CATEGORIES

Division of Property

Categories

California Divorce: Is Property & Debt Always Divided 50/50?

California is what is known as a community property state, a state in which everything you and your spouse earned or bought during your marriage belongs to both of you in equal measure. But that does not mean that you have to divide everything 50/50. Are Assets in Divorce Always Split 50/50 in the Community Property States? Everything that you and your spouse contributed to the marriage during the time you were married (with only a few exceptions) must be divided equitably during your divorce. According to California state law, the way you divide assets and debts must be fair…

READ MORE

Could You Receive Social Security Benefits Based On Your Ex’s Work History?

If you are divorced, it’s possible that your ex may receive benefits based on your work history. This can even be the case if you are remarried. If you aren’t sure how this is possible or if you have never considered the situation a possibility, you definitely need to learn more about it.   An Ex Can Receive Social Security Benefits Based On Your Work Record If: Your marriage was 10+ years, Your ex is ummarried, Your ex is 62 or older, The benefit your ex is entitled to receive based on their own work history is less than the…

READ MORE

Dividing the Assets: Is a Business an Income or an Asset?

Are you a business owner facing divorce? Are you the spouse of a business owner facing divorce? Either way, you probably have questions about how the business is handled during the division of assets. Is the business divided? How is it divided? Is the spouse of a business owner entitled to half of the business in divorce? First Things First: The Business Must be Evaluated A business is an asset. Like any other asset in a marriage (house, car, etc.) determining how it will be divided is based on characterization and valuation. Characterization determines what type of asset the business…

READ MORE

How to Recognize a Rigged Business Valuation During Child Support Calculations

If you or a soon-to-be ex-spouse own a business, it may need to be valued for the purposes of child support/spousal support calculations and asset distribution. Most credentialed valuation analysts are subject to both ethical and professional standards, but there are the rare few who will engage in subterfuge, attempting to rig the business valuation higher or lower to intentionally manipulate the result in favor of one spouse. Do you know how to spot a rigged business valuation? Watch Out for a Rigged Business Valuation: What To Look For Income: Rigged business valuations may report income too high or too…

READ MORE

Is Foreign-Held Property Subject To Division In California?

One of the biggest headaches of divorce is property and asset division. Although California has strict guidelines for marital and separate property, it still becomes confusing as to which property belongs where. A clear distinction is that property that was purchased during marriage becomes marital property and property which belongs to an individual becomes separate property. For foreign held property, it becomes a matter of state laws and the country or state where the property is located. California is a community property state and property and assets are divided equally between both parties. However, it may not always work for…

READ MORE

How to avoid unequal distribution of property during a California divorce

Probably one of the most contentious tasks for any couple to agree on would be the division and distribution of property and assets during a divorce. Making through the assets separation in mutual agreement without the need for additional intervention is certainly a welcome situation for both spouses. If in case you’re unable to settle the issue of property distribution with your spouse, a California family law judge will have to do it for you. To begin with property distribution in a divorce agreement across the United States is conducted via state law. Asset division follows either community property or…

READ MORE

Signs That Your Spouse May Be Hiding Assets

The assets owned by you typically come under various heads such as a business, your primary residence or primary home, a professional practice, cash value of your life insurance coverage, pension funds, retirement funds, shares, savings, bank accounts and other property investments. Rather than depending on the integrity of your spouse or only relying on the fair conduct of the court, it is a sensible approach to watch out for these strategies and signs to know whether your spouse is trying to hide marital assets are not. Check out the following key aims for your spouse to hide assets during…

READ MORE

What Should You Do With Your House Post-Divorce?

Are you and your spouse contemplating to divorce one another? The most important question for a majority of couples who are about to divorce is what they should do with their house post-divorce. In fact, the family house is typically the most important asset to split. Plus, it is not simply a property for such couples. They may have formed a good rapport with the neighborhood, children are contented in the school in that locality and last, but not the least, the couple could have invested a lot of love, energy and time to create a home out of a…

READ MORE

Status of Student Loan Debt After a California Divorce

Marriages come with many responsibilities and one of them is supporting a spouse with his/her student loans. Paying back the educational loan can be tough for some and becomes even tougher once a divorce takes place. Current statistics show that college students who take up educational loans end up with huge debts which become hard to pay. In a marriage, the debt can be cleared by both spouse but it’s not as easy as it sounds. It can get complicated and after a divorce, students loans can look like a huge burden. Finances are an important factor when it comes…

READ MORE

What Happens To The Company You Run With Your Spouse After Divorce?

Many married people did not even think in their wildest dreams that would get divorced one day. This is especially true when the spouses work with one another. Irrespective of what decision you arrive at, these are some of the important things you need to sort out in your business while your divorce is underway. You need to be clear about creating divisions between emotional, financial and legal issues Any divorce is not just a legal split between married couples. When both of you are working together, you should be serious about sorting out ways of dealing with your business,…

READ MORE
lawyer-com-premium-full-2
top-10-full
Ten-Best-full-2
Top Orange County Family Law Attorney
Top Orange County Divorce Lawyer
Best Orange County Family Law Attorney
Top Orange County Divorce Lawyer
top-100-full
Schedule a consultation