When California couples decide to divorce, they will need to address a number of financial issues. For example, they may have to divide retirement accounts. In order to avoid having to pay taxes and penalties when the account is divided, a qualified domestic relations order might be necessary.
These aren't the only financial issues to address. For example, the couple may need to sell a home, or one spouse might refinance it. Spouses should also separate any joint accounts. Those who do not have their own credit record may need to start establishing one. In addition, it may be necessary to revise an estate plan. For example, an ex-spouse may need to be removed from a beneficiary designation.