Most couples don't expect to find themselves slogging through a divorce after 30 years of marriage. However, it happens more often than one might think and presents its own set of unique challenges. Late-in-life divorce is sometimes referred to as a "silver divorce" or "gray divorce." Some reasons for these situations involve infidelity, regrets, and financial issues. While older, more mature adults may be able to handle the emotional pitfalls of a divorce better than a young couple, that doesn't mean it is any less painful or less tedious to resolve. In fact, late-in-life divorce comes with some unique considerations to take in.
There are many options for what to do with the family home in the event of a divorce. Some divorcing couples in Los Angeles may decide that one party will stay in the home for a certain number of years, after which they would put the home up for sale and divide the proceeds. Of course, this ties a person to their ex at a time in which a person simply wants to move on. In situations like this, the person not living in the home might just want to pay off the mortgage so that their name can be removed from it. However, will that relinquish that spouse from any responsibilities regarding the home if their ex continues to live in it?
Not every marriage is meant to last. Whether a couple in California gets by paycheck-to-paycheck, or whether they are wealthy individuals with many valuable assets, their marriage can hit the rocks for a variety of reasons, leading to divorce. One high-profile couple's divorce demonstrates just that.
Whether a divorce was your idea or your spouse's, and whether you're merely considering ending your marriage or have already filed paperwork, you may be dreading the thought of court. You may even have begun your divorce proceedings with the best of intentions, hoping to make the process as amicable as possible. Perhaps, you've given some thought to - or even already attempted - mediation.
It goes without saying that it costs money to raise a child. When parents in California are married or are unmarried but in a relationship with each other, both contribute to the care of the child. And, if their relationship with each other doesn't last, both parents are still obligated to meet their child's financial needs, so their child can grow up in a healthy, supportive and nurturing environment. To this end, when parents in California divorce or break-up, the court will issue a child support order, in which the noncustodial parent will pay a certain amount of money each month to the custodial parent.
Many married couples in California purchase a home, envisioning living their life there together forever. However, sometimes plans like that don't work out, and a couple ends up seeking a divorce. When this happens, they will have to divide their assets. This includes the family home. In fact, when it comes to property division, the family home may be one of a couple's largest assets. Therefore, couples will want to think carefully about what to do with the family home in a divorce.