A divorce, no matter where it occurs, can tug on heart and purse strings. Many aspects of a divorce require careful analysis for a fair settlement, such as alimony payment, property division and child support payments.
Divorce is not just about two people moving on with their lives. There are also financial issues and concerns, such as property division, child support payments and child custody. One financial aspect of divorce that a spouse needs to keep in mind is payment of spousal support or alimony. Everywhere in the country, including here in California, a spouse can ask for spousal support when the divorce case is filed. Temporary spousal support orders can be filed even when an individual is awaiting a final divorce decree.
According to some experts, the United States has seen a rise in the number of marriages ending in courtrooms in recent decades, with California alone seeing tens of thousands of marital dissolutions each year. Anyone who is facing divorce will probably agree that it can be an extremely challenging event, both emotionally and financially. Beyond the details of the divorce itself, may be decisions about spousal support, property and asset division and child custody and support if there are minor children still at home.
What are the options that a Californian has when served with a divorce summons? First, they need to go through the papers carefully. The Form FL-100 Petition will tell you what the petitioner (usually the spouse) wants. There is also another form, the Summons Form FL-110, which provides information about the rights and responsibilities that you have in the divorce process.
Getting a divorce in California or elsewhere in the country can be quite burdensome. The couple who decides to part ways has to sign a lot of paperwork that can be quite painful, as the parties may be experiencing a kaleidoscope of emotions, such as anger, frustration and despair. Perhaps this is the reason why collaborative divorce is becoming more popular with parties who must negotiate about various issues, such as child custody, child support or spousal support.
Apart from who will take custody of a California couple's minor children, the most intensely disputed issues in divorce usually concern the disposition of real property, assets and debts. Whether a spouse is focused on staying in the martial home, keeping specific properties, protecting assets acquired during marriage or maintaining control of a business or other concern, reliable legal counsel can be critical.
California divorce not only breaks hearts, but can stretch taunt purse strings too. Many financial aspects of a divorce, including property division, division of debts and assets must be carefully considered in a divorce. However, property division in a divorce is a most complicated issue with very high stakes for all involved. A divorcing spouse may need to consider hiring an attorney to take on the property division aspect of a divorce and come out with a reasonable split.
Divorce brings in its wake not only emotional turbulence but financial woes as well. After all, family law in California requires that property be divided equally between divorcing couples. Also, couples may work out property division matters on their own, but until a judge signs off on this property division deal it will not be considered legally binding.
California couples may find it difficult to plan for the possibility of divorce. However, for those interested in protecting personal finances, it is important to accept the possibility and plan accordingly. In many cases, couples choose to create a prenuptial agreement. Prenuptial agreements, while useful in some cases, can be thrown out or overturned by the courts in some situations. For those with significant wealth to protect, the possibility of a prenuptial agreement being overturned can spell financial disaster.
California couples with a high net worth may be interested in the recent emergence of legal documents detailing the terms for property division in Eliot Spitzer's divorce. Reportedly, Spitzer's wife will receive a large financial package from Spitzer, a former New York governor, in accordance with the couple's postnuptial agreement. The high-profile couple filed for divorce in January 2014.