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 →
Posts Tagged ‘marital property’
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 →
Divorce In Later Years
Statistics show that the divorce rate for people over 50 years old has doubled in the last two decades. Even though they face the same issues as younger people do, they also face another unique one, such as retirement. Many older couples have saved enough to live comfortably when retired, but can they live comfortably… Continue reading →
Are you getting a divorce?
There is so much more involved in a divorce than just ending your marriage. Many divorces bring complex issues that will change the rest of your life. There are so many questions that need to be answered. A divorce needs careful preparation, even when it’s uncontested. Even the simplest divorce requires a court filing. Don’t… Continue reading →
Divorce papers
Being served divorce papers can be a traumatic experience, especially when you didn’t see it coming. If you are served papers, read them because all legal papers contain a deadline and need immediate action. If you decide to procrastinate or ignore the situation, you are asking for trouble. Failing to act or do as directed,… Continue reading →
Dividing up marital property
Getting a divorce means dividing the property acquired during your marriage. The first step is to determine what is marital property and what is non-marital property. Marital property is everything you and your spouse purchased during the existence of your marriage. It does not matter if the title is held individually or by both spouses… Continue reading →
Domestic partners
Are you and your domestic partner calling it quits? If you and your partner are registered as domestic partners in the State of California, you have certain rights and responsibilities. The end of your relationship will be dissolved in court – the same way as a typical marital divorce action is resolved. All issues normally… Continue reading →
Divorce – What are my options?
In California, either spouse can seek dissolution of the marriage. Regardless of who starts the proceedings, both spouses have an equal right to the marital property and custody of any minor children. Your first step is determining how you want to proceed. You have several options, including: · Litigation – In most cases, each spouse… Continue reading →
Property division and tax consequences
When proceeding with divorce, it is very important for both parties to pay close attention to the relationship between divorce and taxes. The method in which assets are divided can have significant tax consequences to each of the spouses. Tax consequences pertaining to the division of assets in the marital estate plus payments of spousal… Continue reading →
Dividing retirement accounts
California, being a community property state, calls for pension plans, 401k plans, IRAs, and other types of retirement accounts to be divided equally. Next to the family home, retirement plans are one of the biggest assets of the marriage. Retirement accounts are divided in one of two ways: 1. Qualified Domestic Relations Order 2. Divorce… Continue reading →
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