Tag: <span>Money</span>

Dividing Retirement Assets in a Divorce

February 17, 2021February 1, 2021
by Briana White

With so many different types of plans and variables at play, dividing retirement assets in a divorce can be complicated. Especially if they existed both before and during a marriage, dashing any hopes of a clear property classification. However, considering their sizable worth, retirement accounts are one aspect of property division you don’t want to get wrong.

Fortunately, a good Stockton divorce attorney can help you get the job done without too much hassle.

Identifying Retirement Assets in a Divorce: Community or Separate Property?

When splitting a retirement plan, the first step is to identify what kind of property the account is. Like all other assets acquired by a couple during marriage, retirement funds are subject to property classification and division under California’s community property laws. Under these rules, assets are categorized as either “community” (property that belongs to both spouses equally), or “separate” (property that belong to one spouse, individually).

To classify the contents of a retirement account, timing is key. If either spouse contributed to the account while married, it is most likely community property (unless specifically addressed in a valid prenuptial agreement.) On the other hand, if the account was created before marriage—and was not added to during that time—it’s most likely separate property, and belongs solely to the participant spouse (the party who earned the benefit).

Most of the time, however, property isn’t as clear cut as “before” and “after” marriage. And when the ‘what’s mine is yours’ mentality results in blending separate and community property together, retirement division can get a little more complicated.

Dividing Retirement Assets in a Divorce

If the retirement account is classified as community property, a judge will split ownership based on the length of time the couple was married, and how this occurs will vary by circumstance. In some cases, both spouses agree to keep their own pensions and retirement accounts without taking any part of the other spouse’s. However, when one spouse doesn’t have a retirement account – or when one has a much smaller retirement asset than the other does – a judge will order the couple to split these funds another way. There are two common ways this can be accomplished.

The first, is to suspend all retirement payouts until the participating spouse actually retires. Once retirement finally rolls around, each spouse will get their share of the retirement payout for the time married. The second method, is to allow the participating spouse to keep all benefits of the retirement plan, and to offset this inequality by awarding the non-participating spouse a greater portion of community assets.

Obviously, each method of distribution comes with its own pros, cons, and risks. When assessing how to make this split, couples are always free to reach their own agreement, rather than fighting in court. One way to do this, is through mediation.

Divorce Mediation

Mediation is a non-binding negotiation process, where couples meet with a neutral third party, and try to come to an agreement on their own. This method of dispute resolution is far simpler and more cost-effective than litigation. It also gives individuals greater flexibility in determining the outcome of their own divorce terms, including the division of any retirement plans. For these reasons, a good attorney will always suggest that you try mediation before going to court.

Retirement Payout After Divorce

Once an agreement has been reached—either through mediation, or by litigation—the actual payout process will depend on what type of retirement plan you have.

For example, when dealing with a military retirement account, the length of your marriage will determine whether the participant pays out the alternate payee, or if the money will come directly from the Defense Finance and Accounting Service.

In other cases, individuals must file a qualified domestic relations order, or QDRO. A QDRO is a special court order authorizing a non-participant individual to receive a payout from a retirement account. Once a QDRO is filed, payout usually takes between 60 and 90 days, depending on how long it takes the plan’s administrator to process the documents.

These types of details—such as how payout works and how long it takes to receive—will vary for each type of retirement account. Once your Stockton divorce attorney has all the facts of your case, they will be able to give you more specific guidance on what to expect from your retirement payout process.

Retirement Plans Covered by a Prenup

Now days, it’s common for divorcing couples in California to have prenuptial agreements. These pre-marital contracts can cover all kinds of things about property division during divorce. In your prenup, you and your spouse may have agreed to several things, including the rights and obligations you each have when it comes to property (even if it was acquired during your marriage).

If a retirement account was included in your prenuptial agreement, it’s a good idea to talk to your attorney about it. The prenup can’t be grossly unfair, and if it is, your Stockton divorce attorney can help argue that all or part of the agreement is invalid.

