Many California spouses feel trapped in marriages where they have little to no freedom to make independent decisions. Especially where finances are concerned, many people would rather file for divorce than continue having to run every expenditure or financial move past their partner for approval. Some may be surprised to learn that, even after filing paperwork to end a marriage, spouses must still disclose financial information to each other.
Reality TV fans have been made privy to the details of numerous marital break-ups on certain shows. Several of these situations pertain to financial disputes, custody battles and property division issues. To avoid similar problems, non-celebrity spouses may want to learn from the experiences of their favorite Bravo stars.
Regarding financial matters, before a settlement is achieved, both spouses must continue to fully disclose any and all information regarding bank accounts, investments, business assets and even personal spending habits. This, in fact, is often a means for catching someone in the act who is trying to hide assets to keep them from being subject to division during property proceedings. A spouse who suspects a hidden asset problem can request answers to specific questions related to finances during the interrogatory phase of such proceedings.
Once a divorce is finalized, it definitely leads to a more independent lifestyle for most people. However, knowing that full disclosure is required leading up to that point may influence the decisions California spouses make. If a legal problem arises regarding property division, child support or other financial-related issues, a request for guidance and support can be sent out to an experienced family law attorney.