Recent Posts in Spousal Support Category

Family attorneys in Pasadena thought the divorce of Lakers superstar Kobe Bryant and estranged wife Vanessa was pretty much a done deal. After years of rumors of affairs, it appeared that Vanessa finally had enough. But new photos surfaced of the couple sharing a Valentine's kiss near the Lakers locker room, leaving fans wondering if Kobe and Vanessa called off what many counted on being the year's nastiest divorce.

Celebrity gossip blogs were positively buzzing last week when photos and video of Kobe and Vanessa Bryant kissing after a Lakers game showed up online. The pair was set to embark on an expensive and brutal divorce, but perhaps they changed their mind?

Not so much. According to the Los Angeles Times, the Bryant divorce is alive and well. The couple has already divided their vast assets in court. Records from an Orange County court show that Vanessa is set to receive $18.8 million in property from her NBA ex. Kobe is said to be worth $150 million and since the couple did not sign a prenuptial agreement, Vanessa could potentially walk away from the relationship with $75 million.

In the meantime, experts say it isn't uncommon for couples to have a "financial divorce" while trying to repair a relationship.

"A married couple can decide to split their specific assets and continue their marriage," Chris Melcher, a family law attorney, told the Times.

A financial divorce can sometimes improve a relationship, he says.

"There is more of a balance of power in the relationship," Melcher said.

Yet other sources are reporting Vanessa Bryant is done with Kobe and currently shopping for property in New York City.

Vanessa Bryant filed for divorce in December, citing "irreconcilable differences." The couple was married on April 18, 2001; they have two daughters.

If you're considering aPasadena divorce, you may be wondering if there is a minimum length of time you must be married in order to receive alimony. While the length of your marriage doesn't determine if you can receive alimony, it is often a factor in how long the payments are made.

Alimony, sometimes called spousal support or maintenance, is a payment made by one spouse to the other in the event of a divorce. Alimony is for the financial support of the adult receiving the payments. Child support is for the needs of the children from the marriage and is determined separately.

In California, a marriage lasting 10 years or more is considered of long duration and thus eligible for extended alimony benefits. If a couple is married for less than 10 years, generally alimony eligibility is determined to be half the length of the marriage. For example, a couple married for six years would have three years of alimony eligibility. This is just a starting point for alimony awards, however. Many other factors are also considered.

Some of the factors that determine alimony awards are the health, age, and future earning prospects of the divorcing couple. For example, a 50 year old woman who has not held a job outside the home in 25 years would be much more likely to receive alimony than a 25 year old with an MBA. Contrary to popular belief, gender is not a factor in determining alimony awards. Alimony is concerned with earning potential alone.

There are four types of alimony awards:

• Temporary alimony is alimony awarded pending the divorce proceeding;
• Rehabilitative alimony is alimony given to allow the lesser earning spouse time to become self sufficient;
• Permanent alimony is paid until the death of one of the spouses or the remarriage of the recipient; and
• Reimbursement alimony is payment for expenses the spouse incurred during the marriage - such as paying for a graduate degree for the higher earning spouse.

A Pasadena matrimonial lawyer can provide advice regarding which type of alimony is most appropriate for your case.

If you're divorcing in Pasadena and think that an amicable divorce is impossible - especially in California - think again. Sure, many celebrities have knock-down, drag-out divorces, but there are few superstar couples who handle divorce with class. Like Katy Perry and Russell Brand.

Married in October 2010 at an Indian tiger sanctuary, actor/comedian Russell Brand and pop star Katy Perry were that kind of quirky Hollywood couple that broke the mold when it came to how a famous couple was supposed to act. So leave it to the pair, who called it quits in December, to divorce like nobody else in Tinsel Town. Brand finalized papers last Tuesday in Los Angeles Superior Court which officially ended his 14-month union to Perry. The documents, according to RadarOnline.com, state that Perry and Brand "have entered into a comprehensive written settlement of all issues, including, without limitation, with respect to the property to be confirmed or assigned to each party."