Divorce Attorneys in California

If you have questions about dividing retirement assets in a divorce, we’re here to help. Call us at 209-546-6870 to schedule a consultation with an experienced divorce and pension attorney. Together, we’ll answer your questions, and begin building a strategy that will get you the best possible outcome in your retirement plan division.

family-law

Child Support in California

February 15, 2021February 1, 2021
by Briana White

Parents have a legal responsibility to provide for their children, and these duties do not cease to exist just because your marriage dissolves. For couples with children, one of the most critical aspects of a divorce proceeding, is establishing an order of custody and financial support for that child. By putting the specifics of these obligations in writing, California courts ensure that both parents are held fiscally responsible for the upbringing of their offspring.

But what, exactly, this child support looks like, in terms of dollars and cents, will be different for every divorce. Just as no two couples are the same, so are no two divorces. When determining the amount of child support, courts use a specific set of guidelines, which will produce an individualized plan that caters to each family’s unique needs.

Here’s a brief run-down of those considerations, and what you can expect your final California child support order to look like.

Child Support in California

Any time a child is under the care of one parent, that parent is responsible for meeting the costs of their child’s basic, daily needs. But—as is often the case in custody arrangements—the custodial time allotted to each parent is rarely equal. The far more common scenario, is when one parent bears the most physical responsibility for the child, while the other parent has only partial physical custody. Child support, then, is meant to compensate for situations where this custodial care is unequal. Usually, the difference is made up by the non-custodial parent, however, in some situations, a judge might order both parents to pay.

As a general rule, parents have very little say over how much, and who will be required to make these payments, but according to California law(and just about everywhere else in the country, for that matter), this support is mandatory.

Calculating Child Support in California

When constructing a child support order in California, judges will typically follow California’s child support guidelines. Under this process, a number of independent factors are evaluated, however, the three biggest elements that impact the end result, are:

The number of children that qualify for support;
How much time each parent has with their children (or rather, the amount of physical custodial time each parent has); and,
Each parent’s disposable income.

Element three is the trickiest factor to figure, since it requires the most number crunching. To make things easier, California courts have devised a simple equation:

Gross Annual Income – Mandatory Deductions ÷ Twelve = Net Disposable Income

Gross annual income comprises of earnings from all sources, including regular salary, bonuses, commissions, rental income, pensions, and royalties. It can also encompass benefits from a business ownership, and even monies obtained from self-employment benefits.

Mandatory deductions required by law, on the other hand, would comprise of any tax obligations, job expenses, health insurance premiums, and other hardships (such as child support owed to a previous relationship, or health expenses).

After dividing the end result by twelve, the court is left with a pretty good idea of what each individual’s net disposable income is each month. Armed with this information, a judge can then attribute a percentage of that number toward child support, based on the amount of physical custodial time each parent spends with their child.

Other Factors Influencing Child Support

While the formula for determining child support in California might sound fairly scientific, there are still some considerations which could influence the final figure. If the mathematical outcome of these calculations isn’t “fair or reasonable,” judges have the power to alter the amount—higher or lower—at their discretion. Some of the circumstances that might prompt them to do so would be if:

A parent’s extraordinarily high income exceeds a child’s needs;
The contribution doesn’t match the custodial deficit;
Both parents spend roughly equal time with the child, but one pays more in housing; and,
Any child care costs, health expenses, or special needs that aren’t accounted for under the usual formula.

To get an idea of what your child support payments might be, based on California’s guidelines, try using this child support calculator. However, understand that these figures are just estimates, and in the end, the final amount will be up to the judge.

Appropriate Uses of Child Support

A common misconception assumes that child support in California is meant to cover only the bare necessities, and this is far from the truth. While child support money is certainly meant to put clothes on the kid’s back and food in their belly, courts expect these monies to be used for more than just essential survival. (Because let’s be honest, when it comes to kids, the term “needs” is fluid, and basically amounts to a bottomless pit). That being said, other legitimate expenditures might include education, health insurance and medical bills, childcare, transportation, extra-curricular activities, and, yes, even entertainment. A parent might also spend child support on things like heating, electricity, and internet, since these bills all address a child’s needs and expectations.

