One of the main issues in divorce is the division of assets and liabilities. It seems both parties are always concerned that they won’t be treated fairly. The first step to making sure the community property is divided appropriately is to gather all financial records for review. You must provide all financial documents to the court if you are using traditional litigation, or to your … [Read more...] about Key Financial Records for Your Divorce
Collaborative Divorce
What Makes a High Asset Divorce Different?
The divorce process is always stressful even for couples who agree a divorce is in their best interest. The stress is compounded when there are a lot of assets involved. The one who generates most of the income fears losing a lot of money. The one who generates less fears not getting enough. In an ordinary divorce, couples may own a home, one or two vehicles, and maybe a family business. In a … [Read more...] about What Makes a High Asset Divorce Different?
Do We Need a Business Evaluation for Our Divorce?
One contentious issue that arises during a divorce is when there is a business asset and how to divide it. This is true whether the business is a professional business owned by one spouse, or a family business owned and operated by both spouses. Except in rare cases, the first step is to have the business's worth evaluated. How Valuation of a Business Works in a Collaborative Divorce In a … [Read more...] about Do We Need a Business Evaluation for Our Divorce?
Why Does Divorce Cost So Much?
Unfortunately, when a couple goes through the divorce process, emotions run high and are often the driving force for running up the costs. Traditional litigation is notorious for taking a long time and being quite expensive. A Collaborative Divorce is less stressful and less costly. Costs of Traditional Litigation In traditional litigation, each spouse has their own private attorney. … [Read more...] about Why Does Divorce Cost So Much?
Rebuilding Your Finances After a Divorce
Going through a divorce can play havoc with your finances. Generally, the same amount of money that supported one household must now be divided to support two of them. This often means, at least for a time, each individual's net worth and household income will be reduced. If a couple can work together in a Collaborative Divorce process, you can establish new financial goals and create a … [Read more...] about Rebuilding Your Finances After a Divorce
What to Do About Your 401k In a Divorce Process
One major issue that comes up in a divorce when dividing assets is what to do with the 401k plan. One party often questions why the account should even be divided when the account has been maintained by that person’s employer. California is a community property state, which means all income during the marriage is presumed to be community property. So, income that both parties deferred … [Read more...] about What to Do About Your 401k In a Divorce Process
How to Divorce When You Have a Family Business
Dividing a business during the divorce process often wreaks havoc on the family business. It can be either a crippling experience or one that brings the couple together when it comes to reaching their divorce goals. The Collaborative Divorce Process Helps You Identify Your Goals In traditional divorce litigation, spouses often fight over the value of the business, each wanting to remain an … [Read more...] about How to Divorce When You Have a Family Business