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Three things to know about high-asset divorces in California

You and your spouse have spent many years building your lives together. The success that you both experienced has left you in a very comfortable place. However, if you start to experience problems in your marriage, you need to be sure that you are protecting yourself when you are contemplating the division of your marital property.

For couples with significant assets, this is often a very contentious part of the divorce proceedings. Each spouse will have specific interests that they wish to protect, and you may find yourself unable to reach any basic agreements on the property that you both own together. This posting discusses some of the important things that you need to know concerning the division of marital property in California. 

You must be sure that you have a complete accounting of your all of your marital assets and debts

This is an essential first step in any divorce. Before you even think of filing, you should gather all of the information that you can about the assets and debts that you have accumulated while married. This will help a great deal, as once you file for divorce this information can be much more difficult to obtain.

Next, you should speak to experienced financial professionals to have them evaluate any business or investment interests that you may own with your spouse. This ensures that you will have a clear idea of the value of your property when it comes time to find a property division settlement in high-asset divorces.

In California, each spouse is entitled to an equal share of the property or debts that were acquired during the marriage. Creative solutions may be necessary in order to find the right agreement for you and your spouse.

The decisions you make now will impact your future. Choose wisely.

You may be used to a certain standard of living that you and your spouse enjoyed while married. No matter how much each spouse was contributing financially to the household, a divorce will change everything. The amount of money that you have to work with each month will change dramatically after a divorce.

Because of the high amount of stress that is often present during a divorce, you might be tempted to make quick decisions about the division of your marital property. Know that this is perhaps the worst thing that you could ever do in this situation. The decisions that you make at this time are very difficult, almost impossible even, to reverse without evidence that one of the parties was concealing assets. Do not make a decision that results in severe financial hardship in the future.

You need an experienced attorney on your side

You may think that you know exactly what you want to accomplish with your divorce. You and your spouse may have even agreed to the basic parameters of a property division settlement. Before you sign anything, you need to speak to an experienced family law attorney about your case.

Your attorney can review your case and help you determine if a potential settlement is in your best interests. This will help ensure that you are able to make a clearly-informed decision about the issues you are facing. By taking the time to examine the agreement carefully, you will be able to help yourself have a more positive future. 

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