What factors does the court consider when calculating the financial settlement in a divorce?
This is one of the most commonly asked questions in a divorce. It is important to know what these factors are so you can have a better grasp of your finances as you move forward.
When calculating a financial statement in a divorce, the court looks at the financial resources of both spouses. This means that the court will assess not just the earning capacity at present but also the earning capacity of individual parties based on the assumption that all income-generating opportunities have been considered and factored in.
Aside from this, the court also considers the standard of living of both parties. This factor is often one of the things that stand out in a divorce involving individuals with high net worth. The court considers the decline in the standard of living during the divorce proceedings after all property and asset division matters have been settled.
The court also looks at the contributions made by both parties during the marriage. There are many other factors that the court evaluates when calculating financial settlement and because no two divorces are the same, it’s best to have your situation evaluated by Santa Barbara Divorce Lawyers of Kaspar & Lugay, LLP.
