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Assets & Debt
Rolled up dollar bills
by Zonder Family Law Group In a California divorce, the legal process commences with one party filing a Petition, and then serving the Petition and Summons on the other party, who then has the option of filing and serving a Response. The next phase of the divorce process involves the parties serving on one another...
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For many divorcing couples, the most significant assets to be divided in a divorce are the house and any retirement funds, whether those funds be in the form of an employer-sponsored account such as a 401(k) or a pension, or individually-managed IRA (including a SEP IRA and/or Roth IRA), solo 401(k), etc. There are several...
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It’s not at all uncommon for the parent(s) of a spouse going through a divorce to help their adult child out financially through the difficult period of adjusting to life post-separation. This could mean something as simple as sending a few small checks to help cover bills or pay for an apartment deposit. But in...
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The two major financial issues that spouses deal with in a divorce with respect to one another (meaning, not relating to child support for the children’s benefit) is property distribution and spousal support. With property distribution, the parties are negotiating (or having the judge decide, if need be) how much of the existing property at...
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For people with beloved dogs, cats, potbelly pigs, or any other type of pet, their animal housemate may be their best friend, a trusted companion, or even like a child, but in the world of divorce law, a pet is decidedly “property” and not treated the same way a child would in a custody proceeding....
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One of the most misunderstood concepts in family law is that there is a universal, or at least nationwide, set of rules that applies to divorces. There is not, and each state sets its own laws applying to divorces. So what you saw in a movie, or what you heard about a celebrity divorce in...
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More and more, student debt – especially for people in their 20s, 30s, and even 40s and beyond – is the primary debt obligation individuals carry for years, eclipsing credit card and auto loan debt (and often an obligation that makes even acquiring home mortgage debt difficult). In a divorce between a couple where one...
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If you’re reading this, you probably don’t need an explanation for why the unprecedented and indefinite era of COVID-19 is leading more people to consider whether a divorce may be the best way forward. It could be the increased time at home with an unpleasant (or far worse) spouse. It could be new realizations about...
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The original American Idol and singer of “Since U Been Gone” Kelly Clarkson has recently filed for divorce in Los Angeles Superior Court from her husband of seven years Brandon Blackstock, according to media reports. While little is known about the underlying situation, Clarkson’s petition for dissolution indicates that she is both seeking to avoid...
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In any divorce, attention should be paid to the risk that one spouse might attempt to deplete community assets – especially large assets such as retirement plans – before the divorce is final and perhaps even before a petition for a divorce is filed. The thinking on the part of the spouse attempting to drain...
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