When a couple with a business divorces, determining the business's value is essential for a fair asset division. California is a community property state, meaning assets, including a business, are typically split 50/50. However, the valuation process can be complex,...
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High Asset Divorce
The role of a forensic accountant in a high-asset divorce
Divorces are tough, especially when there is a lot of money involved. That is where forensic accountants come in. These financial experts are like detectives who help unravel all the money mysteries in a high-asset divorce. Understanding the role of forensic...
Asset tracing tips for divorce
Equitable property division terms begin with a complete understanding of your marital property. A high-asset divorce may make matters more challenging. You may choose to involve the services of a forensic accountant. They can walk you through the asset tracing process...
Dividing assets during divorce
Divorce can be messy and emotionally taxing. One of the most challenging parts of a divorce dividing the assets that you and your spouse acquired over the years. You should understand how your divorce agreement can impact your finances and lifestyle so you can reach...
Why you must consider college expenses in divorce
Divorce can be a painful and expensive proposition, especially when kids are involved. However, it becomes vital that both parties in a divorce undergo appropriate and accurate financial planning in order to protect the future of the children. This means that college...
Property division in a high-asset divorce
If you are ending your marriage, you know how difficult it can be to split up your assets and debts. Emotions can interfere with logic, yet your future may depend on making smart financial decisions. Property division is often more complicated in a high-asset...
Protecting retirement during divorce
When people in California get a divorce, each may be entitled to a part of the other's retirement account. This can have a significant effect on a person's retirement plans whether it is in a few years or further away. It is important to not become overwhelmed by...
Tips for dealing with new alimony tax laws
California couples who are getting a divorce may be aware that starting in 2019, tax laws around alimony are changing because of the Tax Cuts and Jobs Act. For divorce agreements finalized after the end of 2018, alimony will no longer be tax-payable or tax-deductible....
Gray divorce and retirement
No matter how old individuals are when they get a divorce, it can be a process that negatively impacts them financially and emotionally. For California residents who are at least 50 years old, getting a divorce can be extremely difficult, particularly if they have had...
How comparative wealth can affect divorce
According to some experts, amicable divorces are actually more common among Californians with very significant assets. One divorce attorney said that wealthy couples with over $5 million in assets are more likely to achieve amicable settlements. However, upper middle...