Divorce is usually a combination of complex matters that can become even more intricate when a business is involved. The question of whether a business is considered a marital asset is a pivotal one, and the answer isn't always straightforward. Whether a business is a marital asset hinges on several factors. First and foremost, the timing of when the business was established is crucial. If … [Read more...] about Is a Business a Marital Asset in a Divorce?
assets
Tips for Avoiding Tax Implications When You Divorce
Divorcing couples need to be informed about the potential tax consequences of any financial decision they make. The wrong decision can cost you thousands of dollars. The surest way of avoiding these mistakes is to have the help of a financial professional like a certified public accountant (CPA) participating in the divorce process. Not all assets are equal, even if they seem to be. For … [Read more...] about Tips for Avoiding Tax Implications When You Divorce
What Makes a High Asset Divorce Different?
The divorce process is always stressful even for couples who agree a divorce is in their best interest. The stress is compounded when there are a lot of assets involved. The one who generates most of the income fears losing a lot of money. The one who generates less fears not getting enough. In an ordinary divorce, couples may own a home, one or two vehicles, and maybe a family business. In a … [Read more...] about What Makes a High Asset Divorce Different?
Digital Assets in Divorce – Identifying Spouse’s Crypto Assets
California is a community property state. This means that all assets accumulated by a married couple during their marriage belongs equally to them both. When they divorce, those assets are legally to be divided equally between the spouses. A problem occurs when one or both fail to list assets. When it comes to digital assets, this failure could be accidental or intentional. You need to know … [Read more...] about Digital Assets in Divorce – Identifying Spouse’s Crypto Assets
Divorce Myths: Assets are Divided 50/50
In a community property state, like California, the law provides that all assets a married couple accumulated during their marriage belongs equally to them both. When they divorce, those assets are to be divided 50/50. At least that is how it should be done in theory. In reality, the 50/50 division is almost a myth. There are factors that affect how this division is done. Often, couples who do … [Read more...] about Divorce Myths: Assets are Divided 50/50