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Fullerton Family Law Blog

Why couples should hold joint credit cards

Getting married should be one of the most exciting times in life. It can also be very stressful. Aside from all the planning for the big day, you and your future spouse need to come to an agreement on quite a few important topics. These include having children, where you will live, how you will share holidays with in-laws and even how credit cards will be used or held. One important tip is that you should hold joint credit cards.

When one spouse of a marriage has a credit card in his or her name only, he or she is able to use it without the other spouse knowing. They might not use it for everyday items such as food, cleaning supplies or to pay bills. Instead, they might use it to make frivolous purchases. This debt can pile up fast and can cause a lot of resentment between the two spouses.

The end of summer visitation can signal adjustment problems

It’s that time of year again for many divorced parents across California and elsewhere. Now that summer is here, you are preparing to send your children to their other parents’ home for an extended visitation. Whether you are looking forward to the break or dreading such a long time without your kids, chances are you might have an adjustment period once they return.

Extended visitations during the summer are common in most custody arrangements when one parent has primary custody. Throughout the year, your ex might have every weekend or every other weekend with the kids. The longer visit is meant to help your children bond and have a stronger relationship with the parent they do not see as often. While you might see the logic in this arrangement, it can also be a pain if you and your ex do not see eye to eye in the way you teach and discipline your children. As a result, you might suffer through a few weeks of defiant, unruly behavior after they return from the other parent's home.

How you can make custody exchange safe and comfortable for all

Entering into a child custody agreement with the other parent of your children can be difficult. You might not want to relinquish care for your child or even share custody time with the other parent. But, the fact of the matter is that this is required by law should the other parent petition the court for custody. Here's how you can make the custody exchange safe and comfortable for all in Fullerton, California.

You need to come to an agreement on when the exchanges will occur. Pick a day and stick with it. Also pick a time and do not be late. This will help everyone get into a rhythm and make the children feel more comfortable each time they go from one parent to the other.

Explaining how alimony is affected by tax reform

The alimony deduction will be affected by tax reform. What does this mean for you as a recipient of alimony? What does it mean for you as the payor of alimony? There are some very important items you need to know regarding tax reform and how it affects your ability to deduct alimony on your tax return. We will take a look at the requirements in today's post so you know if you are eligible to list the payments as a deduction in California.

The requirements prior to tax reform for deducting alimony on a tax return are as follows:

  • The spouses cannot file a joint return
  • The payment must be made in cash form, which includes checks and money orders
  • The payment has been made to a current or former spouse and is part of a divorce or separation agreement
  • The aforementioned agreement does not name the payment as not being alimony
  • The spouses cannot be living in the same household when the payments are made
  • There is no liability present, either in property or cash, to make the payments after the death of the spouse receiving the payments
  • The payment cannot be used as a settlement on property or as child support

How can I control my finances following a divorce?

Getting a divorce is never easy. Even the couples that knew their marriage was over might have had trouble admitting that it was time to cut ties with each other. One of the most challenging parts of returning to the single life is managing your finances. You might have been in charge of the money when married or it might have been your spouse. Either way, there is a new budget to work with now in Fullerton, California.

You need to figure out a plan for short-term cash flow when getting divorced. You will need to continue paying your bills, the mortgage, fees for your child's education and more. All of this will have to come from a separate financial account as most joint accounts will be frozen during the divorce process. If you cannot come up with a cash flow plan you could jeopardize quite a bit.

Tips for asking someone to be your child's guardian

If you are putting together your estate plan, which includes your will, you are going to have to choose a guardian for any minor children. This can be a difficult process, especially if you are worried about hurting the feelings of a family member or friend if you do not choose them. You will want to choose someone you trust and someone whom your children love. Once you make the decision, here are some tips for asking that person to be the guardian of your children.

This should be a private conversation. Do not have it in a restaurant or in front of other family members or friends. If it is a single person, be sure to have him or her over for dinner one night. Do not have the conversation in front of your children either. This will only cause them to worry that you might be going somewhere.

Do not forget about retirement accounts in divorce

When you are getting a divorce, your main concerns are probably giving up possessions and figuring out custody of your children. Retirement accounts are probably not one of the main things you are stressing out about. However, the nest egg may represent a significant portion of your marital money. 

These assets are worth fighting for, but you must approach them properly. If you do not divide retirement accounts correctly, you may get hit with hefty penalties and taxes. Here is a quick guide for splitting workplace plans and individual accounts.

Is it possible to marry and keep property separate?

Many people who are headed for a walk down the aisle wonder if they can get married and still keep their property separate. For starters, there are no rules or laws out there that force married people to combine their separate property into marital property. The decisions are made by the couples as a couple. Here's some more information about keeping property separate in a marriage.

When it comes to money, you can do whatever you please with it so long as you've discussed this with your spouse. Many professionals recommend that each spouse keep his or her individual bank accounts open, or at least one of them, while also opening a joint account with his or her spouse. This will help both parties should the marriage end in divorce.

Man issues guilty plea to massive bill of child support

A man who has been running for decades from paying child support has finally pleaded guilty to the bill, which totals more than $550,000. The suspect issued his guilty plea in United States District Court in Grand Rapids on May 7. The plea was in response to an indictment that said the man did not pay child support back in 1998. The suspect was apprehended in Canada living under an assumed name.

Because he entered a guilty plea, the suspect could face no more than two years in prison and one year of supervised release. In place of this sentence he could face a fee of $250,000. The man will also be required to pay complete restitution, which is required by the law. That means the man will need to pay $559,000 in back child support.

Common uses for spousal support payments

Spousal support is a common part of divorce in California. It is also known as alimony and is only paid by one person to the other person. It can be ordered by a court or it can be agreed upon by the divorcing couple and recorded in their arrangement. Once it is finalized, it will need to be followed or else the parties could find themselves in court. Here are some common uses for spousal support payments:

If you are renting a place, it's best to use the spousal support payments to pay the rent. This is likely your biggest expense. Put these payments to good use right away and pay the rent. Make sure you put aside enough each month from the payments to cover the rent.

Contact

Law Offices of Indu Srivastav, APLC
1400 N. Harbor Blvd., Suite 601
Fullerton, CA 92835

Phone: 714-515-5008
Fax: 714-515-8338
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