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Los Angeles Divorce Law Blog

Higher divorce rates could be indicator of a recovering economy

The financial implications of a divorce loom large over the proceedings. The agreements made when a divorce is finalized can impact the future lifestyles of the splitting spouses. Protecting your interests and securing a fair division of assets is always the goal for any soon-to-be-ex, an effort made easier with the services of an experienced lawyer.

Along the economic lines of marriage and divorce, evidence shows that while the recent recession has placed added strain on many American households, the divorce rate has dipped. Federal data shows that there were 3.6 divorces per 1,000 people in 2007. That rate dropped in 2009 to 3.4 divorces per 1,000 people. Further data provides a clearer picture. Between 2005 and 2009 when a state saw its unemployment rate go up, that state saw a similar decline of its divorce rate.

Property totaling $18.8 million given to Kobe Bryant's ex-wife

Back in December, we talked about Kobe Bryant's divorce from his wife Vanessa Bryant and the rumor at the time was they lacked a prenuptial agreement. The issues at play in this divorce were kept private, but new information has provided the public with details regarding the matter of property division between the splitting Bryants.

One of the few superstars in the National Basketball Association and a career Los Angeles Laker, Kobe Bryant handed over three pieces of real estate to his ex-wife during December. The property division matter began on December 14 when Vanessa Bryant had a $2.9 million home transferred to her. The former couple bought the home in 2003 and retained joint ownership until the transfer was made.

Film star Gibson could lose $425 million in divorce

A judge in Los Angeles, California has entered final court decrees in the divorce of film star and producer Mel Gibson and his wife of 32 years, Robyn Moore. While many details of the settlement between the parties in the divorce proceeding are sealed, it is known that Gibson was required to give half of his approximately $850 million in assets to his ex-wife as a result of community property laws and the lack of a prenuptial agreement between the couple.

His fortune is reported to include about $600 million he received in profits from many of his films including The Passion of the Christ, and around $22.5 million worth of California real estate and other property located in Fiji.

Alimony laws could be headed for national makeover

Some are calling it misogynistic; others say it is just reforming an out-of-date law. Whichever side you fall on, the reality is that new alimony legislation in the state of Florida could have a more wide-reaching impact on spousal support than you think.

Florida lawmakers are presenting some new bills that will revise the state's alimony laws, which would limit the duration of spousal support payments to a length of time equal to the dissolved marriage. The bills would also place a cap on alimony payments at 20% of the paying spouse's net monthly income and would also terminate alimony payments when the paying spouse reaches full retirement age, which is currently 66.

Russell Brand files for divorce from Katy Perry, rumors swirl

Katy Perry, one of the most prolific pop singers today, and Russell Brand, a British comedian and actor, are ending their 14-month-long marriage according to court documents in Los Angeles. Brand filed for divorce from Perry citing irreconcilable differences.

Rumors had been building quite a head of steam over the past few weeks that the celebrity couple was headed for divorce. Those rumors were only fueled by a pair of holiday headlines involving the couple, as they spent Christmas apart followed by Brand being seen sans wedding ring while walking the streets of London. Still, Brand assured people that he and Perry were happily married after an interview with Ellen Degeneres.

After 77 years of marriage, Italian couple files for divorce

As divorce rates continue their upward trend, California residents will be interested to hear about a remarkable divorce happening in Italy. Nearly eight decades after a couple in Rome tied the knot, an affair between the 99-year-old man's wife, aged 96, and her secret lover in the 1940s has brought an end to their marriage.

If you thought divorce was already a complicated enough matter, just imagine the property division this elderly couple will have to go through. They were married for 77 years, have five children, 12 grandchildren, and a great grandchild, and surely have acquired quite a bit of property and assets during that time.

No prenuptial agreement? Bryant's wife stands to make millions

Just two days ago, we discussed the benefits of prenuptial agreements when getting married. Any financial issues can be addressed in the agreement and the legally binding contract simplifies divorce proceedings by directing how the assets of the splitting parties are to be divided.

If various reports are true, then Kobe Bryant should have been reading our blog. The Los Angeles Times says Vanessa Bryant's mother told the paper that the NBA superstar did not enter into a prenuptial agreement in 2001 when the couple married.

Benefits of Prenuptial Agreements for California Couples

When a couple is thinking about getting married, it may seem unromantic to contemplate the eventual end of the relationship through divorce or death by discussing a prenuptial agreement. However, prenuptial agreements offer many benefits and protections for spouses who sign them. A prenuptial agreement is a legally binding contract that couples draft to delineate the rights and responsibilities of each party upon the end of the marriage, whether it be in divorce or death. According to California law, a prenuptial agreement must be in writing and can address any financial issue in the marriage except child support. There are several situations where a prenuptial agreement can make difficult times a little bit easier.

One or Both Parties Have Been Married Before

Often people entering second marriages have assets that they want to preserve for children from the first marriage. A prenuptial agreement can help support an estate plan that distributes one spouse's assets upon his or her death. Even if the spouse writes a will leaving certain things to a child, the surviving spouse is allowed under the law to take an "elective share" of the deceased spouse's assets. Each spouse can waive the right to an elective share in a prenuptial agreement so that the children may inherit in accordance with the parents' wishes.

One of the Parties is a Business Owner

When one of the spouses owns a business with other parties, a prenuptial agreement addressing the other spouse's rights to the shares of the business can be helpful. If a premarital agreement signifies where the business-owning spouse's shares of the business go upon his or her death, it can help prevent the other spouse from unwittingly becoming a partner in the business when the business owning spouse dies.

One of the Parties Has Disproportionate Wealth or Earning Power

If one of the parties enters the marriage with substantially more assets or earns a great deal more, both parties can benefit from a prenuptial agreement. The spouse with more assets or income may include provisions to protect what he or she brings to the union. Alternatively, the spouse with fewer resources may include clauses in the agreement that ensure that he or she will have financial security, should the marriage end.

Similarly, if one of the spouses brings significant debt to the marriage or contemplates incurring a lot of debt during the marriage, a prenup may absolve the other spouse of responsibility for the debt.

Stay-At-Home Parents

A prenuptial agreement can help in situations where one of the spouses anticipates leaving the workforce to raise the couple's children. The couple can decide what kind of financial settlement the stay-at-home parent will receive to ensure that he or she is financially secure in exchange for sacrificing career advancement and earning power from being out of the workforce while parenting.

Couples sign prenuptial agreements for a variety of reasons and signing such an agreement does not imply that the couple is betting that the marriage will fail. As unromantic as it may seem to spell out where the money will go when the marriage is over, doing so before the marriage begins is often a wise decision in the long run.

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