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	<title>Law Offices of Evan Braunstein &#187; Division and Valuation of Property</title>
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	<description>Family Law</description>
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		<title>Hidden and Overlooked Assets in Divorces</title>
		<link>http://www.evanbraunsteinlaw.com/hidden-and-overlooked-assets-in-divorces/</link>
		<comments>http://www.evanbraunsteinlaw.com/hidden-and-overlooked-assets-in-divorces/#comments</comments>
		<pubDate>Wed, 17 Feb 2010 20:11:23 +0000</pubDate>
		<dc:creator>Evan</dc:creator>
				<category><![CDATA[Division and Valuation of Property]]></category>
		<category><![CDATA[Community Property]]></category>
		<category><![CDATA[division of assets]]></category>
		<category><![CDATA[Family Law Discovery]]></category>

		<guid isPermaLink="false">http://www.evanbraunsteinlaw.com/?p=1137</guid>
		<description><![CDATA[In a recent blog post  <a href="http://www.gafamilylawblog.com/2007/06/your-spouses-hi.html"> "Your Spouse's 'Hidden' Assets - A Checklist"</a> mentioned in the <a href="http://www.scfamilylaw.com/2010/02/articles/assets-and-debts-/checklist-of-hidden-or-easily-overlooked-assets/">South Carolina Family Law Blog</a>, Georgia Family Law Attorney Steve Worrall provided a useful and extensive list of assets that are often overlooked or hidden in divorces and legal separations.  In California, all assets acquired during marriage by either party are presumed to be community property.  It is important that prior to the <a href="http://www.evanbraunsteinlaw.com/division-and-valuation-of-property/">division of property or property settlement</a> in a family law case, all valuable assets are identified and located. The list of assets below is not exhaustive, but is a great tool for litigants and attorneys alike.]]></description>
			<content:encoded><![CDATA[<p>In a recent blog post  <a href="http://www.gafamilylawblog.com/2007/06/your-spouses-hi.html"> &#8220;Your Spouse&#8217;s &#8216;Hidden&#8217; Assets &#8211; A Checklist&#8221;</a> mentioned in the <a href="http://www.scfamilylaw.com/2010/02/articles/assets-and-debts-/checklist-of-hidden-or-easily-overlooked-assets/">South Carolina Family Law Blog</a>, Georgia Family Law Attorney Steve Worrall provided a useful and extensive list of assets that are often overlooked or hidden in divorces and legal separations.  In California, all assets acquired during marriage by either party are presumed to be community property.  It is important that prior to the <a href="http://www.evanbraunsteinlaw.com/division-and-valuation-of-property/">division of property or property settlement</a> in a family law case, all valuable assets are identified and located. The list of assets below is not exhaustive, but is a great tool for litigants and attorneys alike.<br />
1.	Frequent flyer mileage<br />
2.	Security deposits (e.g., utilities, car lease)<br />
3.	Timeshare property<br />
4.	Leased vehicles, cell phone, other items<br />
5.	Stock options<br />
6.	Memberships (e.g., country club)<br />
7.	Bond or deposit for country club<br />
8.	Unused vacation, sick leave<br />
9.	Patents, copyrights, royalties<br />
10.	Income tax refunds<br />
<span id="more-1137"></span> 11.	Income tax capital loss carry-forwards<br />
12.	Income tax charitable contribution carry-forwards<br />
13.	Marketable govt licenses (radio licenses, commercial fishing quotas)<br />
14.	Special retirement benefits (“golden parachutes”)<br />
15.	Retirement &#8211; life insurance benefits<br />
16.	Retirement &#8211; medical benefits<br />
17.	Retirement &#8211; survivor benefits<br />
18.	Hobby or other collections<br />
19.	Contract rights from marital employment (e.g., insurance renewal payments for agent)<br />
20.	Affiliation “rewards” programs (e.g., points or discounts for credit card use)<br />
21.	Entertainment tickets, season ticket options<br />
22.	Business vehicle for personal use<br />
23.	Prepaid rent, leases, subscriptions<br />
24.	Burial plots<br />
25.	Life insurance cash surrender value (or perhaps death benefit if insured is elderly)<br />
26.	Tort, worker’s comp claims<br />
27.	Stock options<br />
28.	Hangar lease (for aircraft)<br />
29.	Hotel or credit card points<br />
30.	Cash<br />
31.	Small business retained earnings<br />
32.	US Savings Bonds, other securities<br />
33.	“Hidden value” items &#8211; rare items of personal property (e.g., antiques), rare pets, collectibles<br />
34.	Options to purchase property<br />
35.	Unpaid commissions on deals set to close<br />
36.	Referral fees (e.g., for personal injury lawyers)<br />
37.	Security or performance bonds posted<br />
38.	Car insurance prepaid<br />
39.	Taxes prepaid</p>
]]></content:encoded>
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		<title>Bifurcation and Bifurcated Divorces in an Economic Downturn</title>
		<link>http://www.evanbraunsteinlaw.com/bifurcation-and-bifurcated-divorces-in-an-economic-downturn/</link>
		<comments>http://www.evanbraunsteinlaw.com/bifurcation-and-bifurcated-divorces-in-an-economic-downturn/#comments</comments>
