in California, it’s a decision that can have a long-term impact, not only on the two parties but also on their children. Some of the biggest hurdles parents have to deal with include fighting a child custody dispute and helping the children to emotionally cope with their parents’ split. However, some tips can be helpful for making the transition as easy as possible for the kids.

It is helpful to have a strong support system during a divorce proceeding. For instance, it is wise for a parent to let his or her children’s babysitters and teachers know about the split as well as the parents of the children’s friends. These adults can tell the parent if they notice unusual behaviors in the children as they go through the divorce.

Outstanding debt can pose issues during divorce in California

One of the biggest stressors when it comes to going through a divorce in California is sorting out which spouse will get to keep which assets. However, a divorce can become even more complex if one party fails to abide by the obligations for repaying debt as provided in the couple’s divorce decree. A couple of tips can help a person to increase his or her chances of smoothly splitting up with their spouse.

First, it’s worth noting that creditors pay little attention to one’s divorce decree. Therefore, if two divorcing individuals have joint accounts for credit cards, they both are legally obligated to ensure that these debts are paid. This is typically true no matter what the divorce decree says.

Outcome of divorce can impact finances going forward

After filing for divorce, a person may struggle with varying emotions. The individual may be relieved that he or she finally took the necessary step to end an undesirable marriage; however, the person might also be worried about how decisions during the divorce will affect his or her finances in the future in California. This is especially true if one may be dealing with finances in regard to child custody issues as well.

It is wise for people to protect their assets when getting married. A prenuptial or post-nuptial agreement can be particularly helpful whether a person is getting married for the first time or has decided to remarry after a divorce. Sometimes it is not wise for individuals to combine all aspects of their finances when they are entering blended marriages. This is because one person might wish to pass down family heirlooms or assets that he or she brought into a new marriage -- but to his or her own children in particular.

Divorce decisions could harm retirement plans

As employees near retirement in California, they may also be faced with having to file for divorce as a result of irreconcilable differences with their spouses. When getting a divorce, it can be easy to overlook critical details. Several areas require attention during this type of family law proceeding in order to retain as many assets as possible, thus potentially having a more financially secure retirement.

Making the transition from married to single can be shocking for a person who has been married for years or even decades. When people who are middle-aged or older dissolve their marriages, they might be worried about their spouses claiming a portion of their retirement benefits and other valuable assets. Losing this money can feel like salt in the wound at a time when one’s living expenses will increase due to the fact that he or she is now single.

Mediation, collaboration can help during California divorce

When two people have different opinions about how to approach matters during a divorce, a debate can naturally ensue, causing both individuals duress. However, if both people are willing to consider the other person’s needs in addition to looking at their own, they increase their chances of achieving an outcome that is mutually helpful. Property division and the distribution of assets are common areas that spark debate during divorce proceedings in California.

One way that a couple can try to work out their own divorce-related issues and thus avoid court intrusion is to embrace the idea of mediation. Mediation is ideal for couples that are looking for an alternative to litigation. Through this method, people can reach their own resolution rather than having a judge who doesn’t know them make life-changing decisions for them.

Divorce may affect one's work life in California

A divorce doesn’t just affect one’s personal and family life. It can also have a major effect on a person’s career. This is especially true for people who are public figures or entrepreneurs who are essentially their own brands. Even traditional employees can be affected by divorce if they allow their divorce matters to interfere with their work in California. A couple of tips can help workers to keep their divorces from putting their jobs and finances in jeopardy.

First, it’s paramount that individuals physically care for themselves. This includes getting a proper amount of sleep, exercising and eating correctly. Lack of sleep and healthy foods can drain energy and cause feelings of melancholy, potentially resulting in poor business decisions. Spending time with comrades or getting a massage may help to improve the ability to handle divorce-related stress.

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