Regardless of the particular state someone lives in, making the decision to divorce is never something to be taken lightly. State residence, however, can indeed have a significant impact on the ultimate outcome of a case. This is especially true regarding property division proceedings. There are currently nine states in the U.S. that operate under community property laws in divorce, and California is one of them.
Many married couples choose to live in California for the weather and/or other amenities. Not all of them take time to research divorce laws before moving to a particular state. Any spouse confronting divorce proceedings involving high-net worth property division will want to become familiar with the community property guidelines that are followed in this state.
Many California married couples enjoy the luxuries and benefits that come from earning high incomes. When such couples file for divorce, high-net worth property division issues can be quite complex. It is easy for obstacles to arise and critical to understand how community property division rules work and what options are available to help protect assets.
Many California married couples are property owners. In fact, some spouses invest in multiple real estate endeavors during marriage, which can create complications regarding high net worth property division if they later divorce. A political candidate in another state understands this all too well as she is currently facing numerous legal and financial problems related to her divorce.