Untangling the Financial Realities of Modern Divorce
The financial aspect of divorce has become as complicated and perhaps more so than the emotional one. In terms of going through a Sherman Oaks divorce, it is important to not only consider the legal aspect of the process, but also the financial. There are a thousand tiny things between splitting assets and planning ahead. Since California is a community property state, spouses generally share ownership of most assets and debts acquired during a marriage, and they’re usually split 50-50 in a divorce. But what constitutes community property can be more complicated than it appears. Pensions, stocks, real estate, intellectual property all of it can be fair game with a Sherman Oaks divorce, which is why experienced legal advice and financial experts are a must. Apart from property division, alimony is another critical element. The courts consider, among other things, the length of the marriage, a spouse’s earning ability and each spouse’s standard of living when decidin...