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May 23rd
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Home Consumer Evangeline Giron Divorce process and its financial aspect

Divorce process and its financial aspect

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DIVORCE is a difficult process. In addition to the stress and emotional turmoil, the financial ramifications can be overwhelming and complex.

California divorce (dissolution of marriage) can be filed by either spouse to end the marital relationship. If both parties are in full agreement on all the major issues in a divorce, they can typically proceed by filing an uncontested divorce in California (sometimes called a “joint” or “consent” divorce). Uncontested divorce procedures are generally simpler than contested divorces and much less expensive than a contested divorce (when the parties are not in agreement). Upon completion of a California divorce, the parties are restored back to single status.

The process for an Uncontested Divorce

In most uncontested divorces, the parties are representing themselves (in pro per). A dissolution proceeding is initiated by the filing of a petition by one party. California is a “no fault” state, meaning that the reasons behind the divorce are not taken into account. If one of the parties does not have to want the divorce to happen, this also does not matter.

The petition is then served (either personally or by mail) upon the responding party. The party originally filing the petition is known as the “Petitioner” and the other party is known as the “Respondent”. The date of service of the petition on the Respondent is important, as it begins the 6-month waiting period between the start of the dissolution and eligibility to request that the marital status of the parties be terminated and Judgment entered. If all issues are not resolved at the end of the 6-month period, and you would like your marital status terminated, this can also be done. It is not possible, however, to terminate your marital status earlier than 6 months from the date of service of the Petition. Until your marital status is terminated, you are not free to remarry.

Following receipt of the petition, the Respondent has 30 days (unless additional time is granted) in which to file his or her responding statement to the facts. If the Respondent fails to answer the petition within this deadline, he or she may lose any rights they might have (after that time, the case may be set for a Court hearing or a Judgment by Default may be granted).

After service of the petition, the parties may successfully conclude their divorce matter with a full Marital Settlement Agreement providing for equal division of their community property and for custody, visitation and support of children and/or spouse. Where the parties have arrived at such an agreement, the agreement is incorporated into a “Judgment” which is then signed by the Judge and made an order of the Court. A personal Court appearance may be required, but normally an appearance is not required if both parties sign the Judgment.

Financial aspect

On the side note, the emotional upheaval of a divorce is no time to be learning money basics and selecting professional advisors. Because a divorce comes with a timeframe, major decisions will need to be made in a relatively short period. These will include splitting assets such as your home, cash and investments, including retirement accounts, as well as liabilities, including your vehicle loans and joint credit card debt. Preparing before it happens isn’t cynical – it’s smart. Learn about your finances, it’s never too early to start.

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Evangeline is a California registered tax preparer, a legal document assistant for the general public, and a freelance paralegal offering assistance to various attorneys. She can be reached at her office at 2451 Colorado Blvd. #2, Eagle Rock, CA 90041 or at her marketing location inside the Eagle Rock Plaza. Her phone number is (323) 550-1869 or you can check her website at: www.evangelinegiron.net. She is a member of the court-endorsed California Association of Legal Document Assistant (CALDA) and an Associate Member (Non-attorney) of the LA County Bar Association (LACBA).

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Note: Evangeline is not an attorney nor does she provide legal advice. She is a bonded and registered Legal Document Assistant and prepares legal documents per the specific direction of clients.

(Advertising Supplement)

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