Financial Inequalities

How to Address Financial Inequalities in a Divorce

Divorce can be a difficult process, especially when there are financial inequalities between the two spouses. In such cases, it is essential to ensure an open and honest exchange of information so that both parties have a clear understanding of the finances. In most families, one spouse may have more knowledge and skill regarding the…

Dividing Inherited Assets in a Divorce

If you inherited property, money, stocks or other assets either before your marriage or during it, the inheritance, whether cash, real estate, family heirloom, or anything at all, is your separate property. If you kept the asset separate, for example, put the inherited money in a separate bank account belonging only to you, it remains your…

How a Pre-Marital Agreement Protects Finances

Not every couple needs a prenup or pre-marital agreement. For example, two people getting married out of college who have not accumulated any real assets and never been married before, do not need a prenuptial agreement. On the other hand, couples getting married for the second or third time and who have children from previous…

Tax Issues in California

Tax Issues in a California Divorce

When divorcing couples are discussing spousal support in California, they need to be aware of the tax implications of their divorce. Federal laws enacted by congress and enforced by the Internal Revenue Service (IRS) are different than laws enforced by the California Franchise Tax Board (FTB). Spousal Support and Taxes IRS rules. Under federal law,…