While there are a lot of celebrity couples in California, not every couple deciding to end their marriage will make national headlines. There are plenty of wealthy couples who divorce and manage to avoid unnecessary litigation and legal complications. To follow along the same path, a person facing the prospect of a high asset divorce would be wise to work with a legal professional in order to prepare for what lies ahead.
California readers know that the end of a marriage is a difficult and complicated process, even for the most amicable of couples. When an individual is facing divorce or considering this step, it can be quite beneficial to prepare for the emotional difficulties that are ahead. This effort can ease the stress and strain of divorce and perhaps help avoid unnecessary arguments and disputes.
The legal process of dissolving a marriage can be time-consuming and daunting. Once California divorce proceedings commence, there are a slew of decisions to be made. Tackling these legal matters head on can help to ensure all important interests are protected.
Money issues are one of the three leading causes of divorce. The bad news is that dissolution of a marriage often adds to this problem. When you divorce, you have to decide how to split your assets and your liabilities.
While California is a community property state, there can be complications or unique factors that make the division of marital property complex. The idea of a 50-50 split of marital property during a divorce in the state is ideal. However, most people should understand it may only be the starting point.
Divorce can be a difficult time for everyone, including your children. Watching parents fight, having one parent leave the home and simply the major changes that come with divorce can be detrimental , especially to a child.
Taxes can be a big factor during a divorce, especially when it comes to how taxes will reflect major changes such as alimony and the child credit. There are certain measures one can take to prepare for those changes and learn how certain aspects of a divorce will affect finances overall, particularly when it comes to filing taxes in California. If each party understands the tax implications, then each can make an informed decision and avoid being blindsided once the first tax season after divorce rolls around.
The dissolution of a marriage opens the door to many decisions that need to be made. Once anyone venturing into a divorce understands the scope of those decisions, particularly any decisions that pertain to finances, that party can make a more informed and positive choice about property division, child support, alimony, pensions and other factors that may impact that person's life long after the split. The actual impact on finances can vary greatly for California residents, depending on the amount of assets to be divided and the length of the marriage, along with other various individual factors.
There are two fears that many spouses have once they decide to file for divorce. The first is that they are scared about what their post-divorce life will be like. The second is that they fear the financial expense of going through a divorce. Both of these things can be managed, but today we're going to focus on the latter: the cost of getting a divorce.
You've seen those lists of significant life stressors, right? We all expect death and loss to be on that list, but what about the good things too? Moving into your first house, having a child, landing that big promotion? If these life events can stress an individual to extremes, what do they do to a marriage?