Many family legal issues can come up during a divorce process. For example, if Kobe Bryant’s California divorce proceedings were to resume, it could cost the basketball player an estimated $1.36 million a month.
There might be many other family law issues presented by the potential high-asset divorce if it were to proceed as well, including child and spousal support, which would account for the likely $1.36 million. The estimation is based on a review of Bryant’s earnings as listed in Forbes magazine and based on the assumption that he would receive half-time custody of the couple’s children.
Because no prenuptial agreement was signed between the couple when they married in 2001, Bryant’s wife would receive an estimated $1 million a month in spousal support in addition to $365,000 in monthly child support under California law. Under state law, all proceeds Bryant earned from basketball or endorsements from the date of the marriage in 2001 to the date of separation would be considered community property, which entitles his wife to half.
In community property states like California, each spouse is entitled to one half of the marital property, regardless if one spouse worked and the other remained home to raise children or to care for the household. To meet the definition of marital property, the property must have been accumulated during the marriage.
Property that will not be subject to the division process includes non-marital property. To meet the definition of non-marital property, the property usually would have been brought into the marriage by one of the spouses, or was a received as a gift or inheritance.
When making a property division decision and ensuring that an equitable distribution is reached, the court will add up all of the marital property, which will then be subject to an equal distribution between the spouses. The divorcing couple may also make the decision to reach a property division agreement themselves, if they are able. The spouse that has primary custody of the children will usually remain in the family home. Other marital property will then typically be awarded to the other spouse as an offset to the award of the home.
There are many family law issues that may arise and be subject to dispute during a divorce proceeding. For anyone contemplating a divorce, it is important to understand what the process may look like.
We invite you to call our law firm today at 714-731-8600 to arrange a free consultation with our lawyer to discuss your family law issue. Or you may send us an e-mail. Se habla español. Telephones are answered 24 hours a day.
