A tax obligation is a debt you owe to a tax authority, such as a city, state, or the federal government. In California, divorcing couples divide tax obligations just like other property. Separate Tax Obligations Sometimes, the tax is owed only by one spouse. If that's the case, you'll have it confirmed as that spouse's obligation. Usually, this is the case when the tax that one of you owes is from before the marriage, or if you filed separately. Joint [...]
There are three parties involved in the division of debts in your divorce agreement: you, your spouse, and your creditor. While your divorce agreement is legally binding for you and your spouse, this isn’t true for your creditor. Here is what that means for the debt-division process. Source: shutterstock.com / Photo Contributor: David Pereiras Whose Debt Is It? In a lot of ways, dividing your debts works just like dividing your assets. However, it’s essential to keep track of [...]
If you have children under the age of 18, one of the most important and challenging things in your divorce agreement is custody. With so many legal terms and logistics, it can seem downright overwhelming. We've broken the issue down for you. This article will help you think through the issues that you and your spouse will need to reach an agreement on. Source: shutterstock.com / Photo Contributor: fizkes Best Interest of the Children In general, you and your [...]
People in same-sex relationships long looked forward to the day their marriages were treated like marriages. Finally, in 2015, the United States Supreme Court held that the right to marry is an essential part of a person's liberty. They ruled that States must recognize same-sex marriages performed in other states. Various people and religious organizations refuse to recognize same-sex marriage. Both local and federal governments, however, must now treat such marriages as valid. This will result in greater certainty [...]
Before creating your divorce agreement, you need to know, from a legal standpoint, what belongs to you, what belongs to your spouse, and what belongs to both of you. In states like California, this is where the concept of community and separate property comes in. Source: shutterstock.com / Photo Contributor: Basicdog What You Need To Know About Community Property So what is "community property"? Community property is an asset or debt that both spouses have an equal right to. [...]
When emotions are riding high, individuals might engage in behavior that they wouldn't have previously imagined possible. One of the people in a divorce may be fixated on making sure their spouse "never sees a dime." So, what happens if one spouse is spending a lot of money before the divorce being final? Although marital fault is becoming less of a factor for many judges, the concept of economic fault remains essential when it comes time to divide [...]
Every child has the right to financial support from their parents until they reach the age of majority, which is between eighteen and twenty-one, depending on the state. In almost every case, the parent who has the children less than fifty percent of the time will pay child support to the other parent. There are exceptions. Some parents split child-rearing time 50-50 and make almost the same amount of money. Other times, the parent who spends the majority of [...]
For many pet owners, their furry companions are family. In many cases, both spouses want to spend time with and care for their family's dog or cat. A court views your pet as property, and they can only make the same sort of rulings for them as they would make for any other property. Thankfully, if you and your spouse can reach an agreement, you can create whatever kind of arrangement makes sense for you, your spouse, your [...]
Q: What is "custody?" A: The term "custody" refers to a parent's legal right or obligation to house and care for their children, and to make decisions concerning their upbringing, schooling, religion, medical care, and other matters. Q: What types of custody arrangements are available to us? A: The best custody determination occurs when both parents agree on custody matters without going to court. In these situations, their lawyers or mediator can draw up whatever agreement works for a [...]
Q: How much does a trial cost? A: Divorce trials can be costly. For your lawyer to prepare for and conduct a divorce trial seldom costs less than $10,000 to $20,000. Costs can go even higher, even up to $100,000 or more if the issues are complex, and include disputes such as the value of a self-owned business or a custody dispute where each parent desires primary custody. By the time your case goes to trial, you should have a [...]