Financial errors in a California divorce can be costly

Pierre Domercq Divorce

Couples in California who are getting a divorce often have to deal with the emotions and other issues that can accompany such a drastic life change. Missteps made by divorcing people make can cost time and money. They include a lack of knowledge about assets, an absence of competent financial and legal advice, and agreements or expectations that are not reduced to writing.
Mistakes can lead to serious problems down the road whether it is a high asset divorce or one in which the finances are more modest. Community property division is a common cause for disputes. While the asset division is often a matter of mathematics, many spouses are completely unaware of their financial circumstances. Some spouses try to hide money or other assets in anticipation of a divorce. Making unrealistic and unwise concessions just to get the proceeding over with can be a poor decision.
Experts in relevant areas can provide assistance. It is not necessary to have a vast team of attorneys and financial professionals to garner quality advice. It is even possible for both spouses to use the same financial adviser to try and keep the divorce civil and come to a fair distribution of assets, although they cannot have the same attorney due to conflict of interest rules. One common mistake is to simply acquiesce to the other spouse’s demands or to think that the spouse will be ‘fair” in adhering to oral agreements. If an agreement is not made a part of the final divorce decree, difficulties could arise in trying to enforce it in the event of a later dispute.
A discussion concerning the division of property is just one of many divorce matters that can often become contentious. A family law attorney might be of assistance to a spouse in helping to negotiate a comprehensive settlement agreement that covers the relevant issues.