Complex Asset Division
Understanding California Community Property laws.
The laws in the State of California express that any real or personal property acquired during a valid marriage, except for an inheritance or gift, should be considered community property. This is according to California Family Code §760 which explains the laws referring to community property and §771, which refers to separate property. In the…
Read MoreBusiness asset division in divorce proceedings
The valuation and distribution of marital property can be a frustrating and contentious issue for both parties. The process can become even more difficult when the assets include an interest in a business, because the business interest is often the most valuable part of the divorcing couple’s community property. There are many types of privately-held businesses,…
Read MoreDivorce like a Celebrity: Quickly and discretely.
Some celebrities manage to keep their divorces outside the courts. Sure, they have to file paperwork to legalize their divorce, but we don’t hear about any courtroom drama. Two celebrities who did that are 28 year old pop singer Katy Perry and her husband of 18 months, 36 year old British comedian and actor, Russell…
Read MoreCan Collaborative Law Save Danny DeVito and Rhea Perlman from a real-life ‘War of the Roses’? It Could Be the Answer for this High Net Worth Couple.
Comedic actors Danny DeVito and Rhea Perlman separate, now contenders for a collaborative divorce. The couple recently announced their split after more than 40 years together. You may recall that DeVito once co-starred in the hit film, The War of the Roses, based on a contemptuous divorce. Hopefully, his real life won’t imitate his ‘reel’…
Read MoreDivorce property settlement that allows spouse to keep the house while you remain on the loan? This could spell disaster.
Something I have seen a great deal recently are cases in which one party has allowed the other party to keep the family residence as part of the asset division in the divorce and has remained on the mortgage loan. This was done quite frequently prior to 2009 with the anticipation that the party keeping…
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