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What happens to your family business when you divorce?

If you are like many Californians, you and your spouse own a family business. Now that the two of you have decided to divorce, what happens to that business? Given that California is a community property state, do you split it 50-50? Do you continue to run it together after your divorce? Does one of you buy the other out? The answers to all these questions become very complicated very quickly, especially if your business is your biggest asset.

What is gray divorce?

A relatively new term is becoming increasingly common these days: gray divorce. This term refers to couples who divorce in their later years, hence the term gray, as a play on the concept of gray hair that comes later in life. 

3 reasons for the increase in gray divorces

The divorce rate remains high in the United States, and a primary demographic responsible for those high numbers is baby boomers. When married couples over the age of 50 divorce, it becomes referred to as "gray divorce." According to data compiled by Reuters, divorce attorneys have seen a 61 percent increase in the number of baby boomers filing for divorce in recent years. 

Divorce and your retirement accounts

It feels good to know you have a solid plan for retirement. At your job, you have taken advantage of every opportunity to contribute to the accounts and other options the company has provided you, and when you leave, you and your spouse will be well off in your golden years.

Can I visit my former stepchild?

Blended families are the norm these days in California, and they can make for some complicated situations. If you are going through a divorce, one thing you may wonder is whether you can get access to your stepchild once you are divorced.

3 common social media mistakes to avoid during your divorce

Divorce is a complicated and frustrating process. Discussing your struggles and emotions with people you trust is one way to help you through this hard time. But confiding in close friends over dinner and sharing details with hundreds of acquaintances via social media are two different things.

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