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Divorce tips include attention to retirement accounts, property

On Behalf of Cullen Family Law Group | May 21, 2014 | Divorce |

Just as preparing for a California wedding can be highly stressful, so can getting ready for a divorce. This is especially true for those who have a large amount of shared assets and property to divide with a spouse. A few tips can help a person to pay attention to his or her most important assets in a marriage, as well as to prepare financially for life after divorce.

After a divorce, one would be wise to remember to change any beneficiary designations on his or her retirement accounts. Otherwise, in the event of one’s death, this retirement money may end up in an ex-spouse’s hands. In addition, it may help to recalculate the amount of money one has and needs for retirement following the divorce. This is particularly important if one was ordered to transfer money from a retirement account to an ex-spouse during the asset distribution phase of the divorce proceeding.

It’s also worth noting that no income taxes have to be paid on any property transferred between former spouses due to the marriage. Also, the person who ends up not staying in the marital home would be wise to have his or her name removed from the deed and mortgage. Otherwise, this person may find it difficult to get needed credit.

Some divorcees are also motivated to cancel all joint accounts and reopen accounts in their own names. While this enables newly single people in California to embrace financial independence, it actually may hurt them if their personal credit isn’t strong enough to qualify them for credit. Even though the divorce process can be complex in California when dealing with the splitting up of shared assets and property, mastering laws concerning these matters can ensure that one strives for a settlement that is the most personally favorable in our state.

Source: dentistryiq.com, “Important considerations for the couple going through a divorce: Part 2“, Theodore C. Schumann, May 18, 2014

I’ve been served divorce papers that include false allegations: what do I do?

On Behalf of Cullen Family Law Group | Jun 6, 2025 | Domestic Violence

Receiving divorce papers is already overwhelming. When false allegations are part of the paperwork, the situation can feel even more difficult. It’s essential to stay calm and know how to address the issue. Here’s what to do if you receive divorce papers containing...

Do domestic partnerships affect divorce rights?

On Behalf of Cullen Family Law Group | Apr 14, 2025 | Divorce

Domestic partnerships offer many of the same rights and responsibilities as marriage, but they can complicate the divorce process. If you're ending a domestic partnership, your legal path may differ from that of a traditional divorce, especially in California....

Moore / Marsden calculations in California divorce

On Behalf of Cullen Family Law Group | Apr 10, 2025 | Divorce

In California, Moore/Marsden calculations determine how to divide property when one spouse’s separate property has contributed to the acquisition or improvement of community property. These calculations ensure a fair division of property in divorce cases, particularly...

How can you document SP for asset protection?

On Behalf of Cullen Family Law Group | Apr 3, 2025 | Family Law

When you're about to get married, it's important to think about how to protect your assets, including spousal support (SP) money. If you've received spousal support in the past or expect it during your marriage, you may worry about documenting its use—especially if...

What to expect during child support enforcement actions

On Behalf of Cullen Family Law Group | Mar 23, 2025 | Child Support

Child support represents the financial contributions a non-custodial parent makes towards their child's upbringing. It ensures a parent meets the child's basic needs, such as food, housing, and education. It also supports a child's wellbeing, especially when parents...

Can you reimburse expenses before child support orders take effect?

On Behalf of Cullen Family Law Group | Mar 17, 2025 | Child Support

After a separation, managing child-related expenses can become a challenging task, especially before any official child support orders take effect. Many parents wonder if they can reimburse child expenses during this interim period. Understanding your rights and...

Do mothers have more rights than fathers in custody cases?

On Behalf of Cullen Family Law Group | Mar 11, 2025 | Custody & Visitation

When it comes to custody cases, it is a common misconception that mothers have more rights than fathers. This often stems from historical trends and societal assumptions about parenting roles. Whether you are a mother concerned about maintaining your relationship with...

Why should you update your advanced directives during a divorce?

On Behalf of Cullen Family Law Group | Feb 28, 2025 | Divorce

Going through a divorce is challenging. One crucial aspect that often gets overlooked is updating your advanced directives. These legal documents play a vital role in ensuring others respect your wishes, even when you cannot speak for yourself. Protecting your...

Can you protect yourself and your children without a divorce?

On Behalf of Cullen Family Law Group | Feb 25, 2025 | Domestic Violence

Domestic violence creates a terrifying and dangerous situation. You may feel trapped, believing divorce is your only option for safety. The good news is that California law provides legal alternatives if your moral beliefs prevent you from getting a divorce. Let us...

What can California parents do if their child refuses to visit the other parent?

On Behalf of Cullen Family Law Group | Feb 14, 2025 | Child Custody

Dealing with a child who does not want to see their other parent can create stress for everyone involved. California courts expect parents to follow custody orders while being sensitive to their children's feelings. Parents can struggle to balance their legal...

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Recent Posts

  • I’ve been served divorce papers that include false allegations: what do I do?
  • Do domestic partnerships affect divorce rights?
  • Moore / Marsden calculations in California divorce
  • How can you document SP for asset protection?

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