When divorcing in California, the couple’s community property must be divided between the spouses in an equitable manner. Courts have broad discretion when it comes to assigning values and dividing assets in a divorce. But, what about your business?
EXCHANGE FINANCIAL DISCLOSURES
No later than 60 days after filing the petition, the spouses must exchange financial disclosure information. You do this by completing a Declaration of Disclosure and having a third party, at least 18 years old, serve it in person or by mail to the other spouse.
SUBMIT DIVORCE FORMS
The spouse who is requesting the divorce must complete several forms and file them with the family court in the county where one spouse resides. You may ask an uninvolved friend or relative, county sheriff, or professional process server over the age of 18 to serve the divorce papers to the respondent, complete a Proof of Service Summons, and return it to you for filing with the court.
REACH A SETTLEMENT AGREEMENT
While litigating the divorce in court is an option, most couples involved in an uncontested divorce should at least try negotiation or mediation. This gives them more privacy and more control over the case than if it were to go to trial.