Many Californians worry about keeping things fair in a divorce case. If you are concerned about being taken advantage of financially in a divorce you should be aware of the steps to take to ensure fair proceedings. Working with one of the experienced divorce attorneys at Burke & Domercq can help a divorcing spouse to more fully 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 divorce 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. Changes in recent tax laws have affected the taxable status of child support and spousal support.
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.
Keeping things fair in a divorce requires an effective partnership between our attorneys and our clients. The end of a marriage is a long process that can be emotionally taxing, but staying determined and working with our experienced family law attorneys can make things easier. In many cases, our attorneys 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.