If you are in the process of divorcing your spouse in California, you should know what property you are entitled to keep in your possession. California is a community property state, so anything purchased or earned during the course of a marriage should be split 50/50. Read on to learn more about what constitutes community property and how it is divided.
For those in the process of or considering getting divorced, one of the major questions you'll face is what assets you'll be entitled to. Between shared property, pension plans, and even debt, your portion may or may not be what you had in mind.
Right of survivorship is an important legal right that allows property owners to keep property in the event of the co-owner's death. Some states offer right of survivorship in the form of community property. However, community property with right of survivorship has additional restrictions and different tax implications than joint tenancy. Read on to learn more and determine which type of co-ownership is right for you.
Fear of the financial hardships brought on by divorce is one of the factors that makes people stay in unhappy marriages until they become certain that divorce is the only option. Every couple that gets a divorce must divide their community property, and not all states have the same rules about how to divide a couple’s property in a divorce. California is a community property state, which means that each spouse gets an equal share of the net value of the couple’s community property in California. You do not need a lawyer to fight for your fair share of the community property in California. By law, you are already entitled to half of it. Therefore, unless you and your spouse cannot reach an agreement about some other issue, such as child custody, there is a good chance that you can finish your divorce without a lawyer. All you need is a registered legal document assistant to prepare your divorce documents.
When a couple files for divorce, one thing that is inevitable is dividing their property. In California, the rule is that all community property assets (any income and assets acquired during the marriage) must be split 50/50. A couple could sell all of the marital assets and split the proceeds if they would like, but there are more creative ways to divide property in divorce. Sometimes a couple just needs to think outside the box.
California inheritance laws also known as intestate succession laws, outline how the decedent's property passes to his/her immediate family members or other heirs down the line of genealogy. In other words, if you don't have a Will or estate plan, California inheritance laws determine who gets what when you die.
Couples who have been married for more than ten years often face challenges when dividing retirement accounts during a divorce. Fortunately, there are creative ways to avoid having to divide retirement plans in divorce. Read on to learn more about how to avoid retirement division in divorce and how A People's Choice can help. [...]