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Showing posts with label #divisionofassets. Show all posts
Showing posts with label #divisionofassets. Show all posts

Thursday, December 16, 2021


If you’re planning a divorce in 2022, you’ve got lots of company. Few couples want to disrupt the family’s holidays with Divorce matters, and statistics show that Divorce rates are highest early in the year.

These are things you can be doing now that will help move the process along, minimizing the impact on your family.

1. Identify assets and liabilities

  • Identify separate assets for each spouse. These are the individual assets that you brought into your marriage and are not subject to division. They might include real estate, valuable collections, such as antiques and cars. This also includes brokerage, savings and retirement accounts.
  • Identify marital assets–those things you and your spouse acquired together during your marriage, to be divided equally.
  • Identify liabilities. Identify individual and marital debt. It may be that you’re still paying off your college loans. If so, these likely are separate debts that you brought into the marriage—your spouse bears no responsibility for repaying these debts. If, however, you and your spouse buy a home together, your mortgage is a shared liability.

2. Gather/copy important records and financial documents

It’s helpful to have copies of your records in one place when going through your divorce, and you will need to have copies. Deeds, mortgages, car titles and other financial documents that show proof of ownership or investment are essential.

3. Amicable Divorce

While it can seem overwhelming, Divorce is actually a very methodical process. If you can agree on division of property and a parenting plan, you don’t need an attorney, and Guideway can save you a lot of money. We are available for questions throughout the process. Either you or your spouse will serve the other with a petition, which Guideway files with the court. You will need to exchange detailed financial information that includes both assets and debts, mentioned above. Our team is compassionate, knowledgeable, and responsive. We guide you through it, and we prepare the legal documents.

4. Guided Mediation

Guideway is an experienced, neutral third party that guides divorcing couples through the issues that have stalled their divorce, helping them reach a mutually acceptable resolution. There’s no judge, no winning or losing. Instead, our Guided Divorce is based on the principles of negotiation, open-mindedness, and compromise. Both parties must be our clients and must be willing to listen and compromise.

You’ll be asked to prioritize:

  • What can’t you live without? It may be your house–your biggest asset that keeps appreciating, and the place your kids call home.
  • What will you give up to keep it? Retirement benefits? Long-term financial support?

Our skilled guides help couples divide their assets and work through custody matters to reach mutually agreeable solutions.

Now is a good time to begin thinking about your priorities

  • Do you want to continue living in the family home? Remember that you’re now living on one income rather than two, and home maintenance is expensive. It may make sense to sell the house and move to a more affordable neighborhood.
  • How important will it be for you to obtain alimony (or minimize your liability for alimony)?
  • What can you expect from your spouse in terms of co-parenting your children?

5. Think about your spouse’s priorities

Note areas where your and your spouse’s priorities are likely to overlap. This will help you to be better prepared to address potential conflicts.

6. Create a post-Divorce plan

Get realistic about your post-Divorce life. While Divorce represents a fresh start, the high cost of living in the Bay Area also makes it stressful. By preparing a budget and identifying your want-to-haves vs need-to-haves, you can be realistic about the new life you are trying to create for yourself and your family.

7. Keep a low profile

Hiding assets is a very bad idea and has serious consequences if it backfires. Maintain a low profile and keep your spouse and your Divorce off social media.

8. Manage stress

While your Divorce is a major life event with long-term consequences, try to keep this in perspective. You will get through this.

Guideway’s Divorce and Mediation Services

Guideway has been assisting Bay Area couples with Divorce for nearly 20 years. While the majority of our clients may not have worked out the details, they know they are willing to reach agreement on division of assets and a parenting plan—and those are the critical components of an Amicable Divorce. Our Guided Mediation is for couples whose Divorce has stalled for whatever reasons. We guide you through it, and we prepare the legal documents. Schedule an appointment with Guideway today.

