Recent Posts in Property & Assets Division & Distribution Posted By Richard Ross Associates 18-Feb-2016 Attorney Ross Published in California Bar Newsletter Richard Ross Associates is proud to announce that Attorney Richard Ross has had an article published in the California Bar's January 2016 newsletter! The article, titled Ruling Affects Separating Couples Still Under the Same Roof, discusses how ... Continue Reading Posted By Richard Ross Associates 29-Aug-2014 Five Things to Remember When Getting a Divorce If you are getting a divorce in California, there are many things you will want to think about. There are five main aspects that you should keep in mind throughout the process. 1. Patience Nothing happens overnight and divorce is no different. The ... Continue Reading Posted By Richard Ross Associates 20-Aug-2014 Failure to Follow California's Strict Disclosure Rules Can Be Very Expensive in Divorce Cases In California, it is imperative that during any divorce, legal separation, dissolution or nullity case, both parties make a full and complete fiduciary disclosure, in order to avoid either party taking advantage of the other. Disclosure duties are ... Continue Reading Posted By Richard Ross Associates 16-Jul-2014 Mediation: Recommending vs. Non-Recommending Counties - Part 1 Mediation is an important component of family law. California counties fall into two groups regarding mediation, as a settlement tool. Some counties formally recommend mediation as a useful solution, while others take a more "neutral" ... Continue Reading Posted By Richard Ross Associates 27-Jun-2014 Dividing Debt: Best Practices In an earlier blog we mentioned dividing debt between both parties much the same as you would divide assets. This is a good practice, however must be used with caution. The party to whom the debt is owed has no obligation to honor the division of ... Continue Reading Posted By Richard Ross Associates 24-Jun-2014 What Happens to Household Furnishings & Furniture After a Divorce? During your initial divorce paperwork, it is required that each party file a Preliminary Declaration of Disclosure, or PDD. This document lists all assets owned either separately or jointly by the parties and the approximate value of each item. ... Continue Reading Posted By Richard Ross Associates 23-Jun-2014 Pension & Retirement Accounts After a Divorce Dividing assets such as pensions and retirement accounts can be a little more complicated than more liquid assets, such as a savings account. Since California is a community property state, even if the pension, retirement of 401k account is in the ... Continue Reading Posted By Richard Ross Associates 20-Jun-2014 Post Separation: Who Pays the Debt? Generally during the divorce process the community assets are on of the first things to be identified and later divided, but what happens if there are any debts? In cases where one party is awarded an asset with a debt still encumbered (such as the ... Continue Reading Posted By Richard Ross Associates 18-Jun-2014 Is the Engagement Ring Separate Property? Engagement rings cost a hefty amount of money and can often be an item of dispute during a divorce. After a divorce the engagement ring most likely has a negative association and the wearer probably doesn't continue to wear it, but who gets to ... Continue Reading Posted By Richard Ross Associates 16-Jun-2014 What is the Difference Between Community and Separate Property? Community Property Did you know the state of California is considered a community property state? This means that any assets, such as cash, property, business interests, stocks, etc., acquired during a marriage are considered to be owned by the ... Continue Reading Posted By Richard Ross Associates 12-Jun-2014 Why You Shouldn't Allow Your Business to Fail During a Divorce Divorces are difficult for everyone involved; tensions and hurt feelings can often run high. It's during this time that revenge or payback on an ex-spouse may be tempting and if you own a business together, you may consider allowing the business ... Continue Reading Posted By Richard Ross Associates 10-Jun-2014 What Role Does a Forensic Accountant Play? Determining the value of a family owned business, especially during a divorce, can be a lengthy, complicated process. Even assuming the business has good records and a clean copy of their books, an experienced professional may be needed to determine ... Continue Reading Posted By Richard Ross Associates 9-Jun-2014 How is Ownership Interest in a Family Business Calculated? Previously we've discussed how the family residence can be divided in a divorce, but what about the family business? Since California is a community property state, in most cases anything acquired or started during the marriage would belong to ... Continue Reading Posted By Richard Ross Associates 5-Jun-2014 What Happens When the Downpayment on the Family Residence is Made From Separate Property? In our previous blogs we've discussed what can happen to the family residence during a divorce and how it can properly be divided, but what happens if the down payment on the home was made with separate property? Let's say that prior to the ... Continue Reading Posted By Richard Ross Associates 4-Jun-2014 Property Valuation - Use of Experts For many couples getting a divorce, the family residence will be their largest asset. It's important that it is properly valued, with both sides agreeing, and that it is equally divided. Through years of experience, the attorneys at Richard Ross ... Continue Reading Posted By Richard Ross Associates 2-Jun-2014 What Happens to the Family Residence? During a divorce or legal separation, one of the first things that needs to be decided is what will happen to the family residence. Since California is a community property state, in most cases each party will receive half the value of the asset ... Continue Reading Posted By Richard Ross Associates 2-Dec-2013 Understanding Why An Automatic Temporary Restraining Order is Issued During a Divorce Filing a petition for divorce automatically invokes Automatic Temporary Restraining Orders (ATROs) against both parties in the case. It takes effect the moment the other spouse receives the petition, and is designed to prevent either party from doing ... Continue Reading Posted By Richard Ross Associates 18-Nov-2013 Defining the Undefined: Cohabitation Agreements Living together without getting married is a fairly common situation for couples these days. In some states, the protection of common law marriage applies after a certain period of time. However, California does not recognize common law marriages no ... Continue Reading Posted By Richard Ross Associates 12-Nov-2013 Marital Separation Agreements: Taking the Stress Out of Divorce There is no such thing as an easy divorce. It is possible however, to work things out so that both parties come away from the situation feeling as if they have both attained a small victory. A marital separation agreement defines the parameters of ... Continue Reading Posted By Richard Ross Associates 6-Nov-2013 Mediation Tips for your Divorce When seeking mediation for your divorce, the best advice for you is to be prepared. Otherwise, your divorce could take much longer than anticipated as both sides struggle to come to negotiation, or mediation. Here are some mediation tips that you can ... Continue Reading Posted By Richard Ross Associates 4-Nov-2013 Testimonials: The Truth Behind Any Business A proven track record is better than the brightest potential. For this reason, the attorneys at Richard Ross Associates allow input from our most valuable partners: our clients. Divorce courts are filled with unscrupulous and/or inexperienced ... Continue Reading Posted By Richard Ross Associates 28-Oct-2013 How a Collaborative Divorce Can Create an Equitable Resolution for Both Parties There is no way around it; a divorce is going to change your family dynamic for good. However, it doesn't have to be a knock-down and dragged-out fight if both parties are willing to be amicable. A collaborative, or "out of court" ... Continue Reading Posted By Richard Ross Associates 7-Oct-2013 Understanding Preliminary Financial Disclosures and Their Importance in a Divorce When getting a divorce, each party has to provide the judge with paperwork known as the preliminary financial disclosures. It's a necessary step in the divorce proceedings and a judge will not sign off on a divorce without them. Family law court ... Continue Reading Posted By Richard Ross Associates 4-Sep-2013 Is It Possible to Get a Divorce Without Retaining a Divorce Attorney? The short answer is yes, but it's not that great of an idea. In fact, the importance of hiring an attorney simply cannot be stressed enough. The divorce attorney is familiar with the state laws regarding divorce, how they apply to your situation ... Continue Reading Posted By Richard Ross Associates 16-Jul-2013 How is Debt Divided During a Divorce? One of the most effective ways to protect your assets and property during and after a marriage is through a prenuptial or post-nuptial agreement. In cases where no prenuptial agreement exists, and you and your spouse have decided to end the marriage, ... Continue Reading