Rumors and speculation have swirled since celebrity super couple Heidi Klum and Seal announced they were separating. At the time, they clarified that there was no divorce filed and they simply needed to explore their own individual lives. However, in the dissolution of a marriage a separation period often leads to a divorce, as was the case for Klum and her husband. Couples all across Orange County may sympathize with the former couple's difficult decision.
When going through a divorce, many important decisions must be made quickly. Sorting out living arrangements, child custody matters and who gets to keep the family dog are all difficult and emotionally-charged decisions that must be agreed upon. Unfortunately, many couples get bogged down in the emotional turmoil of divorce and often fail to realize the important impact of making key financial decisions quickly.
When a couple decides to get married, it's reason for happiness and celebration. While young couples in their twenties and thirties typically don't think must about the potential financial implications associated with marriage, those later on in life definitely should.
During a divorce settlement, judges will often set alimony and child support amounts based on a parent's current and projected earning potential. Failure to pay court-mandated spousal and child support are serious offenses that can result in jail time. This is exactly the predicament that former National Basketball Association star Dennis Rodman now finds himself in.
In years past when couples divorced, procedures related to legal remedies and child custody, property division and asset allocation, while not without their complications, were still defined. Today, however, with a growing number of Americans, and California residents, choosing not marry the lines between who's entitled to what are blurred.
While the ill effects of smoking are well documented, it appears that for smokers dealing with child custody matters there is another major drawback. Many states, like California, now take whether a parent smokes or not into consideration when determining child custody and visitation matters.
When a couple decides to divorce, there are obvious financial implications for both parties. When California couples try to decide how to divvy up assets, a lot depend on how a couple maintained their finances during the marriage and who had more control and oversight into what income was coming in and out. This is especially true if either spouse tries to hide assets.
Any couple going through a divorce is faced with making some very difficult decisions. Couples with children face even more difficult and often emotionally-charged decisions as they must deal with child custody, visitation and support matters. What's more, parents often feel a tremendous amount of guilt related to what affect their divorce will have on their children.
In recent years, the growing number of divorces has also lead to an increase in the number of laws and regulations around how spouses paying and receiving spousal and child support must account for the monies paid or received. As the April 15 tax deadline approaches, it's important that couples who are officially divorced or separated know how to account for both alimony and child support on their taxes.
In past years, middle-aged married couples were viewed as a stable and non-changing fixture of society. Couples who married in their 20 and raised children in their 30s and 40s were viewed as happy and content as they enjoyed their 50s and beyond as a happy couple. In recent years, however, there's been a growing trend among couples in the United States and in California age 50 and older as more are choosing to divorce.