How do I handle pre-divorce and post-divorce financial issues in a collaborative divorce?

Pre-divorce financial issues are often some of the most important and difficult to manage when going through a collaborative divorce in California. It is important to understand where you and your spouse currently stand financially and to create a plan to address any discrepancies or financial needs that arise during the divorce process. The most significant financial issue during a collaborative divorce is the division of assets and debts. This is often done through a process called “equitable distribution.” Equitable distribution is an organized and fair way to divide property and debts, such as vehicles, homes, and credit card debt. The goal is to reach a settlement that is fair to both parties. These financial considerations should be discussed with your attorney and/or your financial advisor before making any major decisions. In addition to dividing assets and debts, pre-divorce financial planning should also include calculating expenses for each party, as well as discussing the option for spousal support if necessary. It may also be helpful to discuss long term financial goals, such as retirement savings and estate planning. After the divorce is finalized, it is important to update any accounts and make sure that any debts and assets are in the correct name. It is also important that both parties understand and follow the court-ordered guidelines regarding alimony, child support, and any other financial considerations mentioned in the divorce agreement. Post-divorce financial planning may involve setting up a budget, creating a savings plan, or even establishing credit. No matter what your financial circumstances, it is important to consult with qualified professionals throughout the entire collaborative divorce process to ensure that your financial rights and interests are protected.

How do I handle pre-divorce and post-divorce financial issues in a collaborative divorce?

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