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Divorce Resources for Women

‘Community Property’ Category

You Get The China, I Get The Tools. Who Gets The Retirement Account

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A divorce can be expensive, both financially and emotionally. Dividing assets collected over years of marriage often is the most challenging part. The procedures for splitting checking accounts, and savings accounts, are thorough and laid out with all the fine print. What about retirement savings? That depends and a couple should get educated on dividing retirement accounts when divorcing.
As Forbest points out, governing bodies at different levels — state, federal & local — treat property different. Some states (more...)

Can An Orange County Divorce Destroy Your Retirement?

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By Gerald A. Maggio, Esq.
When you have finally made up your mind to get a divorce, it is likely that you may not think too much about how it can have an impact on your retirement. However, it is an extremely valid matter to think about. Insured Retirement Institute conducted a study which observed that about 24 percent of the divorced couples who are born after World War II felt their condition will deteriorate after retirement because of (more...)

Division of Pension Plans In A Divorce

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Pension plans are usually divided in one of only two ways: “cash out” or by Qualified Domestic Relations orders (QDROs).  The latter is the most common way through which pension plans get handled. Under this scheme, it is ordered by the court that at the time of retirement of the employed spouse, the other one will be the recipient of a percentage of every pension check. This percentage is arrived at by dividing years when the (more...)

Ways to Protect Your Assets in a Divorce

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You would be well aware of the fact that once you separate from your spouse and start a new life from scratch, you will need substantial financial support to pay your bills and maintain your regular standard of living. It is, therefore advisable, to organize your finances and assets in such a way that your spouse cannot obtain an undue ownership of what is rightfully yours. By devising a solid plan before you go on to file a divorce, (more...)

Division of Debts in The State of California During a Divorce

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What are community debts and separate debts?
In the state of California debts between a couple are divided into two types – community debts and separate debts. Community debts are those debts that are accumulated by both parties to the marriage during the marriage until the date of separation. These debts are to be equally divided between both the parties even if only one spouse was responsible for incurring these debts. Separate debts are those debts that were incurred (more...)

The Steps Involved in Property Division During Divorce

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Property division is one of the most crucial aspects related to divorce or legal separation settlements. California community property law states that all the property and debts acquired by the couple during marriage should be divided equally between the two in the event of a legal separation or divorce. Many times, the couple reaches a mutual agreement regarding the property and debt division, whereas in some cases, the couple needs to take the help of a court of law (more...)

Dividing Pension Plans In A Divorce

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Similar to the rest of your property and assets, your retirement plan requires proper division post a legal separation or divorce. Although you are entitled to reaping the benefits of your retirement plan only when you actually retire from your job, the division of the balance in the plan may be divided between you and your spouse in case of a divorce long before your retirement. The state laws of California have adequate provisions for dealing with the splitting (more...)

Divorce After 50 – How is it different?

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It is undisputed. Baby boomers are divorcing at an historic pace. While divorces among married couples has gone down slightly over the past twenty years, from 1990 thru 2010 it has nearly doubled for couples over the age of 50. Over 600,000 people 50 years old and older got divorced in 2010, and the rate of divorce was 2.5 times higher for those in remarriages than with people ending their first marriage. Experts conclude that more people (more...)

Can I Go After My Husband’s Stock Options and RSUs in a Divorce?

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In the past, stock options were primarily an award for a company’s top management team. In the past few decades, however, stock options and RSUs have become a much more common employee incentive, and the National Center for Employee Ownership estimates that “since the late1980s, the number of people holding stock options has increased nine-fold.” If your husband has stock options or RSUs in his company, these options are valuable assets that you CAN and (more...)