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Encino Family Law Blog

Splitting assets during divorce can be tricky

Going through the process of dissolving a marriage can be both an emotional and a financial roller-coaster ride. One aspect of divorce that can be particularly overwhelming is the splitting of assets. A couple of tips may help with navigating property division during a divorce proceeding in California.

When it comes to the family car, both spouses may naturally want to keep it. The best option is to divide the car's value 50-50 since splitting the car physically is not possible. The couple can sell the motor vehicle and then divide the money they generate. Alternatively, one party may keep the car and then pay the other spouse his or her fair share.

Choosing divorce team members an important decision

Navigating the dissolution of a marriage may be the most challenging life experience an individual in California may have. The emotional aspect of a divorce can understandably be devastating, but the financial aspect can also be traumatizing. A couple of tips may help with navigating a divorce proceeding involving matters such as asset division.

Those going through divorce often have family and friends surrounding them who are eager to provide advice. Typically, however, they are not savvy enough to handle the many complexities of the dissolution of a marriage. Assembling a solid team of professionals is critical for addressing the various issues that may crop up during a divorce proceeding.

Divorce offers multiple benefits, reasons to feel grateful

Going through a marital split-up can understandably cause distress, so thinking of reasons to be thankful may not come easy. Still, counting one's blessings may help to take some of the sting out of the divorce process. Several reasons exist for being thankful while going through divorce in California.

First, finding out one's true support system as a result of divorce is invaluable. Many spouses who have suffered emotional or physical abuse during their marriages have often experienced isolation from their friends and loved ones due to their abusers. Going through the divorce process may enable the abused to reconnect with these individuals and gain strength during the split-up.

Prenuptial agreements can protect millennials during divorce

Getting divorced in California can be a particularly complex process for those who have been married for years and have amassed numerous assets. However, it can also be complicated for millennials, younger adults who may not have amassed as much cash and property. For this reason, prenuptial agreements can be helpful to create and sign prior to walking down the aisle.

The Pew Research Center reported that the rate of marriage in the United States is decreasing. In fact, only 26 percent of those in the millennial generation are married. However, marriages still do happen, so for those interested in getting hitched, it make sense to be prepared.

Dads can increase chances of winning full child custody

Getting a divorce in California is understandably difficult for the spouses going through the process, but it can be just as emotionally challenging for their children as well. This is particularly true if the parents cannot agree on who will have custody of the children. Sadly for dads, court child custody decisions are typically made in favor of the mother, not the father.

Although the deck may be stacked against fathers during child custody battles, they can take a couple of steps to increase their chances of winning full custody of the children. First, keeping a paper trail may be helpful. For instance, a father may want to keep a log of each time he visited his children and what they did together. Keeping a record of any financial assistance provided to the children may also be beneficial.  

Reasons to move forward with divorce

The dissolution of a marriage in California affects the whole family, not just the spouses. This is why when considering a marital split-up, a major concern that couples may have is deciding if getting divorced is truly the best choice for the children. Whether to get a divorce depends on several factors.

A major reason to get divorced is if two spouses simply cannot get along. They may have worked hard to make their marital union work, which might even include going through counseling. However, not all relationships can be fixed.

Moving away can complicate divorce child custody arrangement

Following a divorce involving children in California, moving is not a simple affair. California law seeks to safeguard parent-child relationships and parental rights, and moving can have a major impact on such relationships and rights. For this reason, before you can move with your child after a divorce, you must provide sufficient justification to get the relocation approved by the court.

Once your and your former spouse's divorce decree has been finalized and the court has signed off on it, it is intended to be permanent, official and binding. This is why a move away can be so challenging: it may hinder a parenting agreement or a divorce decree's visitation and child custody provisions. For instance, if you move to a different state, the other parent -- who does not have custody of the children -- will not be able to enjoy weekend visits with the children.

Awarding of alimony may cause conflict during divorce

During the dissolution of a marriage in California, a major point of contention often has to do with spousal support. The court might award spousal support, or alimony, to one spouse based on its own decision. However, naturally, the spouse who will have to pay it may be concerned about being forced to pay too much, whereas the other party might be worried about not receiving enough after the divorce.

Alimony essentially provides continuing income to the divorcing spouse who earned less money or did not earn money at all. The purpose of spousal support is to help to limit the unjust economic effects of divorce. After all, a spouse might have chosen to give up his or her career to rear the children at home and thus put himself or herself at a disadvantage financially and career wise.

Achievement divorce settlement can help with avoiding trial

The process of getting divorced in California, including in Los Angeles, can naturally be complicated, and having to go to trial can complicate it even more. After all, divorce trial is often characterized by acrimony and hostility. However, the reality is that the majority of divorce cases result in out-of-court settlements.

A settlement outside of court is possible if two spouses can reach an agreement regarding the most essential issues of the divorce. Settlements can be achieved through informal negotiations or via an alternative dispute resolution process, such as collaborative law or mediation. At the end of the negotiation or alternative dispute resolution process, the spouses' decisions are spelled out in a settlement agreement that is then submitted to a divorce judge.

Divorce has several personal effects in California

Going through the dissolution of a marriage can naturally be stressful from a financial and emotional viewpoint. After all, separating two lives that have been tied together for maybe years or even decades is no small feat. Divorce can have several effects on an individual in California.

First, getting divorced can change a spouse's tax filing status. It can also enable the individual to remarry. At the same time, it cuts off one's rights to inherit an asset from one's former spouse. It can also change how a marital home is owned, as oftentimes only one spouse ends up keeping and maintaining the home by himself or herself if the couple decides not to sell it and split the proceeds.

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