Keeping things fair in a divorce

Pierre Domercq Divorce

Californians worried about being taken advantage of financially in a divorce should be aware of the steps they can take to ensure fair proceedings. Working with a divorce lawyer can help a divorcing spouse understand his or her rights and responsibilities. Working with a financial planner may also be beneficial if a divorcing spouse has not had an active role in the household finances. From taxes to unknown debt, there are a variety of financial obstacles that can come up during the process.
Taxes are a complicated aspect of divorce, and it is common for ex-spouses to discover that property they gained during a divorce is not worth as much as they thought after income taxes are figured in. Some assets can be cashed out without tax penalties, but others may be reduced significantly. There are also various tax policies that affect support payments. Child support is not taxable to the recipient, but alimony payments are.
Negotiating during a divorce requires a level-headed approach that is free of emotional extremes. It is important to remember not to give up just because the divorce process is often long and difficult. Many people give away too many assets due to exhaustion, anger or guilt, leading to long-term regret.
The end of a marriage is a long process that can be emotionally taxing, but staying determined and working with a family law attorney can make things easier. In many cases, an attorney can assist a client who is facing a divorce in negotiating an agreement with the other spouse that covers the applicable legal issues and which can be then approved by the court and made a part of the final order.