Divorce can be a difficult process for some people in California. This is especially true for those who are unable to agree on the division of assets that they have obtained during the course of their marriage. In such instances, a court is often asked to make the final determination as to who would own what when the marriage officially ends in divorce.
In most cases, couples in California and elsewhere are able to negotiate agreements as to the details of a divorce. In fact, one recent report notes, as many as 90 to 95 percent of all divorce matters do not require court intervention. The good news is that this often means that people in our state are able to come to terms with their former spouse and to decide on what they believe is fair as they divide assets.
In the cases where a court intervenes, a trial often occurs. In these instances, a court will likely review all of the financial information surrounding a separating couple. Bank statements, investment and retirement accounts are just a few of the income sources that a court can consider when making decisions as to child support, spousal support and property division.
Going through the divorce process can appear complicated to people in California. Because of this and the sometimes-contentious nature of negotiations between spouses, it may do well for some to review all of the applicable laws in our state. In addition, a full financial review will help a person to determine just what property and income is available for division. This information may ensure a good outcome for all of those involved in a divorce.
Source: Tampa Bay Times, “The divorce from hell, the battle for alimony and emptied pockets,” Leonora LaPeter Anton, April 3, 2013