Can We Divide our Assets However We Want?
During a divorce, much of what happens and decided upon is up to you, as long as you follow standard California family laws and your spouse is in agreement with you. For example, you can divide up your debts and assets according to your needs, as long as your spouse agrees to the division and the total net value of your marriage is equally distributed. Keep in mind, however, that…
Read MoreHow 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. For example, if your spouse is ordered to pay temporary spousal support during…
Read MoreWhat Happens to Student Loans in a Divorce?
When you are getting a divorce, you are forced to take stock of your life and all your debts and assets. Having an education is an undeniable asset in this economy but one that comes at a price. While a degree certainly adds to your earning power and potential, more often than not it will come with a burden of student loan debt that you cannot get away from. You…
Read MoreWhat is Divorce Settlement?
It may come to no surprise to you that divorces can sometimes end up as long, expensive legal battles in court. Very few couples will actually agree on everything in a divorce and so most will have to work through issues and come to a compromise on many issues. There a few ways you can do this. You can work with a mediator or a collaborative law facilitator to come…
Read MoreWho Gets the Vehicles in a Divorce?
While you are dividing your community property in the divorce, you may have some questions when it comes to dividing the vehicles. Cars are a little different than other forms of property. They have value, like a house or a piece of jewelry. Part of what makes them unique is that they are often partly or fully financed. They also can be utilitarian, meaning they have a practical and necessary…
Read MoreWhat Does Transmutation Mean in Property Division?
When a couple divorces, they must go about dividing the assets and debts accumulated over the course of the marriage. This can be one of the most difficult, time-consuming tasks in a divorce. California is a community property state meaning all marital property is equally owned by both spouses. However, this doesn’t mean everything has to be divided down the middle. Many assets and debts, like houses and student loans,…
Read MoreHow 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…
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