The decisions made during a California divorce will have a long-term impact. This is why it is especially important to walk through the property division process with future financial security in mind. It takes careful planning and an avoidance of emotionally driven decision-making to lay the foundation for a stable and strong post-divorce future. It is helpful to start this process with a complete inventory of all marital assets, which are the assets subject to division during divorce.
Good financial planning during divorce depends on many factors. One consideration is any minor children affected by the end of a marriage. The payment or receipt of child support will affect not only a spouse’s finances, but his or her tax obligations as well. Another important factor is spousal support, including the amount of the payments and how long the payments will last.
Smart financial decisions during this process require looking ahead and considering what makes the most sense long-term. Every property division decision can have implications that impact several areas of life. Because of the complexity of this process and what is at stake, a California spouse may find it helpful to work with both legal and financial professionals as they make important money and property decisions.
From keeping the family home to negotiating a spousal support settlement, there are many important decisions to be made during divorce. Before agreeing to terms or moving ahead with a property division agreement, it is helpful to seek the support and guidance of an experienced family law attorney who is familiar with complex property matters.