Pleasanton Family Law Blog

When your divorce is finalized, you probably hope to continue living in the comfortable manner to which you were accustomed during your marriage. You may have heard of friends or relatives who struggled financially after their divorces, and you want to take every precaution against that, if possible.

If you and your spouse have considerable wealth, the actions you take during property division can go far in ensuring you obtain your fair share of that wealth under California law. While you may have to make some adjustments in your living arrangements, spending habits or job situation, you can take steps during your divorce to avoid some of the common mistakes that can be detrimental to your post-divorce finances.

When you and your spouse chose to enter a marriage, you likely did so with every intention of staying together for the remainder of your lives. However, with studies indicating that as many as half of all marriages result in divorce, until death do us part might not always be the outcome.

While making the decision to divorce can be a stressful and emotional process, in some cases, it could also be the healthiest decision for everyone. Even if you feel that taking separate paths is the healthiest option, you might still find it challenging to prepare yourself for what comes next.

The value of a business can play a major role in many aspects of the company. Knowing the value could prove important if someone wants to buy the company or when considering other possible business ventures and the potential impacts such moves could have overall. Of course, another situation in which this information proves vital is during divorce.

Whether you own the company, co-own with a spouse or have no direct dealings with your spouse's business, its value can impact the terms of your divorce settlement. Therefore, you will certainly want to make sure that you understand the importance of obtaining a business valuation.

Your business is important to you for many reasons. You have probably invested a lot of yourself into its success. Like most California business owners, you have sacrificed personal time, energy and money into growing your company. Now that you are getting married, your dream may be to continue growing and to pass your vision to your future children. Hard as it may be to imagine at this joyous and optimistic time in your life, there is one thing that can shatter your dreams: divorce.

It is likely the last thing you want to think about, but as a business owner, you know the importance of assessing and dealing with potential risks. If your company continues successfully, a divorce court will likely consider that increase in value to be marital property, which you will divide with your spouse. Additionally, marital debt may complicate your divorce if your spouse's creditors see your business as an asset to claim. By not having a prenuptial agreement, you may place yourself and your employees in jeopardy.