Unless basic needs aren’t being met, the custodial parent isn’t required to make an accounting of how child support is being used—and this standard probably won’t change. Not only are the costs of raising a child enormous and sometimes difficult to track, but they’re also extremely ambiguous. Requiring a custodial parent to make an accounting would place an unacceptable amount of strain on an already-overloaded court system, to say nothing of the burden it would put on the parents, themselves. It would be impractical.

So, while you probably shouldn’t use child support money to leave your kid at home and go on a solo vacation without them, the custodial parent has a lot of freedom when it comes to choosing how they spend child support. And since kids are so thoroughly blended into every single breathing moment of a parent’s life, this actually makes a lot of sense.

Duration of Child Support Payments

Another erroneous assumption that people often make about child support in California, is that payments automatically end once the child turns eighteen. Though teenagers might disagree, eighteen is not, in fact, a magical number at which point a child no longer needs the help and financial support of their parents—especially since many are still in school when that birthday occurs.

Because of this, California law states that child support payments are mandatory until the child turns nineteen, or until high school graduation, whichever comes first. Therefore, you can’t just stop paying support just because your kid hits the big one-eight. Unless your child:

Marries or registers a domestic partnership;
Joins the military;
Is emancipated; or,
Dies,

If high school hasn’t ended, then neither has your obligation to support.

Child Support and Visitation

It can be frustrating to try and wrangle child support payments out of an uncooperative former spouse each month—no one is arguing that. However, we have to stress, that being late or missing payments on child support does not give a custodial parent the right to withhold visitation from their former partner. In fact, doing so is actually a crime, and could adversely affect their own rights under the custody agreement. Bottom line? Child support isn’t the price of an admission ticket to see your child. It’s money to help offset the significant costs of raising a kid, and a late or default payment cannot diminish a parent’s basic rights to access their child.

If you are having problems with your former partner paying child support, a Stockton divorce lawyer can help you file a complaint with the court. The California judicial system takes child support seriously, and there are proper channels available to address incomplete or late payments without damaging your own rights under the custody arrangement.

Child Support Attorneys in California

Unfortunately, as much as we hate it, children are the ones usually hurt the most in divorce. And while nothing can compensate for the emotional trauma they face, child support can—at the very least—help them maintain some semblance of normalcy and comfort in the upturned world they’re expected to make the best of.

If you or someone you love have more question about child support in California—or any other divorce related questions—we can help. Call us at (209) 989-4425, or get in touch online to schedule your consultation today, and let us make sure your child support needs are being met.

Divorce

Hiding Assets During Divorce

November 27, 2019December 6, 2019
by Angie

Hiding assets during divorce is a major problem – and if you’re caught doing so (or if your ex is caught doing so), you’ll face big problems in court. Here’s what you need to know.

Hiding Assets During Divorce

When your marriage is ending, your spouse may decide to hide some of his or her assets so you can’t get them. That’s because property in California falls under specific categories – it can be community property or separate property (and in some cases, it’s a hybrid of both).

If you weren’t active in your family’s finances, or if you aren’t up-to-speed on your spouse’s income, it may be fairly easy for him or her to hide assets during your divorce. Some spouses do this so they don’t have to share – but doing so is more than unethical. It’s illegal.

During a divorce, you must both file forms with the court that truthfully disclose all your assets. That includes bank account balances, real estate and other types of income, such as pay and support from previous relationships. If you fail to do so, or if you lie on the forms, you could be held in contempt of court or be charged with perjury.

Devaluing Assets

Sometimes the value of an asset isn’t obvious without an appraisal, and in cases like those, it’s sometimes easier for a spouse to “devalue” them. That happens when one spouse says something is worth less than it really is in an attempt to share less of its worth with the other spouse. The courts don’t allow this, and in many cases, judges require professional appraisals on things that could be intentionally devalued (like houses, jewelry, businesses and other high-dollar assets). Nobody is allowed to deliberately devalue an asset for the purpose of defrauding the court.

Why Do Some People Hide Assets During Divorce?

Usually, people hide assets during divorce to prevent their spouses from getting a fair share. Unfortunately, it’s not always easy to tell if your spouse is hiding assets. Usually, if you suspect that he or she is doing so, it’s your job to track them down so you get your fair share of the community property.

