This article presents an analysis of 5 views of factors that contribute to the adjustment of children in divorced families or stepfamilies. These perspectives are those that emphasize (a) individual vulnerability and risk; (b) family composition; (c) stress, including socioeconomic disadvantage; (d) parental distress; and (e) disrupted family process. It is concluded that all of these factors contribute to children's adjustment in divorced and remarried families and that a transactional model examining multiple trajectories of interacting risk and protective factors is the most fruitful in predicting the well-being of children.