What does equal division mean?

/

If you take your case to court, the Family Code requires an equal division of assets and debts. 

There are two types of equal division that a Court will use to divide community property- both assets and debts.  

In Kind Division - Is when the Parties divide the asset in two (stock, cash).

Asset Distribution - If the property is something that cannot be divided one side will get an asset of equal value or cash. Examples include - houses, stock portfolios, lines of credit.  

Here is a sample equalization chart. Spouse 1 takes on the credit card debt and has to give Spouse 2 a $50,000 payment so that both Spouses are equal at the end of the day.

What is a Lis Pendens?

/

A Lis Pendens or Notice of Pendency of Action prevents the opposing side in your divorce from encumbering real property in violation of an Automatic Temporary Restraining Order. 
Do you need a Lis Pendens? Only if you have real property that you think may be encumbered during a divorce.


To issue a Lis Pendens, you will need to a the Notice of Pendency of Action with the Court Clerk and then Record that Notice at the County’s Recorder office.  Here are some requirements, a Lis Pendens: (1) must be served on the other party, (2) must be identified in the pleading, (3) must be released at the end of the case. 

  

How do I calculate the length of our marriage?

/

There are two different dates to pay attention to when you calculate the length of your marriage.   


Are you trying to calculate the length of marriage for social security benefits or spousal military benefits?
For federal benefits, the date of marriage is measured from the date of marriage to the date of termination of status (the date your divorce decree is finalized).

Are you trying to calculate the length of marriage for spousal support and separate property?
California uses the date of separation as the date for the end of marriage to measure spousal support and the date on which all earnings become separate property.

 

What are Financial Disclosures in Divorce?

/

What is a Declaration of Disclosure?
California divorce law is designed to protect the transparent exchange of financial information in a divorce.  Thus, both parties must exchange full financial disclosures before a divorce can be finalized.


Will my tax returns, pay stubs, and bank accounts be public record?
Generally, no.  California law requires that each party serve his or her declarations on the other party but that these declarations are not filed with the Court.  Family Code Section 2104.  While the declarations do not need to be filed, the Court does require a proof of service that the declarations have been exchanged. 


When do I need to give the other side my financial documents?
California law requires that parties exchange financial documents within 60 days of a Petition or Response. However, this requirement can be waived by mutual agreement of the Parties.