What Happens if You Hide Assets?

The judge in your case can hold you in contempt of court if you hide assets – or, even worse, charge you with perjury. Perjury is a crime, and it involves deliberately giving false information while under oath. You’re subject to prosecution for perjury if you’re testifying in court or being deposed, or if you signed an affidavit or declaration that contains information you know is false. Perjury is a felony, and it’s punishable by up to 4 years in California State Prison. It’s safe to say that perjury is something you should steer clear of, particularly when it comes to disclosing your assets during divorce. It’s just not worth the risk.

Where to Look for Hidden Assets During Divorce

If you suspect that your spouse is hiding assets, you can do a little detective work of your own. You should start by taking an inventory of your property – especially if you notice that things are disappearing from your home, like jewelry and other high-dollar items. Check for safety deposit box registrations, look in your home safe and see if you can find evidence that your spouse is investing money without your knowledge. Other than that, though, it can be difficult to tell if your spouse is squirrelling away things that belong to you – and you may need to work with a Stockton divorce attorney who has the resources necessary to help discover hidden assets.

Do You Need to Talk to a Lawyer Because Your Spouse May Be Hiding Assets During Divorce?

If you suspect your spouse is – or will in the future – hide assets, it’s important that you get legal guidance. We may be able to help you, so call us today at (209) 546-6870 or get in touch with a Stockton divorce attorney online to schedule a consultation.

Divorce

Preparing for Divorce: 5 Things to Do Before You…

October 27, 2019August 13, 2020
by Angie

Preparing for divorce is tough – especially if you’ve never been through this type of split before and don’t know what to expect. You can make things easier on yourself by talking to a Stockton divorce lawyer before you file; during your initial consultation, you can ask specific questions, find out how the process works and what you can expect. From there, your attorney will walk you through the entire process.

In the meantime, here’s what you need to know about preparing for divorce.

Preparing for Divorce: 5 Things You Need to Do Before You File

Check out these five things you need to do as you prepare to divorce your spouse:

Build your support network
Commit to staying civil
Stay focused on your goal
Organize your finances
Be ready to negotiate

Let’s take a closer look at each.

#1. Build your support network

Divorce is tough, and dealing with it alone makes it that much harder. While your attorney can give you legal advice, you may need someone to give you personal advice or help you learn new coping strategies to deal with the stresses you’re facing every day. Family and friends can be great resources when you need divorce support – and don’t forget that you can always talk to a divorce counselor or therapist, too. (And so can your kids!)

Related: Divorce tips

#2. Commit to staying civil

You’re more likely to get what you want out of your divorce if you commit to staying civil with your spouse – and if you have children, civility is a necessity. You and your spouse will continue to parent your kids long into the future, which means you have to at least refrain from verbally attacking each other when you communicate. We’re not saying that you have to get along with your ex, but you do have to try to be polite and willing to negotiate throughout the process.

#3. Stay focused on your goal

If you’re like most people, your main goal is to make it through your divorce with a reasonably satisfying outcome. You don’t want the whole world, but you don’t want to settle for less than you deserve from your marriage, either. Keep your eye on the fact that your divorce will be over in time – sooner if you and your spouse reach agreements on your own – and that you can begin moving forward right now.

#4. Organize your finances

Divorce is a big financial change for most people. Whether one of you stayed home and cared for the children or you both worked during your marriage, you’re likely going to see some changes in your bank accounts. One spouse may have to pay the other child support and spousal support, and you may need to part with some of your assets to pay off your joint debts. You’ll be more successful if you organize your finances now, while you’re still preparing for divorce. That may mean:

Opening bank accounts and lines of credit in only your name
Removing your name from bank accounts and lines of credit you share with your spouse
Getting a job
Learning what assets and debts you and your soon-to-be ex-spouse have
Gathering documentation on all your assets and debts to share with your attorney

You should definitely talk to your attorney before you take any major steps (like getting a job or quitting a job), and you should never drain joint financial accounts.

