As you may know, divorce is one of the most challenging legal obstacles any couple will ever have to endure. In fact, for many people, divorce is the single most complicated legal matter they will ever have to endure. If you are someone who is looking to get divorced, you most likely have very many concerns about your future and that of your family. Unfortunately, one of the more complex facets of most divorces is property distribution. In many cases, spouses will worry that divorce will hurt their financial situation–and sometimes, it does. That being said, at times, spouses can realize several potential financial benefits of getting divorced. Please continue reading and reach out to our experienced Los Angeles divorce attorneys to learn more about some of the potential financial benefits you may see after your divorce.
Financial Benefits of Divorce
Some potential financial benefits of divorce in California are as follows:
- You will be in charge of your own assets. While married, you and your spouse most likely functioned financially as a team. Now that it is just you, you can manage and dictate how your hard-earned money is spent. You can reimagine your financial future in a way that you wouldn’t have been able to in the past.
- You may receive greater financial aid for your children when the time comes for them to go to college. This is because FAFSA only requires the custodial parent to submit their information when requesting financial aid. Since you presumably will have a lower total income than when you were married, you should qualify for a greater amount of financial aid.
- You may have early penalty-free access to your spouse’s retirement fund. Oftentimes, divorcing spouses will reach qualified domestic relations orders, which essentially allow a divorced spouse to access certain retirement accounts early, and penalty-free.
- Those in gray divorces may see certain Social Security perks. As long as you were married to your spouse for at least 10 years and your spouse has reached age 62, you can withdraw from your spouse’s Social Security benefits as soon as you would like. It is worth noting that this does not hurt your spouse financially in any way.
If you have any further questions or you would like to get started, please do not hesitate to speak with our California divorce attorneys today. We are on your side.
Contact our experienced Los Angeles firm
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.