Gumm & Green, LLP, Attorneys at Law
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April 2018 Archives

The difference between a Chapter 7 and a Chapter 13 bankruptcy

If you are a California small business owner and are considering filing for bankruptcy, you may have heard the terms “Chapter 7” or “Chapter 13,” but you may not fully understand the difference between the two types of bankruptcy filings. Even if you do have a general idea of the difference between the two bankruptcy processes, you may not know whether both types are available to you, and if they are, which one might be a better option.

Bird nesting

The citizens of California are no strangers to the turmoil that comes with ending a marriage. Unfortunately, for many couples, divorce is a necessary reality that not only hurts them but also has the potential to harm their children. Consequently, couples on the verge of separating strive to come up with solutions in order to make the whole affair easier for everyone involved.

Lack of financial knowledge could lead to problems in divorce

Older couples are twice as likely to get a divorce than the same age group was in the 1990s. For people in California who have not been involved in managing the marital budget, it could be the first time in decades or even a lifetime that they have had to make financial decisions.

The divorce mediation process

California couples have the option of using divorce mediation in lieu of traditional divorce litigation. With mediation, the divorce process will be less expensive and take less time. Furthermore, each spouse could have greater control over the final agreement.

Tips for divorced parents to help children adjust

Parents in California who are going through a divorce may make the process more or less difficult on their children by following certain steps. They should keep a conversation going with their children to make sure they do not feel they are to blame for the split and to support their relationship with the other parent.

What are some pitfalls of rushing through a high-asset divorce?

One mistake that is common in Westlake Village area high-asset divorces is rushing. If you are getting ready to file for divorce and there is a large amount of wealth and assets involved, you cannot afford to make hasty decisions without considering the consequences. 

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