Sometimes, couples in California have a falling out. But, when one fight leads to another and then another, eventually both partners come to the conclusion that their marriage was not meant to last and they are better off divorcing. Naturally, disagreements are often at the heart of many divorces, so it should come as no surprise that couples may not see eye-to-eye when it comes to resolving divorce legal issues, such as the division of assets, child custody and spousal support.
An increasing number of older couples in Los Angeles and nationwide are deciding, after decades of marriage, that their relationship is no longer viable and they want to divorce. Sometimes, this happens when a couple simply grows apart over time, and the split is amicable. Sometimes, this happens after years of arguing and resentment. And, still, sometimes this happens when couples have known for years that they were only staying together for the children. No matter what the circumstances, however, it is important to note that these "grey divorces" present issues not found in other divorces. One of those issues involves Social Security.
Spousal support is an issue that comes up in many divorces in California and may be especially important in a high-value divorce. Spousal support refers to circumstances when one spouse is required to pay another spouse following a divorce. Partner support for domestic partners who are divorcing may also be available in California. Spousal support or partner support may be agreed upon by the divorcing couple or ordered by the court.
Although California is a community property state, and divorcing spouses are each entitled to half of the marital property, in reality it can be challenging to divide assets built up over the course of a marriage in half. In circumstances of a high net worth divorce, the assets can be especially complicated to divide. A high asset divorce can involve a number of valuable assets that must be disclosed, valued and divided so it helps for divorcing couples to understand the process.
As you may already know, palimony is a lot like alimony. Palimony refers to the compensations arising from two unmarried spouses after they have separated.