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Academic success of wealthy kids is impacted when parents divorce

Researchers have long been aware of how a parents' separation can adversely impact a child's academic success. Earlier this month, researchers from the University of California, Los Angeles (UCLA) published a study describing the kids that divorce affects the most. They determined that divorce seems to impact children from more stable, wealthier families than it does those who were previously struggling.

Gray divorce issues: should you be concerned

You were married for decades. You raised your kids, who are now grown and on their own. You've been planning your retirement and looking forward to traveling, taking up a hobby or simply having more time to enjoy your grandkids, friends or even time to yourself. You might never have imagined that another item on your post-55 agenda would be getting divorced.

Practical decisions benefit you in asset and debt division

One of the most difficult things to do during a divorce is determine who is going to get what. Both sides likely want the assets, but neither wants to have to take on the debt. While you might be tempted to try to get as much as you can during the property division process, you have to remember that many assets come at a cost.

Considering divorce? One or more of these issues may apply to you

There's no way to know which marriages will last a lifetime and which will end in divorce. When you got married, you likely believed (and hoped) that you and your spouse would always be together and that your relationship would overcome any challenges you might encounter along your journey. In reality, life doesn't always pan out the way we'd hoped.

As you prepare for divorce, keep these things in mind

Making the decision to divorce might have been one of the most stressful things you've ever done; then again, perhaps you found it an easy decision to make, but you're worried about what your and your children's future will be like. If you know someone who has gone through a similar experience, you can talk to that person to seek recommendations, depending on what worked or didn't work when he or she was trying to come to terms with divorce and move on in life.

What is 'quasi-community property?'

If you're reading this, you likely already know that California is a community property state. "Community property" refers to the assets that a couple earned or acquired, either separately or together, during the marriage. There are some exceptions, such as inheritances and gifts that remain separate as long as they don't get commingled with the couple's community property.

Take steps to improve your emotional state during divorce

The end of a marriage usually doesn't come as a shock. You have probably been thinking about how the situation has been deteriorating. During this time, you can prepare yourself for the divorce that might be forthcoming. One of the easiest things you can do right now is gather a copy of financial documents that you might need when you go through the property division process. Having these can help prevent your ex from trying to leave assets off the declarations for the divorce.