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Things to consider when negotiating a financial settlement

| Nov 6, 2020 | divorce/marital dissolution

When considering divorce, it’s crucial to think beyond how one feels in the moment. There are strong emotions associated with ending a marriage, but these feelings do not always reflect what will truly be best in the future. When making decisions that will affect the future, such as when negotiating a financial settlement, it’s prudent to consider how these choices will play out in the coming months and years.

Money is one of the most common reasons for divorce, and it’s one of the most important issues during the divorce process. It can be expensive, and a California adult has to think about what he or she will be able to afford and how to make lifestyle adjustments. For many, a divorce means a fresh start in life, but it’s crucial to seek terms that allow a spouse to reasonably afford his or her new life.

Property division is often a contentious issue in many divorces, especially when there is an emotional attachment over assets. In addition to the family home, property division also involves vehicles, retirement accounts, personal belongings and anything else accumulated over the course of the marriage. Keeping some assets may be more expensive than one realizes, especially regarding the potential tax burden and upkeep costs.

There are many immediate and long-term considerations a California adult should keep in mind during a divorce. It is complicated to navigate emotions and a complex legal process at the same time, which is why one should not go through this process alone. Working with an experienced family law attorney can provide the important guidance necessary during this time.