The divorce of a medical doctor in California is likely to deal with some common financial issues. The most critical of those issues will be placing a value on the doctor's practice for purposes of property division. Divorce negotiations involving a successful medical professional will often involve the use of an expert forensic accountant. Many of the same considerations will generally apply to the determining the value of other professional practices.
When negotiating a marital property settlement in California, it is important to remember that debt owed by the spouses jointly must be resolved as part of the agreement. If that is not done, troubles with debt can crop up long after the divorce has been entered and finalized. For example, some credit cards may have started out as the debt of one of the parties only.
A divorce can be an emotional roller coaster filled with tough human feelings such as hate, jealousy, revenge and the like. In California and elsewhere, however, there are alternative methods that may be more suitable for a couple that is splitting on a more friendly and amicable basis. A major alternative is called a collaborative divorce, and it looks at the process in a different light -- one might say a kinder and gentler light.
In California and elsewhere, the plight of a woman who is getting a divorce is a riskier proposition generally than that faced by a male spouse. Statistically, women are living longer than men, and there are twice as many women over 50 who are divorced or getting a divorce today than 20 years ago. Women do not remarry as often as men and they generally make less than men. All these factors combine to make it necessary for divorced women to save a larger chunk of their income for retirement.
Over the years, the majority of decisions that an individual and a couple makes can have a tremendous impact upon their long-term financial security. Thus, when a California couple decides to divorce, financial ramifications are almost a certainty. However, this impact does not necessarily have to be a negative one.
The fall season usually marks an increase in divorce filings in California and other states. Distractions during the summer keep divorces to a minimum, setting the stage for a burst of activity after summer ends and the kids return to school. For people facing an imminent divorce, there are some general financial tips to keep in mind for an easier transition.
California is host to some of the highest profile divorce cases in the country. Such cases occur also in other states. The divorce matter of Richard and Alicia Stephenson has been inching through the family law courts of another state for many years, but a decision by the trial court may signal a final determination. Richard is the multimillionaire founder of the Cancer Treatment Centers of America.
Numerous factors can play into whether a marital relationship could come to an end. Even though many California residents may begin their marriages thinking that the relationships will stand the test of time, many issues may seemingly come out of nowhere. Studies show that there are many common aspects that could result in married individuals turning toward divorce.
Many people enter into marriage dissolution proceedings with ideas of what they hope to achieve. When parties are dealing with considerable amounts of wealth as part of their divorce process, the situation may turn contentious and take a great deal of time to sort out. California residents may find such a situation currently underway in another state interesting.
Ending a marriage can often be a time of confusion and stress for everyone involved. As a result, some California residents may find themselves wanting to get through the legal proceedings for divorce as quickly as possible. However, they may also wish to remember that making hasty decisions just to complete the process may have negative effects.