Archive for August, 2010
Friday, August 20th, 2010
The division of assets and debts in a California divorce depends on their character. Giving assets and debts a “character” sounds quite odd. But how assets and debts are labeled ultimately determines who gets to keep what, and who is responsible for what.
Under California Family Code section 910 the community (meaning both spouses) is liable for all debts incurred during the marriage and prior to separation. It does not matter whether the debt was incurred by one spouse for his or her own benefit or for the family. It also doesn’t matter whose name appears on the bill or the credit card statements. If the debt was incurred during the marriage and before separation, it is a community debt and both spouses are equally liable. Debt incurred after separation may be either community or separate debt, depending on the circumstances. (more…)
Posted in Divorce
Friday, August 20th, 2010
One would think that the spouses with assets worth millions of dollars would have entered into an iron-clad prenuptial agreement for dividing those assets if there was ever a divorce. However, even seemingly iron-clad agreements are often challenged in California divorce cases involving well-to-do spouses.
Grounds for Challenging a Prenuptial Agreement
The method for challenging a prenuptial is to demonstrate that it is defective in some manner and therefore should not be enforced. This is never an easy undertaking, because much of the evidence will be disputed testimony about what each spouse said or did, or did not say or do – facts that are very difficult to establish without other supporting evidence. The dispute typically centers on whether the prenuptial agreement was revoked, amended, or invalid from the start because it was entered into as a result of fraud or duress. (more…)
Posted in Alimony / Spousal Support, Divorce, Marriage, Premarital agreement
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