separate property

Join us as we sit down with California Family Law Attorney, Joseph Willmore, to discuss the most important differences between Oregon and California divorce laws. In this interview, Joseph answers the following:

• Is California a Community Property state, and what does that mean for my divorce?
• Can a California divorce deal with out of state property?
• What happens to separate property in a California divorce?
• What are the residency requirements in California?
• How does California calculate spousal support?
• Does California distinguish between short-term and long-term marriages?
• Is a legal separation the same as divorce in California?
• When might California courts consider fault in a divorce?
• ...and much more!

If you would like to speak with one of our family law attorneys, please call our office at (503) 227-0200, or visit our website at https://www.pacificcascadelegal.com.

To speak with Joseph regarding your California family law matter, you can contact him via his website: https://www.willmorelawfirm.com/

Disclaimer: Nothing in this communication is intended to provide legal advice nor does it constitute a client-attorney relationship, therefore you should not interpret the contents as such.

While the connotation may be that a prenuptial  agreement is negative, a sign of greed or a set-up for failure, they are no different than getting auto insurance for your car. You don't plan on having an accident, but you certainly want to be covered in case you do. Torrance, California-based attorney, Sandy Roxas, gives us her insight on: why pre-nups are important to have even when money and real property aren't involved, how separate property (including your business or intellectual property) becomes community property once married, thinking forward, having the tough conversations, talking finances (debt becomes community property, too, without a pre-nup), separate accounts don't protect you, keeping earnings separate and having a joint account, knowing what your partner's finances are (even if you have to run a credit report), stay-at-home parenting, amending a pre-nup or doing a post-nup, taking out the romance, co-habitation agreements (for those not getting married), having a pre-nup tends to make divorce and co-parenting easier, hiding things from your partner, obligations, a new spouse's income can affect child support and/or alimony without a pre-nup and keeping earnings separate, financial transparency is important, choosing the right spouse, entrepreneurial debt, the give and take, balanced instead of equal, financial abuse, having access, red flags, The Joy Luck Club, not being stuck, bad math, being able to walk away, being in a relationship because you want to be, not because you have to be, independence is a good thing, fertility and embryos, and please do the pre-nup sooner than later (don't force it in right before the wedding).

You can reach Sandy Roxas at https://roxaslaw.com/

Episode recorded on 02/27/21

Episode released on 04/07/21

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2020 has created a unique situation for engaged couples. Given social distancing concerns, many have decided to postpone their weddings. But if your relationship is ready, would you be better off getting married this year anyway? In this episode, Trishul and Aaron explore the intersection of tax planning and getting married. They discuss the impact of different tax brackets, the marriage incentive or marriage penalty, and community property versus separate property states. They then highlight estate planning concerns, which can also depend on where you live. Your relationship should still be the defining factor in whether to get married. But it is worth understanding some vital tax effects beforehand. With solid planning, you might even save enough to cover the cost of your honeymoon.

Episode References

MMS #32. These estate planning tips can save you big time.
Why does the government incentivize marriage?
Marriage Tax Changes
Investopedia - What to consider before marrying
Investopedia - Prenup
Community vs. Separate Property
Tenants In Common
MacKenzie Scott - World's richest woman
Tax Brackets

Podcast Description

Welcome to The Mind Money Spectrum Podcast where your hosts Aaron Agte and Trishul Patel go beyond traditional finance questions to help you explore how to use your money to achieve the freedom you want in life. Aaron is a Financial Planner from the Bay Area, and Trishul is a Wealth Manager on the East Coast. For more information about Aaron, check out GraystoneAdvisor.com. And for more information on Trishul check out InvestingForever.com. We thank you all for listening, and stay tuned for our latest episode on our website, MindMoneySpectrum.com.

Aaron Agte and Trishul Patel go beyond traditional finance questions to help you explore how to use your money to achieve the freedom you want in life. Aaron is a Bay Area Financial Planner with GraystoneAdvisor.com, and Trishul is an East Coast Wealth Manager (InvestingForever.com). MindMoneySpectrum.com and YouTube.

In this episode, host Julia speaks to Family lawyer Stephanie Ambler about the law on Relationship property.  What to do if you get into a new relationship, what is separate property vs relationship property, when and how separate property can become relationship property, pre-nup agreements, enduring power of attorney and more!

In this episode, Ms. Rosensweig discusses the bizarre case that came out of Michigan, where a man has been ordered to share about 40% of his lottery jackpot with his ex, two years after SHE filed for divorce and after they had been separated for 4 years.  How did this happen?  Is this how the law typically works?  What does this case tell us about protecting assets during the time between a couple separating and the divorce being finalized?  Ms. Rosensweig explains this and more in this episode.  If you, or someone you know, is contemplating a divorce, this episode is for you!