Before entering into a marriage, it is important to consider a number of different aspects of life and the future. This step includes considering the potential for divorce. It is possible for California residents to prepare for divorce, and property division in particular, before they even get married.
It is common for retirement accounts to be included as community property during divorce. This information means that it is possible for these accounts to be split during the property division process. When dividing an IRA, California residents may want to pay particular attention to how the funds are transferred.
Getting married can be an exciting and overwhelming time. Of course, dividing property in divorce can also be immensely overwhelming. While some California residents may not think about property division as they prepare for their wedding days, it may be wise to do so. Creating a prenuptial agreement could save much time and trouble in the event of divorce.
When individuals first get engaged, they may believe that they will always be willing to do anything for their future spouses. While this idea may seem comforting, it is not always realistic. Many California couples may find themselves facing divorce, the property division process and other aspects of ending a marital relationship. However, this possibility does not have to deter individuals from tying the knot.
When going through divorce, most people want to ensure that they get their fair share. Because dividing property in divorce can be complicated, it is understandable that this area can be a common point of arguments, stress and confusion. California residents may need to fight for certain assets and take extra steps to ensure that particular funds are divided.
Making decisions regarding how a divorcing couple should divvy up their assets can be complex. It is not unusual for individuals to have attachments to certain items and feel the need to negotiate harder for those particular pieces of property. However, California residents may wish to consider how the outcomes of the property division process could impact their futures before staying set on obtaining a certain asset.
Whether getting married for the first time or an additional time, asset protection is important. Because no marriage is perfect, the chance that a divorce could occur does exist, and California residents could find themselves facing the property division process. Most people do not want to enter such proceedings with uncertainty, and creating a prenuptial agreement could help.
Owning a home is a goal that many California residents have. In many cases, individuals purchase a home with their spouses soon after or even before marriage. When this occurs, typically both parties have an obligation to ensure that the mortgage loan on their home is paid. If the home is left to one person as part of the property division process in the event of divorce, who is liable for the mortgage?
If you are getting divorced in California, you can expect that you and your soon-to-be ex-spouse will divide the assets you have in half. Each of you will exit the divorce with half of what you accumulated during the marriage, including both assets and debts.
When you think about property division in a divorce, you probably imagine dividing up the house, bank accounts, cars, credit card obligations and other significant assets and/or debts. Of course, this will be a top priority in any divorce.