In California, the legal theory of community property is recognized. This means that when a married couple goes through a divorce, the marital assets they share will be subject to a 50-50 split. This may sound simple in theory, but in reality, there are several considerations that should be made.
When you are getting a divorce, you may initially try to dismiss the division of assets as "only money," arguing that your peace of mind, as well as the happiness and well-being of your children, is the only thing that truly matters.
In a divorce, going through the process of dividing assets can be complicated and stressful, even in the most straightforward of scenarios. However, if you are an artist or an art collector, you will have to go through the process of dividing assets that can be very challenging to value. These assets will also likely hold sentimental value or be seen as a lucrative investment.
If you are embarking on a California divorce, it is important that you understand the state-specific laws in place. These laws can have a far-reaching impact on your finances for years to come. Therefore, it is important that you understand how they apply to your divorce.
One of the things that is divided during a divorce is a shared bank account. If you're ready to divorce, one of the things you may want to do is to move your share out of the account. Why? If you don't, your partner could end up taking everything.
If you are divorcing with your pets in tow, then you may be happy to hear about a change that has just occurred. In California, pets are being seen as more than property by the courts.
Deciding how to divide your property is not always easy, but it's a good idea to try to do so without the court intervening. While you can allow a judge to make decisions for you, you have little control over the outcome when you do so.
There are many reasons why you should know the date you separate for your divorce. It starts the clock on many things, like the number of days you've lived separately or when you should stop being held responsible for your spouse's purchases.
In California, property division is 50-50 thanks to the community property state's guidelines. Community property-based divorces don't have to result in you giving up half, though. In fact, it's only marital property that is divided, so if you can show that you have property that belongs only to you, then you can seek to have it returned to you and not treated as community property.
Filing for divorce in Vista, California, is never easy, even for couples that have struggled with their marriage. What a lot of divorcing couples don't realize is that any and all credit card debt acquired during the marriage will be divided in a divorce. Let's take a look at how this is done so you have an understanding of what you will be responsible for when the divorce goes final.