The Basics on Who Gets Alimony, Assets, and Debt in a California Divorce
Posted on: May 7, 2021
If you are considering a California divorce, there are likely many questions you have. The best way to get an answer is to contact a divorce attorney by calling Law Office of Michael L. Fell at (949) 585-9055 . However, you can also keep reading to learn more about the basics: alimony, assets, and debt.
Alimony
Also known as spousal support, alimony is the amount of money paid from one spouse to another. How much it is, and whom it goes to, depends on a wide range of factors, including how long you were married, your income and the income of your spouse, and the standard of living that was enjoyed during the marriage.
If the marriage lasted less than a decade, then the courts generally award alimony for half of the duration of the marriage. If the marriage was longer than a decade, then the court will use a lot more leeway to decide how much is paid. Spousal support can be paid in a lump sum, or it can be paid monthly.
Assets and Debts
Splitting up assets and debt such as property, bank accounts, investments, credit card debt, etc., is fairly simple in California in most cases. It is what’s known as an “equitable distribution state,” which means that spouses divide everything that is marital property.
Generally speaking, the courts consider marital property to be anything that was bought or earned during the course of the marriage by either spouse. This does not include inheritances that one spouse got or gifts given to one spouse. It also does not include any property that was acquired before the marriage and that the spouses brought into the marriage. However, this is a simplified answer – the specifics can be more complicated, and you should talk to your attorney for more help.
The Ideal Situation Involves Coming to Agreements without Court Intervention
Ideally, you and your spouse can come to an agreement without the divorce having to go through litigation. If you must go to court, it will cost you more, and you will not be certain to get the things that are really important to you. It can also take much longer for a court case than to settle on your own.
We Will Fight for Your Rights and Interests
While it is generally best for everyone if the case is settled outside of court, we are not afraid to take your case to court if necessary. At Law Office of Michael L. Fell, we are here to protect the rights and best interests of our clients. Call us now at (949) 585-9055 to learn more.
