Concerns of California parents about paying for their children’s college education may grow if they get a divorce. Amid worries about child and spousal support, college savings might slip down the priority list, but with colleges costing an average of more than $20,000 per year for a state school and over twice that for a private school, it is likely that help will be needed.Both children and parents might need to revise their plans. For example, a child may want to consider attending a state [...]

Taking steps to prepare financially for divorce even before it is underway may help some people in California through the process. For people who do not have an income or manage the family finances, some steps may be critical such as applying for an individual line of credit. This is something a person who has always shared joint accounts with a spouse may want to do before leaving the marriage.People might also want to gather all financial documents and make copies of them. Later, if [...]

When survivors of domestic abuse in California make the decision to divorce, child custody can be a particular concern. Because child custody rulings can essentially mandate ongoing communication between parents, it can also provide an opportunity for abusers to continue manipulative and violent behavior against their family members. Some experts have indicated that many domestic abusers attempt to seek control of the situation by seeking child custody. These experts use the term “coercive control,” which can include tactics such as emotional abuse, abuse of the [...]

There are multiple mistakes that California residents can make when dividing their 401(k) assets during a divorce. Unfortunately, oversights can result in high tax bills, excessive penalties and an unfair division of funds. To avoid making such mistakes, it is important that spouses are aware that the various types of retirement accounts are governed by different rules. Workplace retirement plans, which include conventional pensions and 401(k) accounts, can only be divided through qualified domestic relations orders. Without a QDRO, an ex-spouse would not be able [...]