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	<title>Law Offices of Evan Braunstein &#187; Community Property</title>
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	<link>http://www.evanbraunsteinlaw.com</link>
	<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>
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		<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>
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