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Shielding interests before a financially complex divorce

| Nov 11, 2020 | divorce

The end of a marriage is a challenging process, especially when one party is determined to treat the other unfairly. Acrimonious divorces frequently end up in court with the two spouses fighting over assets, marital property, savings and more. If a California spouse is facing a financially complex divorce that will likely involve a difficult fight in order to secure the correct settlement, it’s important to start preparing as soon as possible.

A spouse may be surprised to learn his or partner is planning to divorce and hopes to avoid paying alimony. The spouse may also be hoping to exit the marriage with the majority of marital assets and retirement savings. This is especially distressful if the other spouse earns less and has fewer assets set aside for the future. One of the most important steps at this point is to seek legal counsel. Gathering financial documents is also prudent.

Important financial documents can include bank statements, tax returns, retirement accounts, savings accounts and more. This will help establish the financial situation of both parties and verify one spouse’s claim to the appropriate share of marital assets. It will also help to establish proof that the lesser-earning spouse has a right to alimony, even if the other spouse does not want to pay it.

A California spouse’s future financial stability is on the line as soon as he or she learns that a divorce is likely. Seeking help and preparing well can be crucial to long-term security. Even before papers are filed and decisions are made, there is benefit in speaking with an experienced family law attorney about options.