How Can Spouses Divide Property in a Divorce?
Divorce can be difficult for anyone. When you’re a celebrity and are worth millions of dollars, navigating a split can be even more complicated. Seven months after initially filing for divorce, actress Julie Bowen and her husband seem to have agreed on how their assets will be divided. According to reports, the couple will split the 25.3 million dollar estate right down the middle. Bowen will receive $13 million and…
Read MoreDo I Have to Sell My Home in a California Divorce?
Dividing marital property can be one of the most challenging aspects of the divorce process. Figuring out what to do with the family home is perhaps the biggest challenge of all. You may find that you want to keep the family home, but your spouse would rather sell it. Do you have to sell the family home if you’re getting a divorce in California? Not necessarily. While selling may be…
Read MorePreparing to Divide Your Marital Assets
When you get a divorce you will be required to make a lot of decisions. You’ll have to decide on a custody arrangement for your children. You’ll have to determine if you or your spouse will receive alimony after the split. Perhaps the most difficult decisions you will have to make will concern the division and assignment of your marital property. When you get divorced you and your spouse will…
Read MoreGeorgina Chapman Still Silent About Future Divorce From Harvey Weinstein
It has been more than two months since accusations of sexual assault and harassment against Harvey Weinstein began to surface. Since the initial accuser stepped forward, nearly 100 women, including some of the most famous actresses in the country, have accused the Hollywood producer of some kind of sexual misconduct. Some of these allegations involve incidents of minor harassment, while others paint a darker picture involving forcible rape. Georgina Chapman,…
Read MoreTransmutation Agreements in California
When you divorce in California you may wonder what happens to your property. Who gets the house? What about the car? Can you keep your entire baseball card collection that may be worth hundreds of dollars, or will you have to split that with your soon-to-be ex-spouse? The answer is that it depends. Status of Marital Property in California California is what is called a community property state. This means…
Read MoreDividing Employee Benefits in Divorce
Most employers offer options for employees to participate in employee benefit programs as a way to reduce the amount(s) they pay in salaries each year. Many employee benefit plans offer great tax advantages for both employers and employees, so they tend to be incredibly popular. If you are considering a divorce in California you should understand how your employee benefit and retirement plans will be affected. Retirement Benefits Considered Community…
Read MoreCan I Buy My Teen a Car Without My Spouse’s Approval?
During a divorce, you and your spouse will be restricted in what financial actions you can take by a set of restraining orders. These restraining orders are automatic and temporary, included in the summons and effective with the filing and service of the initial divorce papers. Generally, you will be restricted from making any significant purchases, transferring ownership of any community property, taking out debt, lending money or changing the…
Read MoreI Have Season Tickets; Are These Subject to Division?
California’s community property rule governs the division of debts and property in divorce. All property acquired during the course of the marriage is subject to 50/50 division upon divorce. Property is defined broadly; anything that holds value is property. Given the value of a set of season tickets, be it for a sports team or the opera, they are considered valuable property. How season tickets could be divided will depend…
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