Why Do You Need An Estate Plan?- Part One

Posted by & filed under Estate Planning, Finances, Legal.

Many people think that if they are not rich, they don’t need an estate plan.  Many more people figure that “things will just work out” when they die.  The vast majority of people don’t like to think about dying.Many people think that if they are not rich, they don’t need an estate plan.  Many more… Read more »

How is the Monthly Amount of Child Support Calculated?

Posted by & filed under Divorce, Finances, Financial, Kids, Legal, Separation.

In California, in the absence of an agreement providing otherwise, child support is calculated by using a “guideline” formula, which takes into consideration the respective incomes of each parent, the percentage of time the child has with each parent, and various other factors that affect an individual’s income or taxes.  This formula is based on… Read more »

What Happens to Spousal Support If the Recipient Decides to Live with a Significant Other?

Posted by & filed under Divorce, Finances, Financial, Separation.

If the recipient of spousal support elects to cohabit with someone with whom he or she is romantically involved, it may affect the recipient’s rights to continue receiving spousal support.   If the recipient of spousal support elects to cohabit with someone with whom he or she is romantically involved, it may affect the recipient’s… Read more »

How are retirement accounts divided in a divorce?

Posted by & filed under Divorce, Finances, Legal.

As part of the dissolution process, all community property assets are subject to division, including retirement accounts. There are specific orders that are used to divide retirement assets, known as Qualified Domestic Relations Orders (QDROs). These orders generally define how the community property interest in a spouse’s retirement account is calculated, and how the non-employee spouse… Read more »

We’re separating. Who pays the bills?

Posted by & filed under Divorce, Finances, Legal, Separation.

When couples decide to separate or divorce, it often takes some time to sort out their finances after separation. (Learn more about how long will it take to get divorced?) Sometimes, they still live together and have a lot of joint expenses. Even when they are not living together, they may still have joint debts such… Read more »