Most surprisingly, Brand did not go after a penny of Perry's reported $40 million fortune, despite the fact that the pair had no prenuptial agreement. A source close to the pair told TMZ, "This divorce is as amiable as it gets and Russell was a mensch." The couple's considerable assets include four shared properties in New York, Los Angeles and London worth an estimated $15 million. Perry and Brand waived their rights to a trial by checking boxes that they "agree this cause may be decided as an uncontested matter" in the legal documents, indicating that they have reached a settlement outside of court. Perry is only requesting to legally restore her maiden name to Katheryn Elizabeth Hudson.

Further proving that this was a friendly divorce, Perry signed her divorce papers with a smiley face after her name.

Family attorneys in Pasadena, along with courtroom watchers and celebrity gossip columnists, have been wondering for months what the final price tag would be on Mel Gibson's divorce to wife Robyn Denise Moore. Well, wonder no longer. ABC News is reporting that Moore will be taking half of Gibson's $850 million fortune.

Married for 31 years and separated for nearly three, the Gibsons have accumulated considerable assets during their marriage, including major real estate investments (like the island he bought in Fiji for $15 million in 2005). People magazine is reporting Mel and Robyn did not have a prenuptial agreement and hence she also is entitled to half of any film residuals Gibson receives for the rest of his life.

The divorce will take effect on January 9, 2012, and is believed to be the most expensive in Hollywood history. Finalized by a judge in Los Angeles, the judgement keeps nearly all of the details of the settlement secret. Only one of the couple's seven children is still a minor and "therefore subject to a custody agreement," according to ABC News. Custody arrangements are believed to be the next item on the agenda for both Gibson and Moore and will likely be settled in January.

The massive payout comes just months after Gibson agreed to pay ex-girlfriend and mother of his young daughter Oksana Grigorieva $750,000. The couple was embroiled in a brutal custody battle that included the now infamous recordings of Gibson ranting sexist and racist comments. Gibson pleaded no contest to a misdemeanor battery charge involving Grigorieva in March. During the domestic abuse drama, Robyn Moore stood by her estranged husband's side and told the press Gibson was never physically abusive towards her or their children during their long marriage. Gibson and Moore reportedly waited to hash out the details of their divorce until his problems with Grigorieva had been addressed.

When the divorce of NBA superstar Kobe Bryant was announced last week, basketball insiders and family lawyers in Pasadena all wondered how much ex-wife Vanessa stood to gain from the breakup. Since the couple never signed a prenuptial agreement, speculation is high that Vanessa could walk away with millions.

After ten years of marriage, Vanessa filed for divorce on December 16th. But according to the Los Angeles Times, the mother of two signed the divorce petition with her attorney on December 1st. In a joint statement, the couple said, "We ask that in the interest of our young children, and in light of the upcoming holiday season, the public respect our privacy during this most difficult time."

The Bryants have a very public history of difficult times. Vanessa stood by Kobe in 2003 when he was accused of raping a woman who worked at a Colorado hotel. The charges were later dropped, but Kobe admitted to extramarital affairs.

"I know that my husband has made a mistake - the mistake of adultery," Vanessa Bryant said in a statement at the time. However, Vanessa remained tight-lipped as more rumors of affairs circulated throughout the duration of their relationship.

Experts estimate that Bryant will be entitled to at least half of Kobe's $150 million dollar net worth. The current number being tossed around in the press is $75 million, but she could bring in even more. Legal experts say she may be entitled to spousal support and even a chunk of Kobe's retirement cash. Forbes puts Kobe's yearly salary around $53 million before taxes and agents fees. Still, the couple is going to great lengths to keep the financial details of their breakup out of the press. Kobe and Vanessa are said to have reached financial agreements and joint custody arrangements before the divorce papers were filed.

Financial concerns are usually near the top of the list for folks seeking divorce advice in Pasadena especially when couples have embarked on lucrative business ventures together. Sometimes financial situations get really complicated and carry on long after the ink is dry on divorce papers.

