When couples in California file for divorce, there is likely a multitude of thoughts running through their mind. Besides the emotional impacts this event is causing them, divorcing is likely to spark some concerns regarding what each spouse is going to leave the marriage with. Property division and finances are frequently at the center of disputes in the divorce process; however, there are ways to avoid some of these common pitfalls, helping divorcing spouses resolve these issues as well.
When spouses in California and other states across the nation decide it is best to divorce, they also need to decide what is best for their future. In doing that, divorcing spouses need to consider what their post-divorce life will look like and what properties they seek to be included in it.
Even after considering all of the risks, many entrepreneurs can't wait to start their own business. Most know they will have to put in long hours in order to build their business, but the benefits in the end will be well worth the hard work.
Divorce is never something to which one aspires, but sometimes it is needed. No matter how difficult and emotional the process might be, many California couples decide to go through the process in hopes of having a happy and fulfilling life post-divorce. But in order to get from point A to point B, divorcing couples need to tackle several major issues. One of the most challenging of these is the property division. Heated disputes often arise during this phase, causing some spouses to think they will leave the relationship with an unfair share of the marital assets.
Many concerns follow a divorce filing. Spouses oftentimes try to cope with the idea that they will have to transition from a married life to a single life. This sparks many questions about how this life will look and which items from his or her married life will carry over with them to this newly formed single life. Thus, property division is often a closely looked at phase during marriage dissolution, causing many couples to get into heated disputes.
When Californians face the prospect of a divorce, their attention is usually fixed on child custody, child support, alimony and the division of marital assets. One issue that may not receive attention until it's too late is the tax implications of a divorce. This post will provide an introduction to some of the income tax consequences of divorce.
One of the most complex problems faced by divorcing couples in California is the valuation of businesses owned by either or both spouses. California's community property rules require an equal division of all assets acquired during the marriage, but making this determination when an asset is an operating business can be difficult. Even if a couple is attempting to negotiate their property division, a competent business valuation can provide crucial assistance.
Aside from the family home, retirement accounts are commonly considered one of the most valuable assets an individual can own. With so much on the line, it's no wonder dividing a pension often results in contentious disputes during divorce proceedings.
If you're currently going through a divorce, you're probably quickly learning an important lesson: property division is not an easy process. This part of a divorce requires you to make an exhaustive inventory of all your assets -- as well as your debts -- so that you and your soon-to-be ex-spouse can take your fair share of the community property.
Mark Pincus may not be an immediately recognizable name, but he owns portions of two companies whose names are household words: Twitter and Facebook. He also owns 10 percent of Zynga, a successful video game publisher. His wife Alison has recently announced that she is seeking a divorce and that she intends to challenge the validity of the couple's prenuptial agreement to obtain a more favorable property division than the agreement would give her.