A wedding is an exciting event. The bride and groom spend countless hours planning and preparing for this glorious event. Yet, all too often, they spend more time planning for the wedding than they do planning for the marriage. In today's society, many California engaged couples bring with them significant assets, children from a previous relationship and even a possible interest in an ongoing business. In light of these aspects, the couple will also want to spend time discussing how decisions will be made throughout the marriage, their philosophy regarding spending and budgeting as well as how property division will be addressed in case of death or divorce.
Advances in technology are wonderful. While they can be enormously beneficial to individuals and society, they can also be abused and used for illegal and immoral purposes. California residents who are going through divorce may be aware of a particular technology that is sometimes employed in the creation of hidden assets.
Mortgages and realty ownership can be complicated at the best of times. When a California couple divorce, the marital home may be dealt with in a number of ways. If there is no definite severing of rights and responsibilities on mortgage agreements and realty deeds, then problems may arise again in respect of property division, sometimes years following finalization of the divorce.
Money, or the love of it, may or may not be the root of all evil: however, there is no doubt that it can cause many an argument. When California residents divorce, an individual retirement account may be part of the property division. What may start off as an amicable agreement could potentially end up as a bone of contention further down the line. A woman from an unknown state was divorced from her husband about a year ago, and she is now questioning whether she should have handled things differently regarding the division of a shared individual retirement account with her ex-husband.
Marriage may be intended to be an equal partnership, but the division of labor is not often entirely fair. There can be a significant difference between a spouse who is a genuine homemaker and one who simply leeches from the other. For some California residents, making the decision to divorce a spouse who contributes nothing to the marriage may be accompanied by a desire to ensure that the other party does not benefit equally in the property division as a result.
Many people have fond memories of their childhood home. For California couples who are facing divorce, the family home is often sold as part of the property division, and this is usually the least complicated option. Any children affected by the marriage breakdown may find it difficult initially to adjust to new living arrangements; however, there may be a variety of reasons why one spouse might choose to remain in the marital home.
It is natural to want to see fairness and justice prevail. When couples divorce, it can be common for emotions to spiral out of control, skewing one's view of what fairness looks like. The community property assessment may become a battleground where California residents can find that spouses are devious – or desperate – enough to create hidden assets.
They say that one should not mix business and pleasure, yet couples will often set up a business together. This can work extremely well until divorce strikes, at which point things have the potential to deteriorate very quickly. What options might California residents consider with this aspect of property division?
Hindsight can be a wonderful thing, but sadly it usually comes too late for one to act upon it. In the majority of divorce cases, the division of assets will be relatively simple; however, where there is a large amount of wealth involved it may be necessary to seek professional financial advice. When it comes to property division, many California residents make the mistake of assuming that the most valuable assets are the most obvious ones.
The Boy Scouts of America have a motto: be prepared. This is good advice for most areas of life, especially if one is considering or has already initiated divorce proceedings. When things are going well within a marriage, one may feel a sense of security that belies the possibility that matters may not be as they appear. One may think that only wealthy California residents need to plan carefully about property division in the event of a divorce, but the truth is that this is something that affects people at every financial level.