Is California a Community Property State?
California is a community property state. In community property states, any property acquired by spouses during a marriage is considered marital or community property. Absent a written agreement like a prenuptial or postnuptial agreement; all community property is subject to equal division by the court. To divide community property, the court totals the net worth of the community assets and subtracts the community debts from that amount. The remaining asset…Read More
How are Financial Investments Divided in a Divorce?
How financial investments are divided in a divorce depends upon the state in which a couple divorces. In California, financial investments are divided according to California’s laws governing community property. Any assets acquired during the course of a marriage in California are considered community or marital property and are divided equally upon divorce. Financial investments may be excluded from statutory division in a divorce if another arrangement is specified in…Read More
What is a Gray Divorce?
While more marriages end in divorce than in the past, there is one age group out-pacing the others. These are the Baby Boomers. Divorce among the fifty-five and up demographic has more than doubled in the past twenty years and remained so ever since. This upward trend has led divorce lawyers to name these divorces and the special considerations that come with them “gray divorces.” What are the Different Needs…Read More
How are Royalties Split During a Divorce?
A royalty is a sum of money paid to another person in exchange for using their property. Royalties may be paid to use a person’s music, art, photography, writing, or patented and copyrighted items. Any item that generates royalties is an asset, as is the income generated. Although the property that produces royalties is intellectual property, royalties are one of many types of assets subject to division in a California…Read More
Is My Ex Entitled to My 401K Plan in a California Divorce?
One of the most valuable assets possessed by spouses is their retirement savings. While 401K plans are treated much the same as other marital assets in a California divorce, there are factors to take into account when dividing these assets accurately. The following provides some general considerations and rules applicable to California property division, including 401K plans and pensions. For case-specific information, seek the advice of an experienced Los Angeles…Read More
Am I Liable If My Spouse Causes a Car Accident?
No one gets up in the morning and expects to be involved in a car accident. Unfortunately, accidents happen every day. Accidents don’t just affect the drivers and passengers who were involved in the crash. Injuries, financial expenses, and emotional trauma can also have a huge impact on family members. Legal issues arising from an accident can also be particularly troubling for families. It’s possible that you could be held…Read More