What is “Abandonment”?

[Ed: Originally published on Facebook.] What is “abandonment”? Some people are afraid to leave the marital home because they don’t want to be accused of having “abandoned the marriage”. It is true that in many jurisdictions, proving that one spouse “abandons” the marriage or “deserts” the other spouse prevents the abandoning spouse from claiming alimony. However,…

Mechanics of Property Division

[Ed: Originally published on Facebook.] This week we’ve been looking at examples of property division. I want to shift a little bit and talk about the mechanics of property division. As a starting point, assume every division of property – that is, every instance of one spouse transferring any property to the other spouse – carries…

Property Division: “Equitable” Does Not Always Mean “Equal”

[Ed: Originally published on Facebook.] Yesterday we looked at a fact pattern that shows how a court can make “equitable” awards of property that are not necessarily “equal”. Yesterday’s example was based on each party’s current ability to pay. Today we will look at a common fact pattern which involves different time horizons. Let’s say the…

Equitable Division of Property

[Ed: Originally published on Facebook.] Yesterday we looked at “community property”. Today we will look at the property division scheme in effect in most jurisdictions: “equitable distribution” (or “equitable division”). The key word, of course, is “equitable” – which does NOT necessarily mean “equal”. For many judges, they will start out presuming an equal division is…

Division of Community Property

[Ed: Originally published on Facebook.] This week we’re going to take a closer look at property division laws. There are basically two types of property division schemes – “community property” (“CP”) and “equitable distribution”. Knowing these rules is important because you need to be able to make reasonable assumptions about what the judge can or might…

Do You Have a Tax Accountant?

[Ed: Originally published on Facebook.] *GULP* Tomorrow is April 15 – tax day! Oh no! Are you prepared? A tax accountant is a great advisor to have on your team. Maybe your tax picture is pretty simple – you earn a regular salary, put a little in your 401(k), pay your bills, nothing exotic. But you…

Do You Have a Financial Planner?

[Ed: Originally published on Facebook.] The theme this week is “teamwork”. Who is on your team? If you’re following the “Your Post-Divorce Compass” process, on Day 23 you’ll start looking for a financial planner. Do you really need a financial planner? I mean, do you really need someone to tell you “put some money in savings…

Review: “elf”

Proud of this 5-star review from “elf” on Amazon: Divorce is heck. That’s a nice way of putting it. It affects people emotionally, psychologically, intellectually, socially, financially and even physically. There are resources out there to help with many of the support areas, but those getting divorces generally turn to their attorneys for help in practical matters….