A California divorce enables married partners to separate their lives in both tangible and intangible ways. The divorce process severs the marital relationship between the married people and allows them to exist as single individuals. It also facilitates the division of their property and assets into sets that may be taken by each and owned individually.
How different California couples choose to prepare for their lives in marriage can vary greatly. Similarly, how those couples then choose to approach the challenging process of divorce can also be very different. Whether the couples have kids, own property or have experienced a number of other life events can drastically influence their perspectives on how to disentangle their lives from those of their partners.
The events that precipitate divorces can play out quickly or may develop over long periods of time. A single event may be enough to tear Stockton spouses apart; nagging issues between a husband and his wife may also slowly deteriorate a long-term relationship. Whether their relationships end quickly or over time, many couples endure periods of separation before finalizing the ends of their marriages.
There is no doubt that California has more than a few residents of exceedingly high wealth. Several of the state's major cities serve as international hubs for industries such as technology and entertainment. With power players and industry leaders living and working within the state, a huge amount of wealth is preserved in the net worth of some of California's residents and couples.
Divorce can happen at any stage of a San Joaquin County couple's marriage. The partners to the relationship may discover shortly after tying the knot that they are not compatible as a married couple. The discovery that they should not be married may not occur until after they have lived together for some time and maybe even had children. For some, realizing that divorce is a necessity does not happen until decades after the wedding and when the couple has amassed a fair amount of wealth.
The parties to marital dissolutions make every divorce different. No two California couples will have exactly the same successes and problems as they work through their familial and property responsibilities. It can seem, however, that the more property a couple has, the more decisions they must make during divorce. During a high asset divorce, high net worth issues can make the process particularly complex for wealthy individuals.
Anyone who has gone through or who has looked into divorce in California may have come across terms like "community property" and "separate property." These terms are associated with how a person's owned items may be classified when a court divides a divorcing couple's possessions. While the terms may seem to only address physical items owned by parties to a marriage, they also apply to intangible assets as well as the debts and liabilities of the divorcing parties.
When facing a divorce, a California resident may be flooded with thoughts regarding how his property and possessions will be divided between himself and his soon-to-be ex-spouse. Who will get the family home? Who will get the retirement accounts? Answers to these questions may create concern and anxiety in a person who has grown accustomed to sharing his assets with another person.
Most Californians will never know what it is like to have their personal wealth grow into the billions of dollars. It seems as though only those individuals who are born into wealth or who have extraordinary luck and perseverance end up with such vast sums of money. While having great wealth may seem like a fantastic benefit to some, few realize the headaches such prosperity creates when an affluent person is subject to a divorce.
A divorce can be stressful for any number of reasons. People are splitting their lives and moving on in their own directions. For couples with a large number of assets, the divorce process can lead to even more headaches as people fight to keep valuable property and secure their financial stability. In many cases, people need to be extra careful during a high income divorce that their interests are protected from the start of the case until the divorce issues have been decided.