What Does Transmutation Mean in Property Division?
When a couple divorces, they must go about dividing the assets and debts accumulated over the course of the marriage. This can be one of the most difficult, time-consuming tasks in a divorce. California is a community property state meaning all marital property is equally owned by both spouses. However, this doesn’t mean everything has to be divided down the middle. Many assets and debts, like houses and student loans,…
Read MoreWhat Should I do Before Filing for Divorce?
Filing for a divorce is a big step. It may be a relief after dealing with a troubled relationship or you may feel it was an abrupt decision on your spouse’s part. Either way, the divorce process will be difficult. Prior to filing for divorce, you should familiarize yourself with the divorce process and what you might be facing in the near future. Do some online research, talk to divorced…
Read MoreHow to Keep Separate Property Separate
Under California’s community property law, all property that belongs to the marital community must be divided equally upon separation or divorce. Community property is considered property acquired by either spouse during the marriage, but prior to separation, and with community resources. Property acquired prior to marriage is considered separate property. Property acquired during the course of the marriage can still be separate property if it is acquired through a gift…
Read MoreWhat Can an Attorney do in Mediation?
Divorce mediation is a cheaper and more collaborative alternative to litigation or trial in the court process. When you and your spouse cannot agree, and this is generally the case in all divorces, mediation is a forum where conflict can be resolved with the help of a neutral third party. Mediation can be tailored to address specific issues, like custody or property division, or be general for all aspects of…
Read MoreWhat Happens in a Divorce Trial?
A divorce can be finalized through a few routes. Divorces can be executed out of court when both spouses agree on all the issues at hand. They can also work with a mediator or other neutral party to work out any remaining conflicts. If there is significant conflict, the divorce may need to enter into litigation where you and your spouse will bring the issues to court, with or without…
Read MoreWhat Should I Document During My Divorce Proceedings?
If you’ve decided to get a divorce and have talked with an attorney about it, you may be overwhelmed by the amount of paperwork and documentation that will be required of you just to end your marriage. On top of all the forms that need to be filed and financial information you have to provide, there may be some other things you should document during your divorce proceedings. Many things…
Read MoreHow to Make Calculated Financial Moves During Divorce
It can be difficult to keep a handle on your finances during a divorce. A divorce can last anywhere from 90 days to well over a year and, during this time, your finances are not always necessarily your own to work with. As a community property state, California mandates all marital property, also called community property, be divided equally in a divorce. So, during divorce proceedings, you cannot do whatever…
Read MoreKnowing Your Worth: What is Considered an Asset?
One of the most complicated parts of a divorce is dividing the net worth of the marital party, which requires taking stock of all assets and all debts. Debts are clearly defined; money or other consideration owed to another party. Debts can be loans, lines of credit, credit cards, personal debts, mortgages, taxes or support owed. Assets, on the other hand, can take many forms. An asset can be something…
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