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Reasonable financial settlement during property division

| Apr 16, 2021 | property division

Divorce is a complex legal process that will bring financial changes for each spouse. Naturally, each is concerned with how this process will affect his or her long-term interests and the pursuit of a reasonable financial settlement. To have a better chance of securing fair terms without the need for complex litigation, there are specific steps a California spouse can do to prepare for the process ahead.

Financial preparation is key

It is normal to want to hurry through a divorce. Most people want to get it over with as quickly as possible, but haste does not always lead to the best decisions. It may be more prudent to slow down a bit and take the time to prepare. Some of the things one may find helpful before moving forward with divorce include:

  • Get all personal finances organized
  • Identify assets and know their value
  • Make copies of important financial documents

A California couple may also find it helpful to consider settling out of court. A negotiated settlement gives the two parties the opportunity to discuss their concerns and goals, reaching custom-tailored solution that will work for both sides.

A long-term perspective

Divorce is an emotionally challenging process, and it’s easy to see how one could make decisions based on how he or she feels in the moment. In reality, this is a poor way to make decisions that will make sense long term. Instead, one will find it beneficial to have a long-term perspective when considering decisions and deciding how to proceed during divorce litigation or negotiations.