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high asset divorce Archives

How are second homes and vacation properties treated in divorce?

The Bay Area real estate market is very tight. Property here is notoriously expensive and very difficult to find. A couple might search for months or years to find the right second home or vacation getaway in the area. Even after locating a property, it’s still possible to spend tens – or even hundreds – of thousands of dollars remodeling and refurbishing it to make it your own.

Younger couples getting prenups at a higher rate

Prenuptial agreements – perhaps better known as “prenups” – are becoming more common amongst today’s couples. There are several reasons why this generation of engaged couples (including the millennials and Gen Xers) are seeking prenups at a higher rate than past generations.

When does the new tax law begin to affect spousal support?

It removes the federal alimony tax deduction on spousal support agreements and orders finalized next year. What does this mean for those contemplating divorce or in the middle of the process? It could be an added incentive to finish the process before the end of the year.

Protecting an inheritance during a divorce

At some point practically everyone dreams of receiving a financial windfall. It may come in the form of a lottery win or the sale of an unexpectedly valuable item. Others may dream that somewhere in the world they have a long-lost relative who has identified them as the individual who should inherit their substantial end-of-life estate.

When after my divorce can I stop paying my ex spousal support?

Most spousal support agreements and orders contain in them provisions that address how and when payments from one party to the other may be terminated. It is for this reason that California residents should first start with their own divorce documents to find out how their particular spousal support cases may be treated when it comes to ending a payment obligation.

When do I need a premarital (or prenuptial) agreement?

Premarital or prenuptial agreements are contracts that individuals can make prior to getting married, which are intended to define the financial relationship between the spouses both during the marriage, and when the marriage ends, whether by death or by divorce.  If a couple doesn't have a premarital agreement, the terms of their financial "partnership" will be defined by the laws of the state or country where they live.  Different states have different rules about what happens with respect to divison of property, and financial support, in the event the marriage ends by death or divorce.  Without an agreement,  the rules can change just by moving to a different state or country. 

Dividing cryptocurrency pursuant to a California divorce

Technology is forcing Americans to expand their vocabularies and consider advancements that once may have seemed fanciful to them. One example of a relatively new tech-driven concept is cryptocurrency, better known by its more recognizable brand name: bitcoin. Cryptocurrencies like bitcoin are used online by consumers to transact, make purchases and complete deals exclusively through the Internet.

Tax change will impact alimony payers, recipients

A major tax reform bill was passed by the federal government that will bring many new changes to the rules Americans must follow to stay current on their income reporting. One of those changes applies to payers and recipients of alimony (called "spousal support" in California). While Californians who have spousal support agreements and orders in place prior to the end of 2018 will not be subject to these changes, anyone whose divorce is finalized after December 31, 2018, will be required to follow the new system.

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