When going through a trying time, one of the main goals many individuals have is to protect themselves. Whether the protection needs to address emotional, physical or monetary concerns, individuals often want to find out their best options for adequately preparing. When it comes to divorce, protection may need to come in different forms, but for many California residents, ensuring that their finances are not decimated may be a primary goal.
In order to protect finances and assets, individuals likely need to first know what those assets are. Therefore, a prudent step to take would be to inventory the property and determine what separate property each party may claim. Once an individual determines his or her personal assets, it may become clear what additional steps could help protect those assets.
When it comes to marital property, understanding how state laws affect property division could seriously impact preparations as well. Because California is a community property state, marital assets are split between each party as close to 50-50 as possible. Therefore, if there is a specific marital item greatly desired by one party, that individual may wish to determine how to go about potentially obtaining that item in the settlement.
Because many of the decisions made during a divorce process rely on a multitude of factors, each individual may wish to give his or her particular case full assessment. By understanding how property may be affected and what goals they hope to achieve, divorcing California residents may have a better idea about what steps may help them during their proceedings. Additionally, obtaining reliable legal information from experienced attorneys may also help give interested individuals a leg up.
Source: businessinsider.com, "How to keep from losing everything in a divorce, in 6 steps", Emmie Martin, Feb. 1, 2017