You and your spouse are moving toward divorce, and you know you’ll have to divide your financial assets during property division. You’re worried this will give your spouse a chance to take a portion of the assets you consider yours, such as the money you’ve earned....
Community Property Division
Should you hire a forensic accountant in your divorce?
The saying goes, “Money is the root of all evil.” That may or may not be true, but it can make people do unethical things. You may not want to believe that your ex-spouse is hiding money, but the thought of leaving you with less and them with more may be too tempting...
What happens to a family business if you get divorced?
It’s often true that business partners are also marital partners. A couple may get married and then decide to go into the restaurant business together, for example. One of them works as a chef while the other handles day-to-day business operations. This arrangement...
Why personal property is important during a divorce
People preparing for divorce often face so many challenges that they focus on one or two main issues. Often, those concerned about property division matters prioritize family businesses, retirement savings or real estate. They might overlook other resources that could...
How marital infidelity can affect property division during divorce
The division of marital property and debts is often a key consideration in a California divorce. Married couples may have hundreds of thousands of dollars or more in shared property that they have to share. As a community property state, California generally requires...
When does separate property become community property?
California is a community property state, which means that items accumulated during marriage are generally considered to be joint assets. Meanwhile, anything that you acquired before the marriage is typically classified as separate property. However, it is possible...
Why you may need a forensic accountant for a high-asset divorce
Divorce proceedings can become quite challenging in California, where the cost of living is high. When significant assets, investments and complex financial structures are at stake, the role of a forensic accountant may become crucial in helping ensure a fair and...
Do pensions get divided up in a California divorce?
People in Carlsbad who worked in certain fields or served in the military have a pension waiting for them when they retire. A pension can help you afford retirement, but it also could become an issue if you get divorced and your spouse wants a share of it. California...
Digital assets in the property division process
As we move our lives more-and-more online, our divorces become more and more digital as well. This means that the property division process must deal with our digital assets too. For some, this could mean just splitting up the family Facebook and Instagram pages. For...
Divorcing: What happens to the business?
California is a community property state, and so assets acquired and debts incurred during the marriage are jointly owned by the spouses. Technically, this means they could split everything 50/50 in a divorce. That, of course, is the starting point of the discussion,...