Santa Clarita Divorce | What Is An Equalization Payment? | Divorce661.com

When going through a divorce in Santa Clarita you get to decide how to divide up your assets and debts and other decisions that have to be made.  And hopefully you are going through an amicable divorce…

When dividing up your assets and debts sometimes one spouse may have more assets or debts in their name and you may need to even out the assets and debts values that each spouse is going to receive in the divorce case.

One reason this may come up is as follows.  Let’s say that you both have a pension. Spouse # 1’s is worth $100k and spouse # 2 is worth say $50k.  And let’s further assume that you guys did not want to prepare a QDRO and divide up the pensions.  Lets also assume that there is some other monies, such as the equity from a home from a sale or potential sale of the home.

What you guys could do in this situation is instead of dividing up the pensions, you could equalize the amounts received through the  equity of the home.  So we know spouse # 1 had $50k more in their pension. So $25k, has to come from somewhere to equalize the amount to be received by each spouse to make it even. (keep in mind, this is not required – if you both agreed that one spouse can keep more than the other, that is fine too)

So what you could do here is spouse #2 could receive an additional $25k in equity from the home to offset or equalize these amounts. Another idea, is one spouse could take on more debt to equalize the total amount received in the divorce.

When going through and amicable divorce in Santa Clarita and using a service such as Divorce661.com you have a lot of options when dividing up your community property.

Divorce661 is located in Santa Clarita, CA and provides a full service divorce solution across California. If you are going through an amicable divorce in Santa Clarita or anywhere in California we would love to assist you.