How to Handle Separate Property During a Divorce
In every California divorce, all community property must be divided equally between the two spouses. Community property is all property acquired during the course of the marriage, but prior to separation. Separate property is property not subject to California’s community property rule in divorce. Property is considered separate when it is: acquired prior to marriage, after separation, or acquired during the marriage through certain kinds of gifts or inheritances for…
Read MoreWhat Does a Forensic Accountant Do?
Dealing with the dividing of family finances is often one of the most contested areas of a divorce. Couples with significant assets, an overall high net-worth or with issues of self-employment or business ownership may face more difficulties when approaching divorce financials than others. Fortunately, there are professionals who can help you ensure the financials in play in your divorce are accurate in full. Experienced family law attorneys will frequently…
Read MoreHow to Keep Separate Property Separate
Under California’s community property law, all property that belongs to the marital community must be divided equally upon separation or divorce. Community property is considered property acquired by either spouse during the marriage, but prior to separation, and with community resources. Property acquired prior to marriage is considered separate property. Property acquired during the course of the marriage can still be separate property if it is acquired through a gift…
Read MoreHow Will My Finances Change After a Divorce?
Everything changes after divorce, not least of which are your finances. Support orders, tax implications and a new living arrangement can mean you have to make a lot of changes in your spending habits. The biggest changes you can expect after divorce are either paying or receiving support and having a different asset profile. You will also have to set up a new household, which is especially important when minor…
Read MoreHow to Account for the Value of Appreciating Assets
Community assets must be divided equally between the spouses of a marriage, as per California’s community property rule. This doesn’t mean everything needs to be sold to split the proceeds, but that the overall net value of the assets is equally divided. While many assets can be readily appraised for an accurate value at the time of divorce, like real estate and bank accounts, other assets can be hard to…
Read MoreHow to Keep Your Assets Secure During Divorce
In a divorce, you may feel financially vulnerable. Suddenly, several different parties will have access to information about your assets for the purposes of determining how much you will have to part with. For most people, this is a nerve-wracking experience. You have worked hard for your financial well being and now you may have to fight to keep as much as you can. However in all California divorces, community…
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