Family Law Specialists

Steve Fernandez and Mark Karney are both Certified Family Law Specialists* with over 50 years of combined experience.

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Category Archives: Finances

How Do I Demonstrate Standard of Living in Litigation?

In California divorces, status quo is important. The status quo is the standing of living the two parties to the divorce enjoyed and had grown used to over the course of the marriage. Generally, family law courts will strive to maintain the marital standard of living when they are making a determination on spousal support. Read More>

Can I Buy My Teen a Car Without My Spouse’s Approval?

During a divorce, you and your spouse will be restricted in what financial actions you can take by a set of restraining orders. These restraining orders are automatic and temporary, included in the summons and effective with the filing and service of the initial divorce papers. Read More>

What Fees Are Involved in a Divorce?

Many people hold the opinion that divorce is expensive in every case. Some people may even be hesitant to file for divorce, for fear of the cost. There are several costs that can make a divorce expensive, however getting an idea of where all these costs come from can help you make an informed decision on how to go about getting a divorce. Read More>

What Will Happen to Child Support if I Remarry?

Barring the signing away of parental rights and the subsequent adoption of your child by your new spouse, the other parent will remain on the hook for supporting your child, despite your remarriage. In most cases, the income of a new spouse or partner will not be included in the child support calculation. Read More>

Does Child Support Cover Lessons and Activities for My Child?

Basic child support in California is meant to cover a wide range of expenses that come along with raising a child, from food and clothing to medical care and small living expenses. There is no set list of things child support can go towards because raising a child is simply not that cut and dry. Read More>

Can My Domestic Partner Ask for Spousal Support?

Some couples decide to enter into a domestic partnership instead of a same-sex marriage for personal reasons. However, in the eyes of California family law, a domestic partnership is a lot like a marriage. Read More>

Can I get Financial Support in a Domestic Violence Case?

Domestic violence in the home can result in drastic changes to your living arrangements and financial viability. If you are a victim of domestic violence and have to leave the family home to be safe, you might need financial support to allow you to financially support yourself during this time. Read More>

What is a Post-Nuptial Agreement?

Postnuptial agreements are similar to prenups in that they seek to establish a clear idea of what each spouse has and what they should be entitled to should the couple choose to divorce. However, a postnuptial agreement, set in place after a couple marries, cannot protect your assets to the extent that a prenup can. Read More>

How Can a Divorce Affect My Credit?

During a divorce, your resources of time, money and patience will deplete. Because of this, it is easy to overlook a few late payments here and there. Similarly, if your spouse has been ordered to pay for certain bills during and/or after the divorce, you could be subject to the consequences of them not following that order. Read More>

What Happens to Student Loans in a Divorce?

You may be wondering how your or your spouse’s student loans will be divided in the divorce. If you both have equal student loan debt, the arraignment may be easy to work out. If the debt is more skewed, you may want to focus on dividing the total net value rather than each individual debt or asset. Read More>

Will a Bonus be Considered Income?

Many financial aspects of your divorce will be determined based off of your income information. Generally, the court will consider any regularly occurring bonuses as income, subject to the child support guidelines just as wage earnings are. Read More>

What is Imputed Income?

Income comes into play in many aspects of a divorce. Child support and spousal support, along with the division of assets, require information about both spouses’ income to be calculated according to California family law statute. This income information includes how much a spouse makes as well as how much they can make. Imputed income is what their income could be, given the job market where they live and their earning capacity. Read More>

Will My Divorce Take Longer if I Have a High Net-Worth?

A divorce in California can take as little as six months to well over a year. California residents must wait six months, starting from the date of service upon your spouse, before the divorce can be finalized. There are many reasons why a divorce would take more than the six-month minimum waiting period. Read More>

Can I Deduct Any of My Divorce Costs?

Divorces can be expensive and often bring about significant changes to your finances. If you are going through a divorce, you may be wondering if any of the costs associated with it, such as court and attorney fees, are tax deductible. In general, the IRS does not allow costs associated with a divorce to be deducted from your income. Read More>

What Can be Deducted from My Income for Child Support Purposes?

Child support is calculated based off of the state of California’s standardized child support guideline calculator. The calculator determines child support using several pieces of information but it mainly takes into consideration the income of the two parents and the residential time division between them. Since child support relies so heavily on parental income, there are a lot of details to consider when determining what your income is for child support purposes. Read More>

What 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. Read More>

What is Considered Income for Child Support Purposes?

Child support is calculated based off a statewide, standard guideline calculator that seeks to determine child support in a way that reflects mainly two things; the income of the parents and their residential time with the child. The income of the parent is determined by taking the gross income and deducting certain qualifying expenses to come to an amount that is available for child support. Read More>

How 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. Read More>

Who Gets Child Support if We Have Similar Incomes?

In California, child support is calculated based off of a standard, state wide formula. This formula is mainly based off of the net income of the parents and the residential time distribution. Generally, whoever has more residential time with the child is the one who covers more costs, like food, clothing and incidentals. Read More>

How to Make Calculated Financial Moves During Divorce

It can be difficult to keep a handle on your finances during a divorce. A divorce can last anywhere from 90 days to well over a year and, during this time, your finances are not always necessarily your own to work with. Read More>

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