Tinero, Aharonov and Associates Tinero, Aharonov and Associates A Family Law Practice, LLP

Divorce and money matters

Other than the issues surrounding any children a California couple may have, money matters are the primary concern in a divorce. Even knowing this, many people go into divorce negotiations without a complete understanding of the marital finances. The less a party understands about the money issues in the marriage, the more likely the divorce will become contentious.

In many marriages, there is one person who handles the majority of the finances. This works well until the marriage ends, and the party who did not participate in the finances could be at a loss. This does not mean, however, that he or she will not be able to get up to speed before entering into settlement negotiations.

Being prepared by having copies of documents and knowing what makes up the marital estate is also needed to verify what the other spouse claims. An individual might not have reason to believe that the other party would lie under normal circumstances, but divorce can cause an otherwise trustworthy person to lie. If it is discovered that this is happening, it might become necessary to involve the court to help resolve an issue. Without understanding the marital finances, the lie might not be discovered, which could cost the other party both now and in the future.

The truth is that the parties would most likely not be getting a divorce if their relationship was good. There is often a lack of trust and an inability to resolve conflicts. Avoiding a contentious court battle is often more about each party knowing that both sides have the same information, which gives neither party an unfair advantage. Being able to negotiate a divorce settlement without the intervention of a California court could save both time and money, and it may also provide each party with the satisfaction that a fair settlement was reached.

Source: The Huffington Post, "8 Divorce Hacks that Will Save You Time & Money", James J. Sexton, Jan. 11, 2016

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