Disposal of Assets Question

Posted by: Gerald Maggio

Top Orange County divorce lawyers; The Maggio Law Firm

Orange County divorce attorney Gerald Maggio often has to field the following question from female clients: My husband and I have a lot of assets we acquired during our marriage. How can I be sure that I get my fair share?

Orange County divorce attorney Gerald Maggio often must field the following two-part question from female clients who are in the process of divorcing: My husband and I have a lot of assets we acquired during our marriage. How can I be sure that I get my fair share?

It’s a simple question, but deceptively simple. The term “fair share” is relative. While almost everything that you and your spouse acquire during your marriage is marital property, everything from the family home to such non-tangible assets as retirement benefits, fairness is in the eyes of the beholder.

“No matter where you live in the United States, you will not automatically receive half your marital assets in a divorce,” says Orange County divorce attorney Gerald Maggio. “Not even in California.”

California is a community property state. “In California, division of property begins at 50-50,” Maggio says. “But there are some important things you should know about community property.”

All assets are considered to be community property, but so are all debts. “Both are generally split right down the middle,” Maggio says, adding that it can also get tricky when spouses become evasive. “Spouses who are aware of the community property provisions may hide debt or increase debt because they know that their estranged spouse is equally responsible.”

If you don’t solely live in California, but have residency in two states (for instance, one that is community property and one that is equitable distribution), your divorce could become a daymare. “Here you might want to ask your attorney which state would be more beneficial for you to file in,” Maggio says. “As a general rule, the higher wage owner will come out better in an equitable distribution state, while a stay-at-home spouse would benefit from the community property state.”

Besides California, only eight other states use the divorce standard of community property for distribution of marital assets. These are Arizona, Idaho, Louisiana, New Mexico, Nevada, Texas, and Washington. The remaining 41 states do not have community property laws as their standard.

To learn more about the Maggio Law Firm visit http://www.maggiolawfirm.com/.

The Maggio Law Firm Offers Advice on Preparing for a Deposition in a California Divorce

Posted by: Gerald Maggio

Top Orange County divorce lawyers; The Maggio Law FirmBeing asked to sit for a deposition in a divorce may seem a bit intimidating at first. Deponents will find themselves a lot more relaxed and in control if they know what to expect during the process.

At a divorce deposition, the deponent will be giving testimony under oath. He or she will be asked detailed questions about the case and answers will be recorded by a court reporter. The record of this process will be used to form a deposition transcript that will be sent to attorneys on both sides. In addition, a copy will be sent to the court for the judge to review at time of hearing or trial.

“It is important to remember that portions of depositions may be read aloud in court, especially if the opposing attorney is trying to demonstrate that there are discrepancies between your deposition and your testimony in court. Due to this, you’ll need to make sure you answer questions carefully and honestly,” noted Maggio.

Before being deposed, a deponent needs to review the case with his or her divorce attorney. This includes a careful review of any complaint, petition or affidavit that has been submitted to the court as part of the case. This also includes the original pleadings and any affidavits submitted as part of any motion. In addition, you will want to review any responses that the party has made as part of discovery. In a divorce proceeding, a party may have answered interrogatory questions by providing notarized responses to the opposing attorney. Finally, the deponent will want to review any financial documents such as paystubs, tax returns, or lists of monthly expenses that have been provided to the court or to the opposing counsel. The opposing attorney will generally question each item that appears on a party’s list of monthly expenses to determine if the claimed expenses are legitimate expenses and to understand how these expenses were determined.

“The deposition process does not need to be difficult for deponents in divorce cases. A careful review of all documentation involved in the case and a discussion with your divorce attorney can make the process go much more smoothly. If a deponent is familiar with the facts of the case, he or she will be able to answer questions without difficulty,” stated Maggio.

During a divorce deposition, the deponent has three main responsibilities: to listen carefully, to understand what is being asked, and to answer each question honestly and carefully. Deponents will answer the questions a lot more easily and confidently if they don’t succumb to pressure and take their time with each question.

“Remember that while you must tell the truth during a deposition, you will not be expected to have the answer to every question that is asked of you. In addition, you will not be expected to know all the facts of the case. You’ll only be expected to answer each question to the best of your ability,” noted Maggio.

To learn more about the Maggio Law Firm visit http://www.maggiolawfirm.com/.

 
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