Houses, cars, and savings accounts don’t come as a surprise, but it’s a shock when divorce assets like a professional degree is included.
Divorce doesn’t mean we stop caring for our kids. It certainly doesn’t mean we stop providing for their care. This most often takes the form of child support.
CALLER: “I’m with a long-term girlfriend who is cheating now. Or has been for a while. But we bought a house together. I can’t get her to go out, and I can’t afford to get out. What can I do to help push her out?”
There are two ways that assets and debts are divided in the US. Forty-one states use equitable distribution and the rest use community property. California practices community property.
Spousal support is court-ordered payments designed to ease the financial hardship of dependent spouses following divorce. Many people refer to it as alimony. Depending on the circumstances, the court may award temporary or permanent support.
Every divorce has a lot at stake, but high asset divorce presents its own unique problems. Here are some costly common mistakes people make.
CALLER: “I’m married. Say my wife got a ‘gift’ but it’s called an ‘inheritance’ even though her parents are still alive. Is that an actual ‘gift’ or is it really an inheritance?”
During a divorce you lose assets you likely need to replace. Rebuilding your finances post-divorce should be a huge priority.
California law provides guidelines for courts to use in determining and setting child support payment amounts.
The average cost of a divorce in California is $17,500. All cases will incur an initial filing fee. In San Diego, this costs $435 and additional motions bring additional fees. This ballpark range is strictly an estimate; significant assets, children, and how contested the divorce is will all add to the expense. In complex divorces that are highly contentious or go to trial, it is possible for the cost of divorce to exceed $100,000. The cost of a complex divorce will be impacted by the necessity of experts.
A house is the biggest purchase most of us make. What happens if we own a home, marry, then divorce? That’s where Moore Marsden comes in.
You may need a new place to live after ending your marriage, but it may not be the right time to buy a house during a divorce.
Military service complicates many relationships. It also complicates the divorce process. One area that often gets twisted is military pensions.
If your divorce requires spousal support, making payments while knowing your ex is living with someone else may be a bitter pill to swallow. You also may be able to do something about it.
Bankruptcy impacts every facet of your life. Your marriage feels the brunt, and so does the process of ending it. Does bankruptcy change divorce?
CALLER: “My ex agreed to pay my daughter basically the same sum of money he was paying for child support. And that was what we agreed to. Unfortunately, we didn’t file any legal documents to that effect. What can I do?”
A legal separation is a formal and legally binding agreement that divides debt, assets, and property between spouses; it will also address the issues of support and custody. Creating a separation agreement is similar to getting divorced, with the main difference being after a legal separation is finalized, you are still married.
Divorce impacts almost every facet of your life, and that includes Social Security. Here’s what you need to know about the changes you face.
If you pay attention to the news, you’ve probably noticed bitcoin. It’s also become a point of contention during divorce. Here’s what you need to know.
When an ex refuses to sell a home, a number of issues large. But what can you do? How can you protect yourself against foreclosure in divorce?
When it comes to divorce, dividing up assets forms a big piece of the puzzle. This includes, potentially, Social Security disability payments.
CALLER: “I got divorced back in 2011. My ex-husband and I owned a home together, which we still do. He was willing to release his interest to me so we did a quick claim deed. But apparently, all that did was release my interest, but not my responsibility on the loan.”
CALLER: “I was just wondering how a pension works? If one person has a pension, and the other doesn’t, do they get some of that or not until they start receiving it?”
I’m paying back-child support on a child that isn’t biologically mine. How am I still on the hook for this money?
CALLER: “I got divorced in Oregon in 2017. Everything was fine, alimony was set on a sliding scale for ten years. But she owes me $5,000 in legal fees. I pay $100 per month less until the $5,000 is paid for. Will I get in trouble?”
Marriage means intertwining two lives. When a marriage ends, divorce is the process of untangling them. Part of that means dividing up any shared assets you amass together. Another unfortunate part is splitting up any shared debt. That can be a big financial blow. But what happens if you live …
CALLER: “I’m not married to my former girlfriend, but we mutually own a house together. And I purchased another [property] while we were together. She’s baited me into arguments, recorded them and got a protection order. She owns houses in other states, and I’m terrified she’s done this to people before. It was very contrived and instigated.”
CALLER: “My sister and her husband are getting a divorce. They live in a house that was willed [to her] by our parents when they passed away. They were married at the time and lived in the house for 20 years.
He’s been trying to bully her into giving him the house, saying that he’s the breadwinner and he’s entitled to it. More than half. She works as well, but is she entitled to any more than half, being that the house was willed to her?”
CALLER: “So my fiancé and I were given a ring from a family friend. The ring is in her name from her husband and then he passed away, so she gave it to us as an engagement gift. She got into an argument with my soon-to-be mother-in-law and it just turned nasty. She requested we give the ring back. Do we have to give her the ring back or can we keep it?”