#5. Be ready to negotiate

As you prepare for divorce, know that legally, what you’re doing is dissolving a marriage contract. That means you’ll have to go through a negotiation process to get what you want from the divorce. Be ready for give-and-take when it comes to dividing your property (California is a community property state, so you’ll have to divide the assets you accumulated while you were married) – and when it comes to child custody, too. The judge won’t approve your plans unless they’re fair to everyone involved.

Do You Need to Talk to an Attorney About Preparing for Divorce?

If you’re preparing for divorce, we may be able to help you. Call us right away at (209) 546-6870 or get in touch with a Stockton divorce attorney online to schedule a consultation today.

Divorce

Divorce: What to Do First

October 1, 2019December 7, 2019
by Angie

If you’re thinking about divorce, what to do first is probably one of your main concerns. Should you move out? Take yourself off your spouse’s checking and savings accounts? Call an attorney?

Here’s what you need to know.

Divorce: What to Do First

Divorce is a major life change, and for most people, that means working with an experienced family law attorney who understands the process – and who can give case-specific legal advice. You should absolutely call a Stockton divorce lawyer to discuss your situation and get guidance. When you call an attorney, you’ll be able to ask questions about your own case and learn about the process; your attorney will also have some questions for you. Then, she’ll be able to put together a strategy that gets you the best possible outcome.

After you’ve called an attorney, you’ll also need to:

Gather financial documents
Separate your finances
Save money
Talk to supportive friends and family, or a counselor
Determine your goals for child custody
Think about whether you’ll ask for spousal support (or whether you’ll have to pay it)
Figure out your living situation

Here’s a closer look at each.

#1. Gather financial documents

Your attorney will need several financial documents, including tax returns and pay stubs (from you and your spouse) to help determine your division of assets. Gather your life insurance policies, home mortgage statements and retirement account statements, as well as any other financial paperwork you can find.

#2. Separate your finances

It may be a good time to open up a bank account and at least one line of credit that’s solely in your name. However, you should talk to your attorney before you make any major financial decisions – and don’t take money out of your joint account to finance your new account without asking your attorney about it first.

#3. Save money

If you haven’t worked, now may be a good time to start looking for a job. (You should talk to your attorney about this, too.) If you’re already working, start saving your own cash rather than putting it into your joint account. You’ll still have to own up to having this money, but it’s a good idea to keep it separate from your spouse’s cash.

#4. Talk to supportive friends and family, or a counselor

We all need someone to talk to – especially during tough emotional times like divorce. Rely on your friends and family when you need someone to listen, or work with a trained divorce therapist who can help you deal with your emotions. There’s another benefit to working with a therapist, too; he may be able to teach you new coping strategies that help you get through the stresses you’ll face during your divorce.

#5. Determine your goals for child custody

When you divorce, one of the first things you’ll also want to do is determine what you want for your children. Remember, the courts always put the children’s best interest first – so that means you and your spouse should try to come to an agreement about child custody on your own (and it should be fair to everyone involved). If you and your spouse can’t agree to a fair plan that’s good for your kids, the judge in your case will decide for you.

#6. Think about whether you’ll ask for spousal support (or whether you’ll have to pay it)

In some cases, the courts order one spouse to pay the other spousal support (commonly called alimony). These payments are designed to help the lower-earning spouse get back on his or her feet and become self-sufficient. However, even if you think you’ll have to pay spousal support, or if you’re sure you’ll receive it, you can’t count on that until you have a signed order from the judge.

Related: California alimony information

#7. Figure out your living situation

Once you decide to divorce your spouse, don’t automatically move out of the house. Doing so could cost you in the long run. Instead, talk to your attorney about what you want to do – whether you want to keep your marital home or you’d like to sell it, move into a smaller place or do something different. Don’t make any moves without talking to your lawyer first.

Do You Need to Talk to an Attorney About Divorce and What to Do First?

When you want a divorce, what to do first is a big question for most people. Call us at (209) 546-6870 or get in touch with a Stockton divorce attorney online to schedule a consultation today. We’ll discuss your case, find out about your circumstances and start putting together a plan that gets you and your family the best possible outcome.

