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Divorce & Financial Disclosures

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How Your Divorce Attorney Can Discover Hidden Assets

One of the main goals of a divorce is to provide a fair division of property, assets, and debts between the divorcing parties. Both parties must be completely aware of all assets, debts, and property. Having all the necessary information can be very difficult when one party is not cooperating. Sometimes the situation can even escalate to one spouse attempting to hide assets. Trying to find assets that your spouse is hiding or failing to disclose can be a complicated task, but a skilled divorce attorney can help. Discovering Hidden Assets: 1.    Analyzing the Case: Divorce attorneys attempting to find…

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Elder Divorce: How a Reverse Mortgage Works During Divorce

In many divorce cases, the first question asked is what will happen to the family home and who will live there. This concern is even more prevalent in cases of elder divorce. When splitting up assets, one of the most challenging decisions is what a couple should do about their house. Many younger divorcing couples find themselves facing the prospect of going from a dual income to a single income, which creates unavoidable tension. One spouse may wish to continue living in the home, but the other spouse may not qualify to purchase another residence unless the current house is…

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Can a California Divorce Record be Sealed?

Court proceedings are typically public record (including divorce proceedings). Unless divorce records are sealed, any legal filings in the proceeding will be public record, which means the public can easily access them. Exceptions to the general rule that leaves divorce records open to the public include court records that contain identifying information for children or victims or information about sexual abuse. The state of California also seals paternity case records. If you are involved in a California divorce and your case does not fall into any of the above categories, the records will be public unless you request that they…

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What Happens If You Lie on an Income and Expense Declaration?

Every couple going through a divorce is required to file an Income and Expense Declaration (Form FL-150). This is a request for spousal support (alimony), child support or attorney’s fees and accuracy in the disclosure is required by law. During divorce emotions and stress levels are usually both at fairly high levels. Sometimes one or both parties may make decisions that they would normally not consider. When a party going through divorce decides to lie about their income and expenses it can become a huge problem. If you believe that your spouse is not telling the truth about their income…

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Protecting Your Privacy During Divorce

Going through a divorce is hard for a variety of reasons. One that many don’t consider until they’re in the midst of a difficult situation is that you can have very little control over your privacy. News of a divorce tends to spread quickly and those going through divorce frequently find themselves on the uncomfortable side of difficult, intrusive questions about their personal life. You do have the right to keep your private life private and if this is a priority for you, it’s best to actively seek privacy during the divorce process. If you are going through a divorce,…

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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…

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What To Know About Business Valuations In California Divorces

Professional business valuations is an expensive task in any marital dissolution. The spouse who manages the business quickly realizes that techniques used to value the practice have no relation with the practice’s fair market value. The spouse can then in all fairness insist that no willing buyer can be found. There can also be concerns regarding “double dipping”. This comes as the same earnings used to calculate a value in such a practice can also be utilized for calculating the support. In case the practice has a value of marital efforts, it must also be divided. In California, a number…

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How To Find Concealed Assets and Money During Your Divorce

As soon as the divorce proceedings start, it has been observed that many people try their best to hold back what according to them is their own property or money. There are some individuals who even possess secret bank accounts as well as other financial activities when they were married. If you feel your estranged spouse may have done the same and you desire to get a fair settlement, you need to expose such hidden accounts When you are not ignorant about the resources and techniques used by financial and accounts professionals, you will not become a victim of your…

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Documents Your Divorce Lawyer Will Need In The Divorce

Your divorce attorney will need certain crucial financial documents before the divorce proceedings start and during such proceedings. Some such documents include income related documents and tax returns.  Other documents that your lawyer will need are property valuations, marital debts, documentation of assets, and related documents. While you are getting your documents, your attorney may ask for digital or hard copies of them. However, you should make it a point to keep copies of all those documents you handed over to your divorce attorney. If you have handed them over the digital copies, save another copy either online using a…

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What are Preliminary Financial Disclosures in California Divorces?

Preliminary financial disclosures are mandatory requirement to complete for getting a California divorce. Preparation and exchange of financial disclosures is one of the initial steps in any divorce in California. If the parties fail to fulfill this step then the judge will not grant the divorce. Parties that withhold financial information willfully or are negligent while stating them might face devastating results. Complete transparency and disclosure during the preparation of the preliminary financial disclosures cannot be understated. The reason why preliminary financial disclosure is so important California happens to be a community property state. This means, whatever is acquired during…

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