Take the tangled finances of 77-year-old singer Frankie Valli and his ex-wife Randy Valli, for instance. The 1960s falsetto singing sensation Frankie Valli saw a career resurgence in 2005 when Jersey Boys, a musical based on his career with his band The Four Seasons, was a hit on Broadway. The show won six Tonys, was a worldwide smash and brought in millions for Valli.

The profits from that show are at the center of Frankie latest battle with Randy. According to TMZ, the 51-year-old Randy already receives $30,000 a month from Frankie (as well as several hundred dollars in public assistance). Official court documents claim that Randy Valli currently nets $25,000 in Jersey Boy royalties, $5,000 in spousal support and $810 a month in public assistance for taking care of their minor children. Her new lawsuit is seeking additional royalties as well as financial coverage of legal fees. The legal documents state that Frankie makes more than $515,000 a month, with the majority of the money coming from Jersey Boys. Jersey Boys has a sold-out touring production, a permanent home in Las Vegas and a production in London - all of which bring in millions of dollars to Valli and the other producers every year. The musical, which is headed for the big screen, recently became Broadway's 25th-longest-running musical.

Valli married Randy Clohessy on July 7th, 1984; the couple filed for divorce last year. The pair have three children together. Valli was married twice before he met Clohessy.

Many older people looking for divorce help in Pasadena often voice concerns about their financial future. With a bleak economy and dismal job market mixed with little or no retirement savings, older Americans of any marital status have plenty to be concerned about. Now a new study commissioned by the Salvation Army finds that older divorcees have one more serious issue to worry about: homelessness.

Entitled "No Home at the End of the Road," the study examines the overwhelming housing stress currently affecting older single women. Divorced Baby Boom generation women, according to the findings, are one of the most financially vulnerable groups and are at a high risk of poverty and homelessness as they grow older.

One hundred eleven single women over the age of 40 who admitted they didn't expect to be homeowners before retirement were surveyed by Dr. Andrea Sharam of the Sinburne Institute. Seventy-seven percent of the 111 women surveyed were renting even though 79 percent of the women possessed higher education. These numbers deflate educational breadwinner theories, which suggest women with higher education earn larger salaries. And even those women in the survey who reportedly earned over $70,000 a year admitted to having minimal savings. In general, the majority of women received low monthly retirement payments or expected to do so. Fifty-eight percent predicted they would have less than $100,000 superannuation at retirement. Sixty-five percent of the women who are renting their homes said they were in debt. Most shockingly, a third of the women felt that they would never have sufficient income to retire while 20 percent felt certain they would need to keep working after age 70.

Sharam says divorced women are at particular risk regardless of their financial past.

"It's not about low income, it's about your life course," Dr. Sharam said in an interview with The Age. "You can do remarkably well, but as soon as you divorce, it's a different story."

Sports fans and divorce lawyers in Pasadena alike have been watching the contentious divorce of Dodgers owners Frank and Jamie McCourt rage on for nearly two years. In that time, we've seen the pair battle relentlessly over the team, which she says she's entitled to half of while he says he's the sole proprietor. After months of back and forth over which one of the spouses will end up with the struggling baseball franchise, it looks like a big time (and big dollar) settlement has finally been reached.

The Los Angeles Times is reporting that Jamie McCourt will walk away from the Dodgers and relinquish her rights to the team for a payout of $130 million. This agreement is expected to bring about the end of what experts believe is the most expensive divorce in California history. The settlement would dissolve Jamie's relationship with the team and would prohibit her from making any further claims. With Jamie out of the way, Frank can now pursue his publicized plan to retain ownership of the team by selling the highly-profitable television rights in U.S. Bankruptcy Court.

