Owning a family business with their spouse is a dream that many people share. Once this happens, the business becomes a focal point of the relationship. That doesn’t become a problem unless the couple decides to divorce. At that point, the business can become a major...
Property Division
What are commingled assets?
Dividing assets is a very important part of divorce, and it starts by classifying those assets correctly. Separate assets are often those that people owned before the marriage, and they may not be subject to property division. Marital assets are those that the couple...
What happens to a medical practice in divorce?
Building a life together often involves supporting each other's dreams. For some couples, this includes building a business together, such as a medical practice. Understanding how this jointly built asset is treated under the law is crucial when facing divorce....
Who gets an inheritance in a divorce?
When you get divorced, you and your spouse need to divide your marital assets. In some cases, this division is straightforward. Money in a bank account – which was earned during the marriage – is a marital asset, for instance, as is a family home that you both...
Commingled assets can complicate property division in a divorce
One of the first steps when dividing property in a divorce is identifying which assets are considered marital property and which are separate property. Marital property typically includes assets acquired by either spouse during the marriage, such as income, real...
How is original artwork divided during a divorce?
Dividing assets can be complex during the divorce process, especially for sentimental or valuable items like original artwork. California is a community property state, which means wealth acquired during the marriage is usually considered jointly owned by both...
Dividing art in divorce
An artist has a unique bond with their art creation or collection. After all, determining the value of an art depends on understanding the artist behind it. So, when an artwork comes in the middle of a high-asset divorce, it is most likely one of the most complex...
What is the marital standard of living in California?
The marital standard of living is the lifestyle you and your spouse established and enjoyed during your marriage. It comprises your shared marital expenses and current financial standing while married to your spouse. California law includes a marital standard of...
How are businesses valued in a California divorce?
Property division gets more complex when divorcing parties have multiple and high-value marital assets. Unlike cash which the court can easily divide, vacation homes and marital businesses undergo a more challenging valuation process. Different methods to value a...
Dealing with property and debts in a California divorce
An important part of your divorce is dividing the marital property and debts that you have accumulated together over the course of your marriage. You will also need to obtain a formal court order to finalize these issues. In California, you can discuss how you would...