Going through the end of a marriage is a challenging and often overwhelming process. Those who go through divorce not only have to make the emotional decision to separate from the person they married, but they also have to keep in mind all of the logistics that come with divorce. Usually, it’s much easier to start working toward an end goal once it’s known what lies ahead. For those in California who are unsure where to begin with divorce, the following information could be helpful.
One primary goal of the divorce process is to equally divide and distribute marital assets and debts. It is important to understand finances beforehand in order to get a fair share when negotiating the settlement. Individuals should go through their finances and determine what is owned and what is owed.
Examine and evaluate financial accounts
After learning about a divorce, it is not uncommon for a spouse to withdraw money from financial accounts. If this is a concern, open individual accounts and put half in those. It may also be a good idea to freeze investment accounts or money market accounts. Also, pay off and close all joint credit card accounts if possible.
It may be easier and less expensive if spouses are able to settle their separation without litigation. However, this is often not possible. One of the most important things to do in the divorce process is to hire legal representation. Those in California contemplating divorce may want to consult an attorney who knows the value of settling quickly and is also experienced in divorce litigation should the need arise.