When a person in California divorces, their life changes dramatically. This is particularly true when it comes to finances. Not only will they have to adjust to living on a single income, but they may be ordered to pay (or receive) child support, spousal support or both. However, life is rarely static, and a support order that worked when the parties first divorced may not work years down the road. When this happens, either party may seek to modify the current support order.
Many couples in Los Angeles and across the nation that have been married for decades, have raised their families, and are facing or are in their retirement years are now contemplating getting a divorce. A "gray divorce" as these late-in-life divorces are called, presents issues that may differ from those younger divorcing couples may not face. While there likely is not child custody or child support issues to contend with if the couple's children are grown adults, couples going through a gray divorce will want to pay close attention to property division and spousal support, as these issues can affect their finances and what their retirement will look like post-divorce.
One of the big issues divorcing couples in California have to tackle is the division of their assets and debts. To start, keep in mind that California is a community property state for property division. This means that each spouse has a right to any property or debts acquired during the course of the marriage. When it comes to property division, the couple's community (marital) property and debts will be split approximately 50/50.
The terms of your custody order will affect your relationship with your child for a long time after your divorce is final. In order to minimize negative effects for children and to have more control over the terms of the final custody order, many California parents choose to work together to draft a parenting plan.
If a child's parents are divorcing, one of the most important and emotional decisions they will have to make is who will have custody of their child. This is not always an easy decision, especially if both parents wish to have primary custody of the child. Parents in California may assume that their only option when it comes to child custody is to litigate the matter. However, litigation is a lengthy process, which could increase the stress parents and the child feel during this time of uncertainty. Therefore, one option parents may want to consider is child custody mediation.