Divorce can have a devastating effect on many aspects of the parties’ lives. In some cases, the parties may not even realize the full effect of the divorce for years to come. For example, in the heat of litigation many spouses may not consider how divorce will impact their social…
Along with the emotional challenges of a divorce, financial challenges often also accompany a divorce proceeding. In relation to the many financial challenges, one question that often comes to the mind of our San Diego clients is: How does divorce affect my credit? The fact that you are now divorced…
A divorce almost always results in a change in housing for one or both spouses. As if qualifying for a new mortgage isn’t hard enough, unfortunately, getting a mortgage after a divorce can be further complicated by several factors related to the dissolution. During a divorce proceeding, family lawyers frequently…
One of the biggest battles in many contested divorce cases is the issue of spousal support (also commonly referred to as alimony) and analysis of California spousal support factors. The most prominent factors a court typically considers when making a spousal support award are the supported spouse’s needs and the…
Former NFL player and Super Bowl champ, Jeremy Shockey, and Daniela Cortazar enjoyed a brief eight months of nuptial bliss before Shockey filed for divorce in January 2013. TMZ now reports that Shockey “is playing dumb with his finances according to his soon-to-be ex-wife.” Cortazar claims that Shockey’s net worth…
In San Diego Family Courts, Judges take the issue of breach of spousal fiduciary duty very seriously. Harsh punishments are available in family court for nondisclosure of assets, failure to provide truthful information regarding income and assets and other misconduct. In April 2013, the California Court of Appeal ruled in…
Considerations for Your Second Marriage and New Blended Family The United States, especially California, has a bad reputation for its “high” divorce rate. However, along with the high rate of divorce is also a high rate of remarriage. Considering the amount of marriages and remarriages, it is not surprising to…
Recent winner of the $338 million Powerball jackpot, Pedro Quezada, has more money now then he probably knows what to do with. However, soon after coming forward as the winner of the fourth-largest Powerball jackpot in history, authorities revealed that this new multi-millionaire was wanted for outstanding child support payments…
Recently, Patricia Cohen’s lawsuit against her former husband, billionaire Steve Cohen, was given the green light by a New York court. Ms. Cohen and her divorce attorney filed the lawsuit accusing Mr. Cohen of hiding assets during their 1990 divorce. In 2011, Ms. Cohen’s lawsuit had been dismissed because the…
With Tax Day (April 15th) near approaching, both CPAs and divorce attorneys alike are likely receiving an influx phone calls from clients regarding the tax implications of spousal support, often referred to as alimony. Generally, spousal support is considered to be tax-deductible to the spouse who is paying the support.…