Most readers would agree that California spouses often relate to one another when it comes to marital problems. While no two divorces are exactly the same, many spouse find the stories of others sounding quite similar to their own. When it comes to property division proceedings in divorce, however, California is somewhat unique because it operates under community property guidelines.
The majority of other states use equitable property guidelines in divorce. In this state, a judge overseeing a particular case is likely to split all marital assets and liabilities 50/50 between both spouses. Knowing this, some spouses resort to hidden asset schemes as a way of trying to beat the system and gain the upper hand in proceedings. This type of activity is illegal.
You are obligated to full disclosure when it comes to listing assets and debts before heading to divorce court. The value of homes, vacation property, vehicles, pension plans, investments and other financial issues, such as credit card debt or unpaid loans, have significant bearing on the court’s decision-making process. If you signed a prenuptial agreement before marriage, you or your spouse may have separately owned property that will not be subject to division in your divorce.
Did you work to support your spouse as he or she pursued post-secondary education during marriage? Do you and your spouse co-own a business? Did you sacrifice a career to stay home and raise a family? These and other issues can be complex, and can make it challenging to negotiate a fair settlement.
Rombro & Manley LLP is committed to providing strong support to any concerned spouse in California who needs guidance regarding property division laws or other financial matters in divorce. If your ultimate goal is to make sure your financial interests are protected, it pays to act alongside experienced legal representation in court. It also helps alleviate stress because you can focus your attention instead on making plans for the future and allow someone well-versed in divorce laws to worry about the legal issues for you.