According to theTimes, Frank and Jamie McCourt "incurred $20.6 million in legal bills related to the divorce through July" while the battle for the Dodgers alone might have added an estimated $14 million in legal fees to the previous total. Frank isn't off the hook just yet, however. Mr. McCourt now has to face-off with Major League Baseball commissioner Bud Selig to decide the ultimate fate of the Dodgers. Selig has asked the Bankruptcy Court to force a sale of the Dodgers via court order. MLB officials cite financial mismanagement as the reason why the team should be sold publicly, while lawyers for Frank McCourt believe Selig is using the "enormous negative publicity" from the divorce to help force the sale of the team.

Here are the 7 most important factors to remember when negotiating a divorce settlement:

1. Money will Almost Always Become an Issue in Divorce

You are probably thinking: "Is that supposed to be a secret? I knew that already!" Yes, that may be so -- but you may also be underestimating how much of an issue it will be. Even with the promise of fairness from your ex-spouse, or of a deal that sounds too good to be true, you should still do your homework. Remember not to make offers during negotiations out of feelings of guilt and "give away the farm." Seek out the appropriate professional and information, so that years from now you do not feel badly that you agreed to a settlement too quickly. You also want to budget, budget, budget! You will be much more confident in your decisions if you prepare an estimate of a monthly budget (required in some provinces and states) to determine if you can afford to retain certain assets.

2. A 50/50 Division of Property is Not Always Equal

When I began to use this phrase, my teenage daughter reminded me that in school, when children are taught about fractions and things are divided 50/50, it is always equal! I concurred, but explained that in the division of a couples' matrimonial property, this fact is not always the case. For example, a $400,000 house does not always equal $400,000 in stocks, or $400,000 in rental or recreational property. There are tax implications affecting many decisions, which may affect many of the assets and their values very differently. Overlooking this fact may mean that you get less property than you actually should, or at the very least, you may end up with future tax hits that you were not prepared for or even aware of. The housing market and stock market are just a couple of examples that in the future may affect the property you choose to retain and in turn your future personal net worth.

3. "Divorce the House, Before the Spouse"

Decisions about retaining the family's largest asset should not be an emotional one. As difficult as it sounds, this decision should be made strictly by considering the responsibility and the dollars and cents involved. You must find out before signing the legal agreement whether you can qualify for a mortgage on your own. Many people believe that a lender will simply remove their ex-spouse's name -- but that is usually not the case! Speak to a lender as soon as possible to find out if you can qualify and (if so) how much you can qualify for. If you do qualify, make sure you ask yourself these questions:

Can you afford the monthly cost to service this debt? What about the costs of maintaining the home? Things like, utilities, property taxes, and unexpected maintenance such as a new roof? Do you have the time and energy to maintain a home? Will you be left with 25 years of 'stuff' to deal with on your own? Are you prepared to mow the lawn, and clean your home?

4. Understand the "True" Value of Your Investments and Retirement Assets

Get advice on the market risk of your investments. Will you be satisfied if you are the partner left with all of the high risk investments, and then the market takes a turn for the worse? Will you be satisfied if you did not retain 50% of the private investment that today is worth little -- but can be extremely lucrative down the road? If you are dividing a portfolio of investments, it is extremely crucial to understand the make-up of these assets, and the background on some of these stocks and funds, before making a decision. There are hidden or unknown costs associated with many types of investments. If you decide to dispose of them, you must be aware of this fact. A surprise that you owe the 'tax man' money down the road will likely be very stressful. You may also need to be educated on stock options and other types of employee incentive plans that you or your spouse may have. These types of plans have become more prominent in recent years, as more employers have chosen to offer them to employees instead of raises. Options that may be 'under water' today may increase significantly in value down the road as the economy slowly improves.

5. Ensure that Pensions and Businesses are Valued Properly

Next to your home, a pension -- especially for an employee that has been with his or her company long term -- can often be one of the most valuable assets that a couple has. Certain types of pensions may need to be valued by a trained actuary in order to determine its true value. Failure to do this may mean that you miss out on a great deal of money being included in your matrimonial property total. Remember that the value on the annual statement of a pension is not always the correct one to use. It is also necessary for the spouse with the pension to look into the regulations of that pension, in order to determine the amount that the spouse is entitled to receive, and in what manner. For self-employed spouses, the value of their business is often included in valuing a couples' matrimonial property. The valuation of a business can be very complicated, and for many it is absolutely necessary to consult with a Chartered Business Valuator.

