Frequently Asked Questions

FINANCIAL ISSUES

Q. I think that my ex-spouse might be hiding assets from me, is there anything that I can do to ensure I get my fair share?

A. In any California dissolution, both parties are required to disclose all their assets and debts, income and expenses.  At the beginning of their case, they must complete and exchange Preliminary Declarations of Disclosure.

We have extensive experience in valuing complex and unusual assets, including businesses and professional practices.  We also are ingenious locating undisclosed assets and obligations, and finding undisclosed income, using formal discovery tools, including subpopenas, depositions, and forensic accounting.

Q. What if my spouse should be working, but isn’t, or has reduced his income intentionally?

A. If one party is intentionally reducing income or has quit his/her job in an attempt to avoid paying support, the court may “impute”  income to a party.   It will be necessary to show the coiurt what that party could or should be earning.

Q. My spouse has incurred debt during the marriage, will I be responsible for it?

A. California is a community property state.  All assets and debts acquired, earned or incurred during marriage are presumptively to be shared equally between both parties.  There are exceptions to this rule. Depending on what the debt was used for, it may not be treated as a joint obligation.

Student loans during a marriage, for example, are generally allocated to the spouse receiving the education they paid for, without division.

 

If you have any additional questions on financial issues feel free to contact us at info@gslo.net