For many women facing divorce, one of the first crucial questions that needs an answer is the question of financial stability after the process is over. If you have stayed at home to raise your children or otherwise have not worked during your marriage, you may wonder whether you will need to find work after your divorce.
There are many possible responses to the question of your post-divorce financial security. It is important for you to understand the various options for spousal support after a divorce as well as asset division in the divorce proceedings. Once you know what your options are, you will feel more confident about facing your financial future.
Every state has different laws about how courts order spousal or partner support. In California, the court may order one spouse or partner to pay a certain amount of monthly support to the other after the divorce. The courts base the spousal support decision on several different factors, including how long the marriage lasted, the impact having a job may have on raising children, each spouse’s financial resources and ability to pay, as well as other issues. Spousal support may be one component of your financial future, depending on your circumstances.
If you and your spouse do not go through mediation or alternative dispute resolution to find shared solutions, the courts will also determine how to divide marital property in the divorce. California is one of a handful of community property states. This means that the courts, in principle, equally divide marital property. However, this does not necessarily mean that the courts divide property 50/50. There are various conditions that go into determining how to divide marital property. Assets and property that you and your spouse acquired during the marriage will play a role in your future economic situation.
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