6. Ensure that the Payor of Child and/or Spousal Support is Life Insured

In the event of a payor's untimely death, it is necessary to have life insurance in place to fulfill future support obligations. Imagine if you have young children and are receiving child support, or if you are in your 50s or 60s and receiving spousal support (or alimony), and something happens to your ex-spouse (the payor)? In such cases, you will suddenly be without that income, which may be financially devastating.

7. Many Divorce Decisions have Significant Implications for Your Tax Return

There are many available claims on your tax return, especially with respect to children, which can save you significant tax dollars. The rules for most of these are complicated -- especially as they apply to separated parents. However, when applicable, the tax savings can be significant. Do your research before signing your legal agreement, and have a professional complete at least your first tax return after legalizing your financial settlement. These are the 7 most important factors to remember when negotiating a settlement. Treat the financial decisions as a business deal, and educate yourself on the facts so that you will be an empowered decision-maker, and in control of your financial future. Also keep in mind that divorce is one of the few times in life when we often do not listen to our intuition, although it is the most important time to do so!

Gold-digging spouses of both genders are something divorce attorneys in Pasadena are all too familiar with. China, a country where the divorce rate continues to explode, hopes that a new law will discourage people from marrying just for the money.

In the states, spouses usually split the property 50/50. But in China, it's now a different story. Last week, China's Supreme Court ruled that the person who buys the family home (or the parents who advance them the money) will get to keep it in the event of a divorce, meaning that China's versions of Tom Arnold or Camille Grammer will be plum out of luck when their divorces are finalized. The government is optimistic that this new regulation will not only keep gold-diggers from marrying with dollar signs in their eyes but will help preserve the institution of marriage.

"Hopefully this will help educate younger people, especially younger women, to be more independent, and to think of marriage in the right way rather than worshipping money so much," said a lawyer in Hunan province.

Young Chinese men trying to buy a family apartment stand to gain a lot in the ruling. China's huge property bubble has pushed property prices up to an astounding £5,000 per square meter even though annual salaries average just £6,000.

The new law is clearly the reaction of a country suddenly trying to deal with divorce, a practice that was looked down upon less than a decade ago. An estimated 5,000 couples a day in China are divorced and, according to recent statistics, there were 2.68 million divorces in China last year. It seems divorces have multiplied at almost the same speed as China's economy - by 7 percent a year for the past five years.

If you're seeking divorce advice in Pasadena and you think might have a brilliant plan to get out of splitting half of your assets, you might want to think again. The New York Post is reporting that billionaire Henry Silverman's "ingenious" idea to save his fortune from his wife's clutches has been squashed by a New York judge.

Silverman made a bundle of money - an estimated $450 million - from Cendant Corp. during his long-term marriage to wife Nancy. So when the two headed to divorce court to split up their property and assets, Silverman and his legal team took a novel approach to the "that's mine, this is yours" argument. They attempted to prove that Silverman is an "innate genius" by submitting testimony from psychological experts who could vouch for his extraordinary intelligence. Silverman and his legal team hoped proof of his natural genius would clearly show that Nancy had nothing to do with his financial and professional success. Despite Silverman's efforts, State Supreme Court Judge Laura Dragger banned the evidence from being used in the divorce case.

Divorce lawyer Raoul Felder told The New York Post in an interview that Silverman was grasping at straws.

"Good try, but no cigar," Felder said. "If it had worked, anyone who made a lot of money would bring their obstetrician when they got divorced to prove they were geniuses [from the day they were born]. The judge had it right."

Henry and Nancy Silverman have been deadlocked in their divorce case since 2008. The thirty-year marriage of the Silvermans came crashing down after Henry left his wife for a yoga instructor he met at Starbucks. Since then, the pair has been in and out of court trying to finalize their divorce. The Silvermans have one child together.