Although divorce can be emotionally destructive, it does not need to disrupt other important areas of life. In fact, recovery from divorce can feel a lot better, even with the possibility of remaining amicable with former spouses, if people secure their financial future.
Alimony or spousal support is sometimes ordered during divorce proceedings. Its purpose is to ensure one spouse can maintain a similar standard of living as he or she enjoyed during the marriage. Not all couples are eligible for spousal support, as judges often consider certain factors when making a decision. The Judicial Branch of California explains a few of these factors.
While it's the duty of the court to decide the equitable distribution of marital property during a divorce, hidden assets will be left out of the process. As a result, your ex may be privy to an unfair share of assets, which is both unethical and illegal. While it can be difficult to uncover hidden assets, Forbes explains a few of the methods spouses typically use.
If the writing is on the wall and a California divorce is on the horizon, you may wonder how to prepare for the bumpy road ahead. The team at Trabolsi Levy Gabbard LLP has experience assisting clients with equitable distribution of property in high asset divorces.
When your California divorce includes one or more businesses among the marital assets, failing to agree on a company’s value may prove a significant stumbling block to the settlement. At Trabolsi Levy Gabbard LLP, our team has experience assisting high-asset clients to conclude their complex divorce.
Separating your life from that of your spouse is difficult when there are few assets, and the split is equitable. If children and a California business are involved, the proceedings can become complicated. The experienced team at Trabolsi & Levy, LLP address the unique concerns of high net worth clients and their spouses to ensure they receive fair representation.
If you live with someone in California, but the two of you never married or registered a domestic partnership, you may still be able to get “spousal” support if and when your relationship breaks up. As FindLaw explains, California has a unique law that allows some cohabitating partners to receive palimony at the end of a cohabitation arrangement.
When preparing for a divorce, Los Angeles couples would be wise to sit down and take stock of the assets they possess that will be subject to property division. One asset that many often fail to include in such an assessment is a 401k. At first, it may seem odd that a 401k could be viewed as a marital asset, especially since its capital is drawn from an individual's paycheck. Yet the money earned from that paycheck while one is married is marital property, which explains why his or her 401k would be also.