Divorce

3 Questions to Ask Yourself Before You File for…

September 22, 2019August 13, 2020
by Angie

If you’re like most people who are considering divorce, you know you need a lot of information to make an informed decision. Before you file for divorce, you need to ask yourself three very important questions – and you have to come up with the right answers before you can make the right choice.

3 Questions to Ask Yourself Before You File for Divorce

Before you file for divorce, ask yourself:

How will a divorce impact me financially?
How will a divorce impact my day-to-day life?
Are there other options?

Let’s take a closer look at each of these so you can make the most informed decision possible. We also recommend consulting with a Stockton divorce lawyer who can explain the divorce process to you and answer all your case-specific questions.

#1. Before You File for Divorce: How will a divorce impact me financially?

There’s no doubt that divorce will have a financial impact on you, your spouse and your kids. However, the impact depends on whether you both work, how much each of you contributed to the marriage, and whether you’re able to continue working the way you did while you were married.

Child Support

When you go through a divorce with children, someone is getting child support – and that means the other party is paying it. The amount of child support that changes hands is largely based on the non-custodial parent’s income, which means that the person who has the children most of the time will most likely be the recipient.

Spousal Maintenance

Alimony might be a possibility in your divorce, too. If your spouse makes less than you (or nothing at all), he or she can ask the court to award spousal maintenance. Likewise, if you’re the lesser-earning spouse, you have every right to ask the court for alimony. Alimony can be temporary (only during your divorce) or it can be more permanent, sometimes lasting for months or even years. However, there’s no way to predict how a judge will rule when it comes to spousal maintenance (unlike child support, which the state of California requires for minor children). You can’t count on receiving or paying it until you have a signed order from the judge.

#2. Before You File for Divorce: How will a divorce impact my day-to-day life?

You may not think divorce will impact your day-to-day life that much, particularly if you and your spouse have been separated or you rarely spend time together. However, if you’re a former stay-at-home mom who hasn’t been to work since you had children, it’s a big prospect – and it can be overwhelming. You’ll have to plan to get a job, find caregivers for your children and, in many cases, change your schedule around to accommodate visitation and your own time with the kids.

You’ll have to plan for these things during the divorce process. Typically, parents address things like childcare while they’re working out a custody agreement. Your attorney can help you make the right plans, too – you don’t have to do it alone.

#3. Before You File for Divorce: Are there other options?

In most cases, divorce isn’t your only option. (This doesn’t apply to cases of abuse or other significant issues.) You may be able to make other arrangements that suit your family better, such as living apart but still together, or filing for a legal separation but stopping short of divorce. You may also be able to attend marital counseling with a licensed therapist or talk to someone you trust about the issues you’re experiencing in your marriage. If both parties are willing to work at it, it’s possible to repair a marriage that first appeared beyond saving.

Are You Thinking About Divorce?

Often, people think about divorce and try to make rational, logical decisions without having all the facts. If you’re thinking about divorce, it’s usually a good idea to consult with a Stockton divorce attorney who can answer your questions and explain the process to you. Once you’ve talked to an attorney, you’ll fully understand whether it’s an option for you – and you’re under no obligation to actually get a divorce just because you talked to a lawyer.

If you’d like to discuss your options and learn about how divorce might be one of them, call us at (209) 989-4425 or get in touch with us online to talk to a lawyer who can help today. We’ll help you with every question you have about divorce, from child custody and child support to alimony and property division.

Property Division

California Divorce Law: Division of Assets

August 6, 2019March 6, 2020
by Angie

California divorce law and the division of assets can be confusing. Some things are community property and belong to both of you, and some things are separate property and belong to only one of you – and worse, some things are “commingled,” which means part of them belong to both of you together and one of you separately.

Here’s a simpler look at California divorce law and division of assets.

California Divorce Law: Division of Assets

California is a community property state, which means the things that you and your spouse accumulate during the time that you’re married actually belong to both of you. That’s true even if one of you stays home to care for the kids and house and one of you works to earn all the money. If you and your spouse acquired money or belongings during the marriage, you are both entitled to your fair share of them.

But California also recognizes separate property, as well. Separate property refers to money or belongings that one of you had before you got married, or that was given to one of you alone during your marriage (like a gift or inheritance).

