Articles Tagged with separate property

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Divorce Mediation Vs. Litigation

Divorce Mediation Vs. Litigation

The divorce process is never an easy experience, even for couples who have reached completely mutual decisions to divorce without any second thoughts. The formal steps required to end a marriage in the California family court system are more stressful and time-consuming than many people realize, and it’s vital to approach this situation armed with valuable information that will help you make informed decisions about your options. One of the most vital considerations you must make is how you should go about handling your divorce. You don’t necessarily need to prepare for a difficult court battle; alternative dispute resolution can potentially offer a more streamlined, less stressful, and ultimately less expensive divorce.

Alternative dispute resolution allows a divorcing couple to avoid the typical stress, expense, and time commitment divorce usually entails. Divorce mediation has quickly become the most popular form of alternative dispute resolution for divorcing couples throughout California, and it’s essential to consider the potential benefits this process may hold for you in your situation. It’s also necessary to understand what the divorce litigation process involves and how mediation can help you avoid much of the litigation divorce usually entails.

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Everything to Know About Premarital Agreements

Everything to Know About Premarital Agreements

Marriage is one of the most important decisions an individual will ever make. There are many diverse factors that go into choosing a partner, and they can differ widely depending on the individual. What does not differ, however, is the human drive to protect ourselves in the event that these major decisions fail to work out. That’s why many individuals opt to create a prenuptial agreement before marriage. In doing so, they are protecting themselves from future financial problems.

Prenuptial agreements, also known as prenups or premarital agreements, can be especially beneficial for couples who bring significant assets into the marriage. Prenups are also popular for individuals who have experienced divorce before. However, a prenuptial agreement is not the right decision for everyone. To accurately assess if a prenup is right for you, it’s essential to understand the basics of what a prenuptial agreement entails.

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The Legal Process for the Division of Marital Property: Identification, Characterization, and Valuation

The Legal Process for the Division of Marital Property: Identification, Characterization, and Valuation

The division of property in a divorce case can be a very contentious issue—and for good reason. People feel pride and ownership in the things they have worked hard to attain over the course of a marriage. It’s only natural that most prefer to keep the assets they have earned, or at least take the time to decide how to divide them fairly.

However, it is important to recognize that California is a community property state, which means that all income earned, debt acquired, and assets purchased during the marriage are considered “community property” owned by the couple, not the individual. Because of this distinction, it is important for both spouses to understand the legal process of property division.

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Can You Sell Your House During a Divorce?

Can-You-Sell-Your-House-During-a-Divorce

When a couple decides to divorce in California, their house is often the most important asset to distribute in the settlement. Spouses often wonder if they can stay in the house, whether they can retain ownership, or if they should sell. It is crucial to develop an understanding of your options when you are in this situation, and a trusted divorce attorney is the best tool you can use to understand your alternatives and protect your interests.

If you and your spouse bought your home as a married couple, it is considered “community property” in California. In the case of a divorce, this means that the home’s value will be divided 50/50 between the spouses. Your options for keeping or selling the home are dependent upon your ability to reach an agreement that satisfies both you and your spouse. This could mean selling the house and splitting any profit evenly, but many couples reach an agreement in which one party purchases the other’s share of the home.

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It’s no secret that divorces can get expensive. The divorce between Dodgers owners Frank and Jamie McCourt exceeded $20,000,000 in fees! There are three fairly simple steps that every single person can take before and during marriage to make any potential divorce less expensive.

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Janus Friis, the co-founder of Skype, gave his Danish pop star girlfriend Aura Dione (real name Maria Louise Joenson) a $471,942 engagement ring when he popped the question in July of 2013. Among the platinum ring’s many diamonds are a 1.76 carat center diamond, two pear-shaped blue diamonds weighing in at .91 carats, and 1.75 more carats of blue and pink diamonds. Once they were engaged, he also gave her an apartment in Copenhagen and cash gifts. Unfortunately, Friis later found out that his pop star love had been sleeping around with other men and called off the engagement.

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