When preparing for divorce proceedings in Manhattan Beach, there are a number of important dates that you will want to keep at the forefront of your mind. One of these is the valuation date of your marital assets. You may at first question why the exact day on which your marital assets are appraised and valued would be important, yet in many scenarios (particularly if you or your soon-to-be ex-spouse are small business owners), this information could potentially help you from suffering a significant financial loss.
Residents in California who are getting divorced often struggle with how to split their marital estate. Losing any amount of their shared assets can be hard but some research is now showing that the impact may be quite severe for some people, especially for couples who get divorced in their 50s, 60s or beyond.
Many in Manhattan Beach may have dreams of growing their families. Most might assume that would mean having children, yet there are certainly other methods through which one's family can expand. Adoption ranks among the most popular of these, with The National Council for Adoption reporting 110,373 adoptions having occurred as recently as 2014. Assuming legal responsibility for a child or teen can be a complex process, one that those who are interested in should thoroughly understand prior to commencing.
Money-related conflicts are common in marriages. Even relationships that are otherwise solid can break down when finances are an issue, especially when the spouses did not take the time before marriage to discuss and understand each other's financial mindsets. For some California spouses, money is symbolic of other, deeper things, such as trust, security and selflessness.
The automatic assumption that many in Manhattan Beach may have going into divorce proceedings is that one said will be required to pay the other alimony. If you follow this same line of thinking, then you should know that spousal support or maintenance (other terms for alimony) is not automatic. The court considers a number of different factors when determining if alimony is truly warranted in your case.
Life will indeed go on after your divorce in Manhattan Beach. That may eventually lead you to want to move away from the area to pursue other relationships or professional opportunities. One thing that could potentially complicate a relocation, however, is your custodial situation. Many in your same position have come to us here at Rombro & Manley LLP asking how they can make a move work while still maintaining their current custody arrangement. The answer to that question depends on the circumstances of each individual's custody case.
Those entering into property division proceedings in Manhattan Beach may be surprised to discover that their 401k's will inevitably end up on the table. That fact should not come as a dramatic shock, however; 401k contributions come from one's income, and as any income earned during a marriage is considered marital property, so too would any contributions made from it. 401k account holders should realize, however, that the total value of their accounts may not be subject to division; rather, only those contributions made during their marriages are divided.