Families throughout California are now preparing for the onset of summer. While kids may be excited to have some time outside of school, parents may be worrying about how they will keep their children occupied for the warm months of the year. For parents who share custody of their children with former partners and spouses, the summer season can present unique challenges to their existing custody and visitation arrangements.
Though it is by no means a hard and fast rule, couples generally accumulate more wealth the longer they stay married. Whether this is because they advance in their careers over time and earn more money, are able to lessen their expenditures as their children age, or improve their investments and account balances with good choices, older couples often have more money and possessions than their younger counterparts. While this can mean that a California couple will have a comfortable estate to pass on to their friends and family, it can also mean that they have a major task to work through should their union end in divorce.
Prior to their marriage, a California resident may receive an inheritance from a family member or friend. A person may also receive an inheritance during their marriage that is distributed solely to them and not to their spouse. When a person receives an inheritance and later decides to divorce, it can be confusing for them to understand whether the inherited assets should be subjected to the property distribution of the divorce.