A California child's uninsured medical expenses are also part of both parents' obligations to pay in addition to basic child support, in most cases. These medical expenses are the ones that are not covered by a health insurance plan and can include co-pays, deductibles, prescription costs and dental or vision care.
Property division and hiding assets in a divorce
California is a community property state, which means that marital assets are divided in half for divorces. This has lead to many concerns for separating couples, including one woman who is divorcing her husband of 25 years. Her husband has insisted that he is going to get both the home and half of her 401(k). The woman, who has been the main breadwinner for a decade, feels that this is unfair. She also believes that her husband is concealing assets.
What to do if a spouse transfers assets
Many California residents may be unsure what to do if assets are transferred from a joint account into an account in one spouse's name. One man opted to give his wife one month to replace $130,000 that was transferred into a CD in her name only from a joint account. In this case, the wife countered by saying that the money couldn't come out for six months.
Finances after divorce: It isn't all bad
Many Californians know that divorce can create lots of financial turmoil, even if only in the short term. However, there are some potential financial benefits that can emerge during and after the divorce process.
Child support the most common reason for wage garnishments
Delinquent child support payments remain the most common reason for wage garnishments in California and around the country according to a report from the ADP Research Institute. The study, which was based on the anonymous payroll data of 12 million American workers, reveals that about one in 14 workers in the United States have their wages garnished, and 71 percent of them are men. Other common reasons include unpaid student loans, bankruptcies and tax levies.
Dealing with the costs of gray divorce
Older California couples whose marriages are ending might be surprised at just how costly their divorces might be. Between fees for legal representation, tax implications and even long-term financial adjustments, gray divorces can become very expensive for the parties involved.
