The divorce rate in America climbed significantly in latter half of the 20th century. There were many reasons for this, including a greater percentage of women feeling economically secure (by working outside the home) and waning social and religious stigma associated with divorce.
A good deal of intelligence does not guarantee smarts when it comes to making decisions in divorce, especially when complex property division issues are at stake. Even in California, where it might seem that community property rules would make division issues simpler, the process of fairly dividing up assets can become daunting.
If your marriage is in despair because of money problems, you are certainly not alone. Money problems are a common impetus for people to split up. But what if you and your soon-to-be ex-spouse are business partners? Can the business survive?
Dissolving a marriage is seldom an easy task, not only emotionally but also financially. Both debt division and the splitting up of assets during a California divorce can have a long-term impact on one's finances. One major type of debt that must be divvied up when two people divorce is medical expenses.
The marital home is often at the center of a divorce proceeding in California. This huge asset can become a huge liability during a marital separation. A few tips, however, can help divorcing individuals who are dealing with property division to navigate the often complicated process in a way that is personally beneficial.
The process of divorce can be complex for couples in California, particularly when it comes to dividing property. The state of California is considered a community property state. Therefore, divorcing individuals must equally divide both the debts and the assets they acquired while married when tackling property division during this type of family law proceeding.