A person who files for Chapter 7 bankruptcy will need to liquidate all nonexempt assets and use the money raised to pay creditors. Typically, a liquidation bankruptcy case in California is completed in about four to six months. Those who wish to file a Chapter 7 case...
Family Law
Chapter 7 and Chapter 13 personal bankruptcies
The bankruptcy code provides two debt relief options to California residents who are struggling to cope with unmanageable financial situations. Chapter 7 bankruptcies are often referred to as liquidation bankruptcies while Chapter 13 petitions are commonly called...
How a prenup may help business owners in divorce
Business owners in California may want to consider a prenuptial agreement to protect their company. A prenup can establish the value of the business at the time of the marriage to help ensure that only value gained during the marriage is subject to division in case of...
Divorce over 50 takes a big toll on finances
It's not uncommon today for older California couples to end a marriage. The divorce rate for Americans 50 and over has doubled since 1990. Amazon founder Jeff Bezos, who is over 50, came through his divorce relatively unscathed financially. Other individuals, however,...
Can Chapter 7 bankruptcy get rid of your debt?
If you struggle with debt, you may not know where to turn. Sometimes, budgeting and negotiating with your creditors does not work out. As your bills pile up and your credit score tanks, you may need to think about declaring bankruptcy. Bankruptcy is an...
Post-divorce care for children
Parents in California who get a divorce should make every effort to make the process as easy on their children as they can. It is also important that they take action to protect their children after the divorce is finalized. Children should not be subjected to one...
Reasons to co-parent
Parents in California who decide to go their separate ways may be apprehensive about what raising children with an ex will be like and if it will work. However, a successful co-parenting relationship can yield beneficial results for all parties involved. Ex-spouses...
Talking about child-related expenses after divorce
When California couples get divorced, they will still have to deal with each other occasionally if they have children, especially if their kids are younger or still in school. Even if parents are able to agree on how to share their time with the children, dealing with...
Dividing retirement funds during divorce
When people in California decide to divorce, the financial implications can be serious and long-lasting. This is especially true at the end of longer marriages where large assets like retirement funds are divided. As a result, people may have to make significant...
A look at student loan debt and the divorce process
A divorce in California involves the division of the spouses' marital assets and debts. Although the state views marital assets as community property that should be divided equally upon the dissolution of marriage, family law carves out some special rules for student...