Guideway services the entire Bay Area

Berkeley, El Cerrito, Richmond, Pinole, Alameda, San Leandro, Castro Valley Newark, San Lorenzo, Concord, Alamo, Danville, Lafayette, Orinda, Moraga, Pleasant Hill, Martinez, Pittsburg, Antioch, Brentwood, Oakley, Discovery Bay, Pleasanton, San Ramon, Livermore, Tracy and Fremont. Our clients also live in the Napa Valley, Benicia, Vallejo, Martinez, Fairfield.

Tuesday, March 23, 2021

Too Busy to Get Divorced?


The pandemic has played some cruel tricks on
 relationships. Too much stress. Too much anxiety from worrying about jobs, kids and trying to stay healthy. Too much time together without a break. The result is a whole lot of people who can’t wait to get out of their unhappy marriages. One of the ironies of Divorce is that no matter how unhappy you and your spouse may be, it requires a significant effort to get even an uncontested, or amicable, divorce.

A woman from Concord, Shelley, who had filed for a Divorce nearly a year ago recently came into Walnut Creek office and wanted to know if we could help her. She and her spouse had tried a do-it-yourself (DIY) Divorce, but their economics didn’t fit the DIY mold. She’s not alone. Trying to equally divide your life and how you will share the raising of your children requires some heavy lifting.

Like many Bay Area women, her life is a constant juggling act

Shelley has two children under 12 who are involved in a variety of activities. She has a good job, but works long hours and her husband works for a nonprofit. By the time she deals with the challenges of her job, her kids and running her home, she’s exhausted and can’t seem to find time to focus on the Divorce, and her husband isn’t much help.

Disclosure: A listing of assets and liabilities

Shelley and her husband agree that they want a divorce, so they will identify the assets and liabilities that constitute their financial status. The next step will be to determine how they will split their assets and share the responsibility for their debts.

For their two children, there must be a parenting plan

The more thought and care that goes into this, the more successful the parenting plan will be. Shelley and her husband tried to stick to their kids’ existing routines as much as possible. They’ll need to decide:

  • If they’ll share legal custody or if one will have sole physical and legal custody. Will one of them keep the family home? If so, that ensures that the kids remain in the same neighborhood and school. This is a tricky one. Owning and maintaining a home in the Bay Area can be challenging on a single income.
  • Who will be responsible for the kids’ health insurance, for transportation to and from activities, from doctor and dental appointments?
  • Where their kids will spend school holidays and summer vacations?
  • Who will buy their clothes and deduct them on their income tax?

While a parenting plan will evolve as children grow, the more thoughtful and complete, the better the family will adapt.

We created a project plan and a timeline for the Divorce to be finalized

Guideway identified tasks and a timeline for Shelley and her husband to complete them. They now know exactly what they need to do and have set a goal to be divorced by September. We were delighted to provide the structure and accountability that got Shelley’s Divorce back on track.

There’s a better solution: Guideway 

Guideway has been assisting Bay Area couples with their Divorces for more than 15 years. If you and your spouse can reach agreement on division of assets and liabilities and a parenting plan, you don’t need an attorney, and we can save you a significant amount of money.
Divorce can seem overwhelming, but it’s a very methodical process. Most of our clients have a pretty good idea how they are going to divide their property and share custody of their children. They may not have worked out the details, but they know they are willing to reach agreement—and that’s the critical component of an amicable Divorce.

Best of all, we guide you through it and we prepare the legal documents. Schedule an appointment with Guideway today.

We service the entire East Bay and North Bay areas

Berkeley, El Cerrito, Richmond, Pinole, Alameda, San Leandro, Castro Valley Newark, San Lorenzo, Concord, Alamo, Danville, Lafayette, Orinda, Moraga, Pleasant Hill, Martinez, Pittsburg, Antioch, Brentwood, Oakley, Discovery Bay, Pleasanton, San Ramon, Livermore, Tracy and Fremont. Our clients also live in the Napa Valley, Benicia, Vallejo, Martinez, Fairfield.