When a couple says, “I do”, they think about a long future together – not divorce. Divorce is probably one of the most stressful and painful things that an individual could go through in his or her lifetime. It can be a relatively easy process where both spouses desire an amicable party, or it can… Continue reading →
Posts Tagged ‘Community Property’
Divorce and Property Division
You and your spouse finally agree that divorce is the best option for the two of you. Now, you have to come to an agreement on dividing the property you have accumulated throughout the years. You wonder, “Can I stay in the house?” If you are considering asking for the house, think about whether you… Continue reading →
Legal Separation
In many cases when a marriage is not working, the couple decides to get a legal separation and wait to file for divorce. Sometimes they can work out their problems and get back together. A legal separation does not terminate the marital status; however, the parties remain married in name only. When a marriage is… Continue reading →
Preliminary Financial DIscloser
The California divorce process requires the couple to prepare and exchange preliminary financial disclosures regarding incomes, expenses, property (both marital and separate) and all debts and obligations with each other. Without them, the judge will not grant the divorce. Not filling them out or filling them out incorrectly can cause problems for both parties. A… Continue reading →
Best Buy CEO Divorce Issues
Hubert Joly, Best Buy CEO had to sell 451,153 shares of his company’s stock – for a total of $16.7 million. Why? You ask. Some assets are easy to divide in a divorce, such as selling an automobile or even a home. Dividing stock options can present a unique set of challenges and can be… Continue reading →
Do I need a postnuptial agreement?
A postnuptial agreement is a written contract signed and executed after the couple gets married detailing how to handle family matters if the marriage ends in divorce. Having a postnuptial agreement is more common than you think. Like the contents of a prenuptial agreement, it can include provisions for property division, support, etc. It is… Continue reading →
How are property and debt divided in a divorce?
It is common for a divorcing couple to decide about dividing their property and debts themselves (with or without the help of a neutral third party like a mediator), rather than leaving it to the judge. However, if a couple cannot agree, they can submit their property dispute to the court, which will use state… Continue reading →
Common Property & Divorce
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,… Continue reading →
Divorce and splitting up property
Divorce can be a difficult time for all involved. Coming in behind child custody and alimony issues is deciding on who gets what from the marriage. California is a community property state, which means that all community property will be divided equally in a divorce. Community property includes: · Real estate · Vehicles – cars,… Continue reading →
Divorce and personal injury settlements
Have you or your spouse been involved in an automobile accident? Did one of you receive a settlement from that accident? What happens to this settlement in a divorce case? Is the money community or personal property? In California, all property, including any monetary settlements, acquired during the marriage is considered community property. However, there… Continue reading →
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