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

Property division details can help end unhappy marriage

Ending an unhappy marriage may be the best thing that a California resident can do. The days of "walking on egg shells" and disagreeing about every little detail will finally come to an end. Along with this, life as one knows it will change. To ensure that the lifestyle change holds more positives than negatives, one will want to pay close attention to the property division details during the settlement process.

One of the first things to decide is which party, if either, will keep the house. In making this decision, sentiment should be set aside and reality dictate the final decision. If the individual who wishes to retain the house will not have the income to do so, this may not be the best decision.

Another consideration has to do with financial accounts that may be owned either jointly or individually. A listing of all bank, investment, insurance and retirement accounts will need to be made. Prior to deciding which party will receive what, one will need to take a look at both the present value and the future value of each account. Each type of account may have some form of tax liability which can greatly impact its worth.

The lifestyle associated with an unhappy California marriage can be suffocating. Sometimes, the best alternative is to decide that it is time for a lifestyle change, work out the property division details and move on with enjoying one's life. In order to make sure that all of the details have been analyzed and taken into consideration, an experienced attorney can be essential in guiding one through the details.

Source: foxbusiness.com, "Biggest mistakes older women make in divorce", Casey Dowd, June 4, 2017

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