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Sacramento Family Law Blog

Financial issues to consider in a divorce

When California couples decide to divorce, they will need to address a number of financial issues. For example, they may have to divide retirement accounts. In order to avoid having to pay taxes and penalties when the account is divided, a qualified domestic relations order might be necessary.

These aren't the only financial issues to address. For example, the couple may need to sell a home, or one spouse might refinance it. Spouses should also separate any joint accounts. Those who do not have their own credit record may need to start establishing one. In addition, it may be necessary to revise an estate plan. For example, an ex-spouse may need to be removed from a beneficiary designation.

The various types of child custody arrangements

California parents who are getting a divorce will need to agree on a child custody and visitation arrangement. Otherwise, a judge will create one in the child's best interests. When making a decision, both physical and legal custody will need to be taken into account. While physical custody refers to where the children live, legal custody has to do with making choices about a child's education and general welfare.

Aside from third-party custody, which involves the child being placed with others because the parents are considered unfit, there are a number of ways exes can ensure they both get to spend time with their kids. One of the most common arrangements for joint custody involves the child spending a few days per week with one parent and then the other. However, some parents might opt to have the children continue living in the family home while they take turns staying there.

Mediation can be a better way

Throughout history, leaders have often discovered--often tragically--what the opposite of negotiation is. It's been said that when there's no negotiation, when there's no talking and when there's no agreement, then there's war. When it comes to your children, war is not what you want. You'll want to negotiate.

When marriage ends and war begins, children can be caught in the middle. No one should be surprised to hear that children suffer when their parents fight. Studies have found that the bitter fighting of parents harms children more than the divorce itself. Finding a way to avoid litigation--and the fighting that often comes with it--can spare your children the drama. An alternative dispute resolution method such as mediation offers a way to stay out of the courtroom.

When the love is gone: Protecting assets in divorce

If your marriage is on the verge of collapse (or has already collapsed), there are things to do to protect yourself, writes the author of "Money Confidence." Kerry Hannon says, "Once the love is gone, money is the issue, the only issue."

She writes that those who face divorce must think about financial survival, property division, spousal support and more. Of course, for divorcing parents, child custody is typically at the very top of their priorities in divorce.

Enforcing his divorce obligations

Divorced men are more likely to meet their car payments than their child support obligations. –Susan Faludi, writer and journalist.

The divorce process can be long and difficult. It can be emotionally draining and taxing on all your relationships. Reaching an agreement for support that allows you to begin the next chapter of your life can be the light at the end of the tunnel. On the other hand, the light at the end of the tunnel could be another train coming in your direction: failure of your spouse to fulfill their new obligations.

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