In California, families may have a wide range of financial arrangements. Some couples may have a primary earner and a stay-at-home parent; in other cases, both partners work at a job outside the home. Despite the advances made over the years in terms of women's achievement in the workplace, many people still expect that in a marriage, the husband will be the higher earner of the pair. These kinds of social expectations can have damaging effects: One study indicates that couples in which the wife earns more than the husband are one-third more likely to divorce.
In a community property state like California, a stay-at-home parent is entitled to an equal share of the marital assets in a divorce, even if that parent has never worked outside the home. The value of each spouse's contribution may be weighed in deciding how to divide assets. However, it can be difficult to put a monetary amount on the contributions of a stay-at-home parent.
As roughly half of all marriages in California end in divorce, it's important that couples think about what they'll do if their relationships don't work out. This is especially important in regard to jointly owned real estate.
As cryptocurrency becomes a more popular investment for people in California and across the country, it is also becoming a growing issue in a divorce. Bitcoin was launched in 2009, but the values of cryptocurrencies have soared in recent years as have the different types of coins available on the market. In many cases, cryptocurrency holdings can become a significant factor in high-asset divorces as one of many valuable items of property to be divided. Some people have also alleged that their former spouses are using cryptocurrency technologies to hide assets from family court.
After widespread media reports in California and across the country, Donald Trump Jr. and Vanessa Trump confirmed that their divorce had been finalized after pending for a year. In a joint statement released on Feb. 22, the former spouses said that after 13 years of marriage, their divorce had been made official. They also said that they were committed to working together to co-parent their five children.
The 1st District Court of Appeal overturned previous rulings in a child support modification case brought by a man whose income placed him among top earners in California. The original decision excluded his stock options from income and granted an exemption to Family Code Section 4057(b)(3). That section normally directs courts to base child support amounts on parental income but allows exceptions for people with very high income if the amount would exceed what the children need for support.
Many people in California and throughout the country have heard about the Jeff Bezos divorce story. The Amazon CEO is estimated to be worth $147 billion, and he and his wife did not have a prenuptial agreement. This means that their joint assets will probably be split as equally as possible under Washington's community property rules. As a general rule, the goal is to create a fair division of assets even if the split isn't exactly 50/50.
Last year saw many things. This includes a wide range of married celebrity couples announcing that they had decided to go their separate ways.