Dividing Retirement Plans in a Divorce

Dividing property in a divorce can be tedious. Everything you acquired during the marriage is now subject to the community property rule and will need to be equally divided under California family code section 760. Depending on how long your marriage has lasted; you may have made significant contributions to a retirement plan while married to your spouse. Dividing a retirement plan isn’t entirely different from dividing any other community…

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When is a Business Community Property?

When starting the divorce process, you may be concerned about protecting the assets you’ve worked hard to acquire. In California, property acquired during the course of a marriage is considered community property. Property acquired prior to the marriage is considered separate property. Closely held businesses are considered a divisible property during a divorce. While some assets may be clearly defined as either community or separate property, often business ownership comes…

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What is Temporary Spousal Support?

Spousal support is intended to be temporary financial support paid to one spouse by another during or after a divorce. These funds are meant to help the receiving spouse become self-supporting. Spousal support can be ordered temporarily during a domestic violence case or during the divorce process, after the couple stops living together but prior to the finalization of the divorce. This spousal support, called temporary spousal support, may be…

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How is Spousal Support Determined?

Do you and your soon-to-be ex-spouse have significantly different incomes? Did one of you work, while the other stayed home to take care of the family? Did you give up your education career to help your spouse pursue theirs? If so, spousal support will probably be a factor in your divorce. You and your spouse will have to agree on the terms of support before your divorce can be finalized….

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Is Child Support Taxed?

Child support is the basic financial responsibility of all parents of minor children. Parents, whether together, separated, or divorced all carry with them a responsibility to care and provide for their children. How much you will have to pay or will receive depends on how much residential time you spend with your child and the financial resources of both parents. Child Support is Not Taxable Child support is not income…

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Will Child Support Cover Private School Tuition?

Child support is ordered to ensure every parent fulfills their responsibility to care and provide for their children after separation or divorce. Basic child support is meant to cover the basic cost of caring for and raising a child. State guidelines require this amount to reflect: the incomes of the parents, and how much residential time each parent has because during that time they are responsible for covering basic day-to-day…

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Why is Our Date of Separation Important?

When you first decide to get a divorce, you may be at the end of a long rope of a weakening relationship. Divorces can take some time while you are working out negotiations, but during this time you may be living separately and beginning your own new lives. Temporary child and spousal support may be ordered during this time and you may be restrained from taking any significant financial actions…

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How is Child Support Calculated?

Child support is ordered in every divorce or separation that involves a minor child of the parties. The family law courts see both parents as being financially responsible for their child, regardless of custody or visitation agreements. The amount of child support varies based off of a few factors that reflect financial resources of the parents and the residential time each parent spends with the child. Child support in California…

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