Even when a couple parts on good emotional terms, once the monetary arbitration begins, things can get messy. Neither party wants to feel as though they have gotten the short end of the stick, and the stakes are high. In Los Angeles, when couples get divorced they will likely argue the whole time.
From an outside perspective, it may seem easier to just get it over with, give each other what the other wants and move on. Even a party in the divorce who perhaps feels guilty over the failure of the marriage could see this as a solution. The end result of one party giving the other more than what they are due is the same. Agreeing to an unfair settlement could impact someone for the rest of their life. It may seem futile and time-consuming, but only by taking the time and approaching the situation logically and objectively will a fair settlement take place.
In order to get one over on their spouse during the division of property, one spouse may try to hide their assets. This can be done in any number of ways, but however it is done, it is fraud. It may be worth it to the party with lesser resources to pay a professional to investigate the financial affairs of their spouse during the divorce. If anything is found, it will affect the credibility of the offender and they will end up losing even more assets.
When a couple divorces they will need to execute a financial affidavit. They will also need to supply a financial inventory of assets and expenses. It should be current and thorough. It is important that it is done properly because, while time-consuming, if done improperly it could leave one party with debts that they should not be responsible for. It could mean losing property or adequate spousal support as well. Taking the time now will be well worth it when you consider the negative consequences of not doing it.
These are not the only considerations, of course. The most important point is keeping a cool head and hiring a good divorce attorney that can get you a fair settlement.
Farbod Majd Esq.
Divorce Attorney w/ offices in Beverly Hills/Los Angeles
Services in English, Turkish, and Farsi/Persian (Iranian/American Lawyer)
8383 Wilshire Blvd Suite 646, Beverly Hills, CA 90211
310.956.4600 | Fax: 310.878.8989 | [email protected]