San Jose Family Law Blog

A divorce financial specialist can be a helpful addition to the professional team of some California couples who are ending their marriage. In particular, people who have complex financial situations or who are not well-informed about their marital finances might benefit from working with a divorce financial specialist.

Divorce financial specialists differ from other types of professionals in their focus on the ramifications of the divorce itself. This includes helping individuals or couples see what their different settlement options might be and the consequences, including the tax issues. They may also be able to advise on such complex assets as closely held business interests. One of the most difficult topics to address for some couples in a divorce is the marital home. It has emotional connotations, and people often do not fully understand the consequences of keeping it. A divorce financial specialist may help with this decision. They can also offer expert testimony if necessary if a couple cannot reach an agreement through negotiation.

A divorce can have a significant effect on a person's finances, and it is important to take steps during the process to understand and protect assets. A San Jose resident who has not been involved much in the family finances should be sure to get a full accounting of what their assets are as a couple and as individuals. The person should also know how to access those assets.

Once the divorce is final, each person may want to remove the ex-spouse as beneficiary on any accounts. However, prior to that, there are several other important precautions. For example, people should be fully aware of the rules and penalties involved in selling or dividing certain assets. There could be penalties associated with leaving annuities, and selling securities may incur a capital gains tax.

Divorce is always an emotional and stressful experience, especially for couples who have been together for a long while and decide to end their marriage later in life.

Whether you and your spouse are wealthy or have modest means, your financial future is a prime consideration. These four tips will help you approach this matter with greater confidence.

For every couple in San Jose that decides to divorce, their reasons are unique and personal. Some couples may deal with infidelity, addiction or even abuse. Others may find that their plans and personal goals change over the years and come in conflict with one another, causing both spouses to grow apart over time. Because divorce also carries serious legal and financial consequences, people may try to avoid ending the marriage. They may go to counseling or try other methods to rekindle the flame. Experts say, however, that there are certain common signs that indicate that couples are more likely to end their relationship.

When spouses no longer spend time together, it is often an indication of an unhappy relationship. The problem may begin with conflicting work schedules and other logistical problems, but it can also reflect that both spouses have little desire to spend time with one another. The longer this situation continues, the more likely the spouses are to grow apart from one another. For example, couples that no longer eat dinner together, even on the weekends, are more likely to divorce. The same is true for couples who no longer enjoy fun activities together or quit hobbies that they once shared.