A divorce is a complex process, and it’s normal to experience strong emotions during this time. However, these emotions should never be the driving force behind the important decisions that one will have to make, especially during the property division process. Instead, a California spouse will want to focus on pursuing long-term financial stability.
One step in pursuing a fair property division order is to have a list of all marital assets. This includes long-term savings, real estate, physical assets and other things accumulated over the marriage. An accounting of all marital debt is important, too, as one spouse should not leave the marriage with an unfair burden of jointly accumulated debt. When considering how to divide important assets, such as the family home, it’s critical to consider what will actually make sense long-term.
Divorce can be a costly endeavor, and it will help to have a certain amount set aside in cash. This can help with the costs associated with separation, new expenses, housing costs and more. During this process, California couples will also have to consider things such as the cost of health insurance and how the two parties will handle taxes for that year.
Ending a marriage is a financially complex process, and the implications are serious. Long-term financial stability is possible with a comprehensive and reasonable property division order. Someone facing divorce can intentionally pursue a strong future with experienced legal guidance and a focus on what will be beneficial well into the future, not just based on how one feels at the moment.