310.956.4600 [email protected]

Handling Financials Holdings

From IRAs to even 401k plans, it is important to understand how big of an asset they are when it comes down to a marriage and filing for its divorce. Now, in most cases, thet are to be treated as any other asset presented in a divorce case, but generally, they are to be considered as community property and must be divided fairly among the spouses.

This process does take a few additional steps however, as a QRDO is needed to fully divide each spouse’s financial holdings. This can be approved by the courts once finalized.

Handling Spousal & Child Support

Generally, the most common agreements tend to lead to the support of the spouse and children if they are involved. This is not mandatory here in the state of California as the courts have considered certain exceptions and leeway’s when deciding as to how much and when should a spouse provide support for the other.

When it is requested, a calculation is usually presented and approved by the courts in their final decisions and judgments, but can be modify should the other spouse request it.

In the case of child support, however, then there are a few more contingencies placed. Usually under California law, the calculation is usually dictated by a formula established by the California Family Codes, and provides an expected pay amount from the spouse who is requesting it. The state then takes this into account along with the financials of each spouse as part of the formula.

Additionally, the amount of time each parent spends with their child is taken into consideration during the process, and it’s one of the many reasons why child support often is complicated and takes more time to request and process. It also may not be as a accurately as times, as often the case, the parent can fall behind on payment or completely disregard their obligation to paying, in which case, the courts can provide an order to compel the parent to pay.

Farbod Majd Esq.
Divorce Attorney w/ offices in Beverly Hills/Los Angeles
Services in English, Turkish, and Farsi/Persian (Iranian/American Lawyer)
8383 Wilshire Blvd Suite 646, Beverly Hills, CA 90211
310.956.4600 | Fax: 310.878.8989 | [email protected]