Law Office of Lily L. Huang
More Than A Decade Of Family Law Experience

property division Archives

How valuable are your antiques?

If you and your spouse are a high-asset couple headed for a California divorce, your property settlement agreement may become one of your biggest bones of contention. At the very least, you will need to determine the value of your various marital assets before you can establish the value of each spouse’s 50 percent ownership interest as required by California’s community property laws.

What are some tax considerations in a divorce?

As you probably know, California is a community property state. This means that if and when you and your spouse divorce, each of you is entitled to 50 percent of your marital assets. How you go about dividing up those assets, however, and the manner in which you do it, could have negative tax consequences for one or both of you.

What is the acceptance of benefits doctrine?

If you face an impending California divorce, you may wish to familiarize yourself with the acceptance of benefits doctrine. Why? Because it could impact if and to what extent you may be able to modify your court-approved property settlement agreement after your divorce.

Who gets the retirement accounts in a divorce?

When you divorce in California, the pensions that you and your spouse own can be more valuable than all the other assets you acquired during your marriage. As Reuters reports, dividing up these retirement accounts is tricky at best. If you fail to do it properly, you and/or your spouse could face thousands of dollars in taxes and penalties.

Understanding community property

A number of people in California and throughout the United States end their marriage by filing for divorce. During the process, they are forced to separate their marital items, or the property and finances they accumulated during the time they were married. When considering this marital or community property, most people think of the family vehicles, homes, furniture and the money in the savings account. There are, however, many other marital items that divorcing couples may not think of. Some of the property and assets that often get overlooked could total a considerable amount of money.

Bitcoin: hiding assets electronically

At the Law Office of Lily L. Huang in California, we sympathize with you if you strongly suspect that your spouse is attempting to hide marital assets from you so that (s)he will obtain a better property settlement than (s)he would if your family’s true financial situation were known. While suspicious spouses have struggled for years to discover and document hidden assets, today’s technology makes it even more difficult to do so. Are you aware of Bitcoin?

How a prenuptial agreement can save future heartache

At the Law Office of Lily L. Huang in California, we know how difficult it is for you when your marriage breaks up. You and your spouse may have widely differing opinions regarding child custody and support issues, spousal support issues, and property settlement issues. Often our clients say they wish they had signed a prenuptial agreement before their marriage because it likely would have made their property division considerably easier and less contentious than it is today.

Complications of property division

Dividing property may sound easy: "I'll take the house. He can keep the cars." When a family has shared life in and through that property, though, deciding who gets to keep what can be tricky. California families would do well to remember assets are often not simply property; instead, they include the meaning attached to that teapot or framed portrait. 

How Can I Help?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy