When getting divorced, many spouses worry about what kind of a financial toll the divorce will take on their lives. Of course, between property distribution, potential alimony/child support payments, and more, this is a valid concern. However, in many cases, there are actually several financial benefits to be had after the divorce process is through. Please continue reading and speak with our knowledgeable California divorce attorneys to learn more about the various financial benefits you may discover after your divorce.
- To start, as a single person, you will have more control over your money. Since there is no one else in the picture who can tell you how to save or spend your money, you now will have the chance to make all of those decisions on your own. Not only does this mean you can potentially save more money than you previously had, but it also means less emotional stress that can be brought about by fighting over money with your former spouse.
- In many cases, if you are someone who has a retirement fund and no longer married, you can actually access that retirement fund early on, and penalty-free, as long as you can reach an agreement called a qualified domestic relations order.
- Getting a divorce may also mean additional financial aid for your children when it comes time for them to apply for college. The Free Application for Federal Student Aid, or FAFSA, states that only the custodial parent is required to supply financial information when applying, and if you are the only income to report, there is a very good chance that your children will receive additional financial aid.
- If you are getting a late-life divorce, you may also find that you will receive certain Social Security perks, depending on your situation. If your former spouse is at least 62 years old and you were married for at least 10 years, there is a very good chance that you will qualify for Social Security benefits upon retirement.
If you have any additional questions about how our firm can help you get on the right track when it comes to establishing your finances after a divorce, or you have any other questions regarding the divorce process, please do not hesitate to speak with our knowledgeable California divorce attorneys today. We are always here to help.
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Divorce and family law issues are notoriously complicated and personal, which is why you must hire an attorney with years of experience, as well as the compassion and skill needed to handle these sensitive matters. For the qualified, dedicated legal representation you and your family deserve and need, contact Zitser Family Law Group, APC today.