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Property division: Why would a spouse try to hide assets?

A California attorney who has been hired to help investigate a possible hidden asset scheme might recommend searching in several different places. Achieving an appropriate property division agreement requires full disclosure on the part of both spouses. If one of them has a tendency to be secretive when it comes to finances, it is, perhaps, likelier that he or she might attempt to beat the system by stashing cash or otherwise hiding assets in divorce. 

Property division: Is your wedding ring marital property?

When a California spouse decides to file for divorce, he or she undoubtedly faces many other decisions and issues that must be resolved before moving on in life. Especially for couples who have been married a long time or those who have children, property division and child custody matters can be complex and difficult to sort out. A particular obstacle may arise regarding wedding rings.

Worried that property division will be a problem in your divorce?

When a California married couple has a high net worth, divorce can be quite complex. It is not uncommon for such cases to involve disputes about property division. This state operates under community property guidelines, meaning all marital property is typically split 50/50 in divorce.

Poperty division a main concern in Courtney Stodden divorce

California readers who also happen to enjoy reality TV shows may be among fans of Courtney Stodden and her now-former spouse, Doug Hutchison. The pair made headline news when they married in 2011. Three years or so ago, they separated. Stodden says they have finally settled property division issues are merely awaiting the judge to sign off on their final divorce papers.

How California differs from most states in property division

Most readers would agree that California spouses often relate to one another when it comes to marital problems. While no two divorces are exactly the same, many spouse find the stories of others sounding quite similar to their own. When it comes to property division proceedings in divorce, however, California is somewhat unique because it operates under community property guidelines.

Property division: Are you ready to split everything 50/50?

Before 2019 ends, many California spouses will file for divorce. If you plan to be among them, there are certain issues you'll want to clearly understand ahead of time, such as how property division proceedings operate in this state. Whether you and your spouse are parting on friendly terms or you expect to have to fight for everything to which you may be entitled, it is best to learn as much as you can ahead of time to avoid surprises in court. 

Are student loans split in a divorce?

If you and your spouse in California have made the tough choice to end your marriage, you will need to get a good understanding of your assets and debts. Identifying these things will be an important step in determining how you will divide your marital estate. California is a community property state so a divorce division is required to be equal for both parties although there are many ways that may be accomplished.

Divorce in the face of serious debt

Marriage is understandably a complex thing given that it touches every aspect of a person's life. This means that your marriage could experience challenges from a variety of sources. For many couples in California, it is money that becomes a big hurdle to their ability to successfully manage their relationship. In fact, many a divorce has been precipitated in large part due to financial problems. 

Your home and mortgage when you divorce

If you are getting divorced and you and your spouse own a home together in California, you will need to decide whether to sell your home or to have one partner keep it. Family homes are commonly sold when people get divorced and there are many good reasons for this. One of the reasons it may be best to sell your home is to protect you from future financial challenges brought on by your former spouse.

Divorce as a factor in poverty

Residents in California who are getting divorced often struggle with how to split their marital estate. Losing any amount of their shared assets can be hard but some research is now showing that the impact may be quite severe for some people, especially for couples who get divorced in their 50s, 60s or beyond.

*AV Preeminent and BV Distinguished are certification marks of Reed Elsevier Properties Inc., used in accordance with the Martindale-Hubbell certification procedures, standards and policies. Martindale-Hubbell is the facilitator of a peer review rating process. Ratings reflect the confidential opinions of members of the Bar and the judiciary. Martindale-Hubbell ratings fall into two categories - legal ability and general ethical standards.

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