When couples decide to separate, it often takes some time to sort out their finances. 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 as credit cards, car and other installment payments, and a mortgage. There are different… Read more »
Posts Categorized: Financial
How is the Monthly Amount of Child Support Calculated?
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?
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 »
Does a Trust Protect Me From Creditors?
A trust does NOT protect you from creditors. One of the wonderful things about a trust is that it is so very, very easy to deal with after you set it up. There are no formalities to follow, no forms to file, no permission to ask. You DO have to title you assets into your… Read more »
Do I Already Have an Estate Plan?
You probably believe that you don’t have an estate plan. However, everyone already has an estate plan. It’s not a very good one, but it’s a plan. The people who write California laws know that too many people never get around to writing even so simple a thing as a handwritten will. Many more than… Read more »
You are Preparing to Separate. What Should You Consider if You are Going to Stay in the House or Use a Jointly Owned Car?
“Watts” charges or credits refers to the case of In Re the Marriage of Watts. The court in that case dealt with the issue of what happens when one party in a divorce uses a community asset after separation. Common situations are when one party stays in the family residence and the other moves out… Read more »
How is Spousal Support Calculated?
Divorcing spouses may agree on how much support will be paid, the length of time it will be paid, and other aspects of spousal support, sometimes called alimony. In the absence of an agreement, there are two different methods a judge will use to determine spousal support. At the beginning of a case, when the… Read more »