As previous posts have indicated, obtaining a divorce can be a trying matter, but with the proper assistance and knowledge, a fair outcome often results. Sometimes, the reasons why individuals hold back on separating can be surprising. While the typical reasons for divorce are easy to determine, including financial issues, adultery, growing apart and disagreement over child rearing, why a couple might wait to separate is not always as obvious.
California residents may be interested to know that some experts point to the economy for reasons why a couple may hold off getting a divorce. Specifically, with the recent financial crisis, many couples found the idea of divorce most troubling because the issue of property division could be difficult when finances were so questionable.
Along with the improving economy, however, has come an influx of divorces. Now that fewer couples face foreclosure or other financial burdens, they are free to obtain a divorce without messy liability discussions on top of the fear of being left with no assets post-separation.
California is a community property state, which means that a court splits assets mainly evenly in the event of divorce, no matter how much non-marital property or assets one individual takes away. This is why it is so important to be aware of the total assets and liabilities in a couple’s possession when obtaining a divorce. Full knowledge of how much one will have to live on post-separation is truly important information to obtain in order to make the divorce process as pain-free as possible.
Source: Los Angeles Times, “Divorces increase as improving economy makes split-ups affordable,” Stuart Pfeifer, Sept. 18, 2013