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high asset divorce Archives

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.

Factors that may be considered in an award of spousal support

Spousal support is an obligation set forth by statute to support a spouse.  A court can order that temporary spousal be paid by one spouse to the other following separation and continuing until further order, agreement or judgment.  The duty of support may continue following the termination of the marriage. There are a number of statutory factors that are considered when determining when considering the continuing duty of support as well as the amount and duration of support.  Those factors include the extent to which the earning capacity of each party is sufficient to maintain the standard of living established during the marriage.  The statutes recognize that a party's earning capacity may have been affected circumstances such as periods of unemployment due to domestic responsibilities such as child-rearing.  

Work with attorneys who understand different divorce options

Not that long ago, divorces in California and throughout the rest of the nation took on a cookie cutter format. A person would either, on their own or with their spouse, file for divorce and begin the litigious process of untangling their life from that of their partner. With the help of their lawyers, the partners to the divorce would haggle over their property, their kids and their money until they had created agreements or accepted judicial intervention through orders to settle the important matters of their post-divorce lives.

Asset valuation is an important component of property division

An asset is a piece of property that is owned by someone. It can be real property, such as a parcel of land or a residential structure, or a piece of personal property, such as a work of art or a piece of fine jewelry. Some assets are intangible, like investment accounts, while others are controlled under the possession of their owners.

Tips for dividing real estate in a California divorce

Let's say that you and your spouse have decided to divorce. One of the significant steps that you will have to take is dividing your property between the two of you. This process can be simple or complex, depending on each individual case. But there is one type of property that can raise complications much more frequently than other assets: Real estate.

Property rights in a community property state

California is a community property state. As such, all community assets and all community debts are divided equally. California is also referred to as a no-fault state. This means that all that is required to get a divorce is a declaration that irreconcilable differences have arisen which have led to the irremediable breakdown of the marriage. Who did what to cause the breakdown has nothing to do with how the property is divided.

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