Residents in California and all across the nation were given a couple of extra days this year before their federal tax returns for 2017 were due. While some taxpayers file their returns as soon as they receive all the required documentation, others choose to file as late as they can. Although the deadline for filing this year is now past, many individuals are already looking ahead to see how changes in tax laws may affect them. In particular, couples going through a divorce will experience some changes in their tax filings.
For many California couples, the thought of ending their marriage is difficult to adjust to. Some will go to great lengths to try and save the marriage, including turning to a marriage counselor to try and work through issues in the relationship. Some spouses wonder if a couple's counselor will ever suggest that the clients consider a divorce. While this is not usually the case, there are certainly instances where a therapist can and will suggest divorce.
For some California couples, entering into the golden years of retirement together sounds like a dream come true. However, in some cases, other couples may think spending all their time together now that they are no longer working seems more like a nightmare. Now more than ever before, older couples are deciding to call it quits and see a divorce.
Prenuptial agreements were once mainly thought of as being necessary for the rich and famous. However, many matrimonial experts recommend them for many of their clients in California or elsewhere around the nation, regardless of their jobs or income levels. Should a couple get a divorce in the future, a prenup is an invaluable tool in the proceedings.
Many factors come into play when a California couple or others around the country decide to end a marriage. For whatever the reasons that lead to a divorce, couples of all ages routinely decide to call it quits. Researchers have long tried to analyze divorce trends among the different generations. Is there one age group that has a higher divorce rate than the others?
There has been a significant increase in the number of couples over age 50 who have decided to end their marriages. The phenomenon is so prevalent in California and other parts of the country that it has been referred to as "gray divorce." While going through a divorce can be fraught with issues at any age, older couples do need to exhibit caution and thoroughness as they navigate the subject of retirement finances.
Social Security benefits have long been on the horizon for many California residents and others throughout the nation. Once someone reaches a given retirement age, he or she is eligible to receive some level of benefits. This is also true for those couples that have gone through a divorce. Representatives from a personal financial website recently discussed how to avoid potential problems when dealing with Social Security following a divorce.
In a marriage, there are often clearly defined roles regarding the handling of finances. One spouse is typically responsible for financial matters, while the other may be either somewhat engaged in the decisions or completely unaware of what is going on. When a divorce occurs, California couples and others around the nation are thrust into situations where finances must be handled separately. While this may not be a concern to the spouse who had been dealing with the family budget all along, it can be a rude awakening for those who have never been engaged with finances before. No matter where a person falls on the financial spectrum, it is important to be proactive about how a divorce will affect an individual's money situation.
Many California couples and others around the country have celebrated anniversaries of over 20 or 30 years. Their children may be grown and have started families of their own. At this point in their lives, they may have assumed that their marriages would last forever. However, according to a major university researcher, the phenomenon of gray divorce is happening more frequently in society.
Prenuptial agreements are rarely thought of as romantic when a California couple is preparing to get married. One or both of the future spouses may believe that bringing up the need for a prenup gives the impression that divorce in the future is a possible outcome. However, financial advisors believe that such agreements can actually strengthen a couple's relationship.