		<pubDate>Tue, 24 Mar 2009 07:02:11 +0000</pubDate>
		<dc:creator>Evan</dc:creator>
				<category><![CDATA[Division and Valuation of Property]]></category>
		<category><![CDATA[Filing for Divorce]]></category>
		<category><![CDATA[Bifurcation]]></category>
		<category><![CDATA[Date of Separation]]></category>
		<category><![CDATA[Divorce in a Bad Economy]]></category>
		<category><![CDATA[Status-Only Divorce]]></category>

		<guid isPermaLink="false">http://www.evanbraunsteinlaw.com/?p=827</guid>
		<description><![CDATA[In a divorce proceeding, bifurcation is the division of the divorce into into two or more parts.  In California, bifurcation is governed by California Family Law Code Section 2337. There are two types of bifurcation.  In the first, the parties bifurcate the divorce by severing the issue of marital status from all other [...]]]></description>
			<content:encoded><![CDATA[<p style="text-align: justify">In a divorce proceeding, bifurcation is the division of the divorce into into two or more parts.  In California, bifurcation is governed by <a href="http://law.onecle.com/california/family/2337.html">California Family Law Code Section 2337</a>. There are two types of bifurcation.  In the first, the parties bifurcate the divorce by severing the issue of marital status from all other issues to obtain a &#8220;status-only divorce.&#8221;  In the second, the parties bifurcate a single key issue from the rest of the case, and have a mini-trial to resolve that key issue.  Both types of bifurcation can be especially useful to people getting divorced in today&#8217;s economic downturn.</p>
<h2>Bifurcation and Status-Only Divorces</h2>
<p style="text-align: justify">Certain parts of a divorce such as the <a href="http://www.evanbraunsteinlaw.com/division-and-valuation-of-property/">division and valuation of property</a>, <a href="http://www.evanbraunsteinlaw.com/child-custody-and-visitation/">child custody</a>, <a href="http://www.evanbraunsteinlaw.com/child-support/">child support</a> and <a href="http://www.evanbraunsteinlaw.com/spousal-support/">spousal support</a> can take longer to resolve than we would like.  This is equally true whether the parties are negotiating or are preparing for trial. They may bifurcate the issue of marital status and reserve the court&#8217;s jurisdiction over all other matters.  This can give them the peace of mind knowing that they are divorced, can move on with their lives, and can even remarry, while knowing that they will have the time necessary to properly resolve the other divorce issues.</p>
<p><span id="more-827"></span></p>
<p style="text-align: justify">A status-only divorce helps some people to resolve their more complex financial and custody issues in a detached and amicable manner, and helps save the emotional and financial costs of unnecessary litigation.  In today&#8217;s economic downturn, people are looking for ways to minimize the costs of divorce.  One way to do this, particularly there are issues that may require prolonged litigation or when one of the parties wants to remarry, may be a status-only divorce.</p>
<h2>Bifurcating the Date of Separation, Value of an Asset, and Other Key Issues</h2>
<p style="text-align: justify">The determination of a single issue may have an enormous impact on the outcome in a divorce.  For example, one of the factors that a California court must consider when determining spousal support is the length of the marriage.  The length of the marriage is the time between the date of marriage and the <a href="http://www.evanbraunsteinlaw.com/separate-separated-separation/">date of separation</a>.  If there is a disagreement over the date of separation, this can lead to litigation over the proper amount of spousal support.  If the issue of date of separation is bifurcated, a small trial is conducted where the court decides the sole issue of the date of separation.  The decision can provide the parties with enough information for them to resolve spousal support without going to trial.</p>
<p style="text-align: justify">Other key issues that are bifurcated for a separate trial include the characterization of an asset or debt as commuity property or separate property, and the value of an asset such as a home or a business.  In the present economy with real estate prices so far down, it is important to know how much income is in a family home before expending resources fighting over it.</p>
<h2>Consult with a Family Law Attorney about Bifurcation</h2>
<p style="text-align: justify">Bifurcating a divorce may have serious tax consequences.  It is not right for everyone.  It can effect your health care and retirement costs, benefits, and obligations.  If you are interested in bifurcation and you have a pending divorce , or if you are thinking about filing for divorce, <a href="http://www.evanbraunsteinlaw.com/contact-us/">contact a los angeles family law attorney for a free consultation</a>.</p>
]]></content:encoded>
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		</item>
