The Law Offices of Steven M. Bishop, Attorney at Law, A California Corporation
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Posts tagged "San Diego Divorce Attorney"

DO INSURANCE POLICIES QUALIFY AS COMMUNITY PROPERTY?

California is a community property state. What this means is that (generally) all property acquired by either spouse during the marriage is deemed to be jointly owned by both. Generally, if a life insurance policy has been purchased by one party using "community funds" (i.e., joint funds) during a marriage, it will be considered to be a community asset or community property in the case of divorce. Similarly, the surrender value of a life insurance policy purchased with community funds may be considered community property in California. If a life insurance policy is purchased prior to marriage using separate funds, the policy will generally be considered an individual asset and not community property.

IS SEVERANCE PAY A COMMUNITY ASSET?

Going through job loss can be an incredibly stressful time in an individual's job losses and the resulting economic pressures can sometimes result in a divorce. If you are facing divorce and have been recently laid off and received severance pay from your former employer, you need to be concerned about whether severance pay is considered a community asset subject to marital division upon your divorce. For over 40 years, the Law Office of Steven M. Bishop has been assisting San Diego area residents navigate the complex legal system and divorce laws.

WHO KEEPS THE RING (AND OTHER GIFTS) IF AN ENGAGEMENT IS CALLED OFF

When you have found your soul mate and you plan to get married, most couples will purchase an engagement ring to memorialize their relationship and their road to marriage. Sometimes the ring will be purchased by one party and sometimes it is a joint purchase made with joint funds.

IS IT TOO LATE FOR A POSTNUPTIAL AGREEMENT?

Postnuptial Agreements may be less common than prenuptial agreements but can be just as important a tool in protecting your wealth, property, heirlooms or other important assets. If you are already married and do not have a Prenuptial Agreement, you may mistakenly believe it is too late to protect your assets or property. The good news is that it is never too late for a nuptial agreement!

COMMON WAYS PARTNERS CONCEAL WEALTH AND INCOME FROM EACH OTHER

In the divorce process one of the most important things to establish is an accurate and complete inventory of assets for each party to ensure all marital assets (and some assets purchased prior to the marriage, depending on agreements and law) can be fairly separated and divided. Unfortunately, many divorcing couples harbor ill-will towards each other, and do not want to divide property and assets equally or fairly. Some former spouses feel they are entitled to certain assets and to ensure they secure those assets they attempt to conceal them from each other and the Court.

CALIFORNIA COURTS CONSIDERATION IN MAKING CUSTODY AWARDS -- A CHILD'S PREFERENCE

If you are a parent who is considering divorce, facing divorce or in the middle of a divorce proceeding, your child and their well being is likely one of your top priorities and concerns. Many children, especially older children, will express a custody preference by telling one or both of their parents where they would prefer to live. Traditionally, courts did not take into consideration the preference of minor children when awarding custody to a parent. However, recently Family Courts have begun to shift that position and are now proactively investigating the custody preference of minor children of divorcing parents.

WHAT HAPPENS TO YOUR BUSINESS IN DIVORCE?

Many business owners are justifiably concerned about what will happen to their business in the event of their divorce. You have poured your heart, money, resources and time into your business and you may be concerned in the event of a divorce you will automatically lose half of everything you have worked so hard to build. For almost four decades, the Law Office of Steven M. Bishop has been assisting business owners through divorce and other family law matters and ensuring all assets of the parties are divided in a fair and equitable manner.

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