Commingled property is property that one of you brought into the marriage – like a house, in many cases – but that you continued to pay for while you were married (which is the time when the things that belong to you are community property). Businesses and other assets can also be considered commingled property.

What Does California Divorce Law Say About Division of Assets for Community Property?

Under California law, you and your spouse have to divide your community properly fairly when you divorce. That doesn’t necessarily mean a 50-50 split (although it can) – it just means that you have to be fair about splitting things up when you divorce.

Sometimes people are able to simplify property division by selling the marital home and splitting the proceeds, or by otherwise reaching agreements to “trade” things between each other. For example, one party may really want the restored sports car in the garage while the other really wants the living room furniture. In cases like these, the judge will typically let couples figure out what they each want to keep during the divorce, and as long as negotiations result in a reasonably fair settlement, the judge will most likely sign off on it.

Related: Community property basics

What California Law Says About Division of Separate Assets

If you brought something into your marriage – say, a car that was completely paid for – you can typically expect to leave your marriage with it. In some cases, you may have to prove to the court that an asset was yours before the marriage; you can talk to your attorney about your situation and she’ll give you guidance.

Things like inheritances and gifts given only to one party are typically separate assets, too, although there are exceptions. For example, if you inherited a large sum of money from your grandmother and it was left specifically to you and not your spouse, there’s a good chance that you don’t have to split it with your spouse when you divorce. However, there are always exceptions – so if you have a situation like this, talk to your attorney so you can get case-specific legal guidance.

What if You And Your Spouse Can’t Agree?

Your attorney will most likely encourage you to reach an agreement on property division with your spouse. There are several good reasons for this – one being that it’s much more cost-effective to agree with your spouse than it is to engage in a time-consuming court battle over your belongings – and it’s nearly always in your best interest to try to negotiate. Often, when people go to court and ask the judge to divide their property after filling out a Schedule of Assets and Debts, both parties walk away feeling as if they lost (even if they get many of the things they wanted). However, when you negotiate a settlement on your own, you’re more likely to walk away feeling reasonably satisfied with the outcome.

Do You Need to Talk to a Stockton Divorce Lawyer About California Divorce Law and Division of Assets?

If you need to talk to an attorney about the way California divorce law addresses division of assets, we can help. Call us right away at (209) 546-6870 or get in touch with a Stockton divorce attorney online to schedule a consultation today.

Divorce

Divorce Advice for Women (That You Can Actually Use)

September 6, 2018January 17, 2019
by Angie

It seems like there’s no shortage of divorce advice for women (and there’s also plenty of divorce advice for men) – but a lot of it just isn’t practical and some of it is pretty tired and stereotypical.

That’s why we’re giving you real, practical divorce advice for women that you can use – and that doesn’t assume that because you’re the woman, you fit into stereotypical boxes.

Divorce Advice for Women You Can Actually Use

First things first: Choose your attorney wisely. Don’t pick a lawyer who doesn’t understand that your situation is unique or that you know what you want – and what you and your children need. In most cases, women find it more beneficial to work with a divorce and family law lawyer in Stockton who doesn’t also work on criminal law cases, personal injury and other types of cases. That’s because family law is complex, and lawyers who work on divorce, child custody and other family-related issues are able to keep up with changes in the law, know how the court system works and stay familiar with the nuances associated with a break-up.

Now, on to the divorce advice for women. These five tips will help you get the best possible outcome in your divorce.

#1: Figure out your living expenses now.

Your financial situation should be your top priority. If you’re struggling now, you want to find ways to prevent that in the future – and by making your financial situation your #1 priority right now, you’ll be better prepared once your divorce is over.

Do not give in on important issues like alimony (it’s called spousal support in the courtroom) just to get things over with, especially if you know you’ll need it. Your lawyer will help you get what you deserve.

#2: Plan for future expenses.

Your soon-to-be ex might be able to kick you off his health insurance plan, you might need to find a new place to live, or you may have to dig deep into savings for car repairs and other emergencies.

