15 January 2011 0 Comments

Finances and divorce

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Each year there are approximately one million divorces in the United States.  With divorce comes financial devastation.  When a family is accustomed to a certain standard of living, it is difficult to live any other way.  The result is oftentimes fear and resentment.  One or both parties may get angry and demand as much money as possible from the other.

Working together to come up with a plan can often minimize a lot of pain and anguish.  With the help of an experienced California Family Law attorney, couples can arrive at a good, healthy, working plan for all involved.  They will be able to recognize the future needs of each family member and develop a strategy that works for all – the healing process can begin.  A plan will help each partner to know where they stand financially. 

Working together is best when child support is concerned.  California law uses a formula to calculate the total family income allocable to care for the children.  It also helps determine how much money one parent pays the other in order to meet the needs of the children. 

In the long run, successful financial planning during divorce will help the parents determine what they need and how can they get there.  If you are contemplating divorce or going through one and need help, contact an experienced California Family Law attorney who will work with you every step of the way.

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