Reuters News had an interesting report this week on the impact divorce has on adult children.
While divorce in Los Angeles involving adult children is in many ways simpler than those involving minors -- there are no child support or child custody issues with which to deal -- adult children, particularly when they interject themselves into the divorce, can present their own challenges.
Often they are worried about the welfare of one or both parents, sometimes they are worried about legal bills, the fate of individual assets such as their childhood home, or their inheritance. Young adult children may suddenly have issues paying for college. In reality, what they should really be worried about is their own welfare and their own well-being during what can be a challenging time.
In some cases, allowing these challenges to fester -- paying more attention the affairs of divorcing parents than their own, in other words -- can lead to a failure to launch: A grown child may not complete college, may have issues landing career employment and may delay or fail to begin building their own savings or contribute to their own development.
Tips for Adult Children of Divorce:
-Take care of yourself. Don't neglect your own career or your own financial security while worrying about mom or dad.
-Encourage financial planning as part of the divorce negotiations. Establishing trust funds and other financial planning instruments can preserve wealth during divorce.
-Look into long-term care insurance: Older divorced parents may need help caring for themselves. No matter how much you love a parent, this can place a tremendous burden on adult children.
-Ask for what you want. Make known your fondness for certain heirlooms that may otherwise fall by the way during a divorce and division of a household.
-Look after the neediest parent with financial advice and education. Often it is mom who is left with lower earning power and less experience managing money.
Los Angeles Divorce Attorney Mitchell A. Jacobs has dedicated his career to representing clients in all divorce, child custody and family law matters. He has been a Board Certified Family Law Specialist since 1986, a distinction obtained by fewer than 1 in 200 California attorneys. Call (310) 472-7979 to discuss your rights.