California's community property law holds that all assets and debts acquired by either spouse during their marriage is owned jointly by both spouses. This means that if the marriage ends in divorce, each spouse has an equal claim to everything in the community...
Divorce
Tips for helping your children deal with your divorce
Divorce can be tough on you, but it can be even more difficult for your children. And seeing them struggle with the pain and anger they’ll experience can be crushing. Fortunately, you don’t have to sit back and watch your children suffer. Instead, you can implement...
Division of retirement assets in California divorces
Divorce is one of the most challenging times in any person's life. It often takes an enormous toll on the parties, and it is a difficult experience in every way, including financially. In addition to the emotional difficulties the couple is going through, many other...
Do I need a forensic accountant in my high-asset divorce?
If you and your soon-to-be spouse have been together for a long time, you may not even realize how many assets you have and how valuable they are. Most likely, you are not alone when it comes to this particular issue. Many people don't have a clear understanding of...
Not all debt incurred while married is marital debt in California
In California, debts incurred by either spouse while married are the responsibility of both spouses, even if only one spouse took them out. These are referred to as community debts, as opposed to separate debts that remain the responsibility of the debtor-spouse only....
Common denominators in property division
California has plenty of high-profile family law cases due to the number of rich and famous people who live in the state. And, when there's a lot of property at stake, divorces can get complicated. Still, while the details can be very different from one divorce to the...
Important points about asset and liability disclosures in divorce
Finances are a major issue in many California divorces, whether it is a high-asset case or one of more modest means. For people who have significant assets; however, there is likely to be more at stake. Often, people are unaware of precisely what their spouse owns....
How should you handle the family home in your divorce?
Since California is a community property state, marital assets are supposed to be divided equally unless the parties agree to some other sort of division. But complications can arise when you’re dealing with major assets that are difficult to split, such as a business...
Can you seek spousal support as a stay-at-home dad?
The financial ramifications of divorce can be significant. They can dictate which assets you’ll have to work with once your marriage dissolution is complete, and they can specify what kind of support, if any, you’ll receive when all is said and done. But if you’ve...
Why business valuation matters in your divorce
A high-asset divorce can be a costly financial transaction. Since California is a community property state, you’ll receive an equal share of the marital estate, which should alleviate some of your financial burdens post-divorce. However, your property division...