Now is the time to plan for them – and you can’t count on future alimony payments to keep you covered. In fact, although your ex can get in trouble for not paying spousal maintenance, there are plenty of men who skip out on payments or try to get them lowered later.

#3: Revenge sounds sweet, but it’s really not.

A lot of women try to use the court system to exact revenge on their soon-to-be exes, and it sounds great – but it’s far more likely to backfire on you than to work. Your attorney can talk to you about “getting back” at your ex and explain why the legal system isn’t the place for it… and any therapist can tell you that the best revenge you can get on your ex is to move on and be happy. (That’s another post for another day, though.)

Do You Need Help With Your Divorce?

We have plenty of divorce advice for women that’s much more case-specific, and we’ll be happy to share it with you.

We can answer your questions about whether you’ll be required to pay or entitled to receive spousal support, how to figure out child custody and the division of property, as well as any other questions you may have or refer you to a therapist focusing on divorce issues.

Call us at (209) 546-6246 or contact us online to schedule an appointment with an attorney. We may be able to help you.

Divorce

5 Divorce Finance Tips to Ensure You’re Prepared

April 17, 2017August 13, 2020
by Angie

Whether you’re thinking about filing for divorce or you’re already working on developing a parenting plan, one thing’s for certain: You need to have a financial plan in place. Most people who divorce in Stockton (and everywhere else, for that matter) notice a substantial change in circumstances, and that’s true whether they were part of a one-income or two-income household.

5 Divorce Finance Tips to Ensure You’re Prepared

While it’s always helpful to ask friends and family for divorce finance tips and advice, your best bet may be to turn to a professional if you’re not sure how to prepare for your divorce. Your attorney can help you find a financial adviser if you feel you need one. However, most people—with a little forethought and planning—are able to transition smoothly.

Divorce Finance Tip #1: Separate Your Finances and Close Joint Accounts

Your attorney will be able to help you plan the timeline for your divorce, such as when you should move out of your marital home and handle other affairs. Before you do any of that, though, it’s a good idea to start separating your finances from your spouse’s and begin working toward financial independence.

For most people, a logical first step toward financial independence during divorce is to separate your joint accounts. If you can, close the accounts you shared; if you can’t close them or your spouse is unwilling to cooperate, see if you can remove your name from them. Do the same with joint credit card accounts.

Divorce Finance Tip #2: Open New Accounts Right Away

Open your own checking and savings accounts as soon as possible, and update your bank information with your employer to make sure your paychecks are deposited in the correct account.

You should never drain your spouse’s account or a joint account during divorce. Doing so can get you into serious hot water with the court.

Divorce Finance Tip #3: Change Your Will

Just to be on the safe side, remove your spouse from your will and make sure he or she doesn’t have any powers of attorney on your behalf. If your soon-to-be ex-spouse has the authority to make financial, healthcare, or end-of-life decisions for you, you’ll need to revoke that authority and give it to someone else.

Divorce Finance Tip #4: Replace Beneficiaries

If your spouse is listed as the beneficiary on your life insurance policy, your 401(k) or IRA, or anything else, replace him or her with someone else.

Divorce Finance Tip #5: Develop Your Own Credit

If you don’t already have lines of credit established in your name, now is probably the time to start some. Landlords and lenders often get your financial information from your credit report, and it can be difficult to find a place to rent, obtain a mortgage, or get a car loan if you don’t have credit that’s solely in your name.

What if You’re Not Working?

If you’re not currently working, talk to your attorney about spousal support and whether you should begin looking for a job. Spousal support can be temporary or permanent; typically, the judge’s support order is considered temporary when you’re still going through your divorce and becomes permanent once your divorce is final. (“Permanent spousal support” doesn’t mean it’s going to be paid forever. It simply means that the order from the judge is permanent, and the support order stays in effect until a certain amount of time has elapsed, the receiving spouse remarries, or another condition is met.)

Do You Need to Talk to a Lawyer About Divorce?

If you need to speak to an attorney who practices family law in Stockton, CA, we’d love to help you.

Call us at 209-910-9865 to discuss your situation. We’ll begin developing a strategy and, if necessary, work on the appropriate paperwork to file for spousal support during your divorce.