Tag Archive for: Separate Property

What are Benefits of Divorce Financial Planning?

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You will learn about the ramifications of complex subjects such as separate vs. community property, valuing and dividing property, retirement and pensions, spousal and child support, the family residence, tax ramifications and insurance. You will

    • Understand the difference between separate and community property;
    • Understand how personal property, intangible and illiquid assets are valued and divided;
    • Understand Defined Contribution versus Defined Benefit plans versus Deferred Compensation plans and how they are valued and divided;
    • Understand the tax ramifications of Spousal and Child support including recapture and Child Contingency rules;
    • Understand the importance of security for support payments.

California Divorce Dictionary: Section 2640 Claim

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A Family Code Section 2640 claim is a request for reimbursement based upon one spouse’s Separate Property contribution to the acquistion of Community Property. A reimbursement would be due from Community Property to the contributor spouse’s Separate Property to reimburse the contributor for their contribution. A reimbursement claim may be applicable to the extent the spouse can trace his/her contributions. The reimbursement amount is limited to the total amount contributed. Making a 2640 claim will require tracing, forensic accounting and a paper trail. Examples include downpayment on a home purchase or payment for improvements financed from Separate Property funds.