		<item>
		<title>Separate, Separated, Separation</title>
		<link>http://www.evanbraunsteinlaw.com/separate-separated-separation/</link>
		<comments>http://www.evanbraunsteinlaw.com/separate-separated-separation/#comments</comments>
		<pubDate>Fri, 20 Feb 2009 07:15:19 +0000</pubDate>
		<dc:creator>Evan</dc:creator>
				<category><![CDATA[Child Custody]]></category>
		<category><![CDATA[Division and Valuation of Property]]></category>
		<category><![CDATA[Filing for Divorce]]></category>
		<category><![CDATA[Legal Separation]]></category>
		<category><![CDATA[Spousal Support]]></category>
		<category><![CDATA[Amended Petition for Dissolution]]></category>
		<category><![CDATA[Community Property]]></category>
		<category><![CDATA[Date of Separation]]></category>

		<guid isPermaLink="false">http://www.evanbraunsteinlaw.com/?p=751</guid>
		<description><![CDATA[Here are three legal terms that you should think about if you are thinking about filing for divorce:
Separate &#8211; Separate Property
One part of a divorce is the division of property.  California is a community property state.  All property obtained by either party during marriage is presumed to be community property and jointly owned [...]]]></description>
			<content:encoded><![CDATA[<p style="text-align: justify">Here are three legal terms that you should think about if you are thinking about filing for divorce:</p>
<h2>Separate &#8211; Separate Property</h2>
<p style="text-align: justify">One part of a divorce is the division of property.  California is a community property state.  All property obtained by either party during marriage is presumed to be community property and jointly owned 50/50, unless the acquisition of the property was the result of a gift or inheritance.  Any property acquired during marriage that can be traced to separate property is also separate property. All other property, including property that was acquired before marriage or after the date of separation is separate property.  Certain actions and/or agreements  <span id="more-751"></span>between the parties can transmute or change the character or the property from community property to separate property or vice-versa. Classification of marital assets as separate property or community property directly effects who gets what and how much.</p>
<h2>Separated &#8211; Date of Separation</h2>
<p style="text-align: justify">Normally, people consider themselves separated if they have left or been left by their spouse.  This can be when you are considering filing for divorce, waiting to file for divorce, or have already filed for divorce.  For California family law purposes, the date of separation is the date when either of the parties does not intend to resume the marriage. The date of separation is a precise date with important legal consequences.  First, all property obtained after the date of separation is separate property instead of community property.  Second, The date of separation, not the date of filing or the date of divorce is used to compute the length of marriage.  In some cases, the date of separation is so important that the divorce is bifurcated or divided into two cases, with a separate trial held first to determine the date of separation.</p>
<h2>Separation &#8211; Legal Separation</h2>
<p style="text-align: justify">Legal separation is an alternative to divorce.  In a legal separation, the custody, visitation, property and support issues are all resolved or decided by the court. The main difference between legal separation and divorce is that after a legal separation, the parties are still married. Legal separation is preferred to divorce in two types of cases. First, legal separation is useful for people who want an end to the marital relationship and want the court&#8217;s protection over property, support, and/or children but do not want to be divorced for various reasons.  Reasons for preferring legal separation include religious beliefs and maintaining health insurance coverage that requires the parties to be married. Second, legal separation is used by people who do not meet the residence requirements for a divorce in California.  Filing for a legal separation lets you request support, and property restraining orders before you could<a href="http://www.evanbraunsteinlaw.com/even-if-you-dont-live-in-california-you-might-still-be-able-to-hire-a-los-angeles-divorce-attorney/#more-724"> if you did not meet the six month state, or three month county residency requirements required for a divorce</a>.  A person can file for legal separation, and then once the residency requirements for dissolution are satisfied, amend the original petition for legal separation to a new petition for divorce, using the original petition&#8217;s filing date.</p>
<p style="text-align: justify">If you are thinking about filing for a divorce or a legal separation, you can <a href="http://www.evanbraunsteinlaw.com/contact-us/">call a Los Angeles family law attorney to schedule a free consultation</a>.</p>
]]></content:encoded>
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