Legal Question in Family Law in California
property settlement.
Marriage date 1-1-99, separation date 9-01-04
On the date of the marriage, I lived in my personal residence, owned by a trust dated 9-30-1992. I am the sole trustee.
In 8-03, the trust sold the residence and purchased another whose title remained in the trust name. All house payments have been made solely by the trust.
In 1997, my corp. (I am 100% shareholder) purchased a rental house in the corp. name. The house is still owned by the corp. All house payments have been made solely by the corp.
In 2003, the trust bought a rental house whose title is in the trust's name. All house payments have been made solely by the trust.
Question:
1) Does the leaving spouse have any rights to half the appreciation of any of the corporate or trust held properties during the marriage period?
2) Does a marriage of this length qualify for any spousal support?
Thank you.
5 Answers from Attorneys
Re: property settlement.
This is a complex issue. Whether there is a community property interest in the corp and homes owned by the trust is a legal question that is dependent upon the facts of the case. You really need to retain an attorney to represent you in this matter.
Re: property settlement.
You would do well with representation. Anything may be alleged, and probably will to attempt to change the nature of the property. Call me directly at 16192223504.
Re: property settlement.
Probably the spouse has no or very little interest in any of the properties. It is a very complex area of law which confuses many family law attorneys and must be presented clearly to the judge, if at trial. As to spousal support. Normally support will be one half of the length of the marriage if the marriage is less than 10 years. If you contact me I will give you a free consultation and I can get more specifics concerning the property rights and give you a better answer. Good Luck, Pat McCrary
Re: property settlement.
The information provided, though good, is not sufficient to enable me to give a considered opinion regarding both questions posited.
It will be necessary to know if any community property was used to pay the mortgage on any of the properties. ( please bear in mind that community property includes either or both parties' incomes). We also need to know if community effort was used to manage, improve and or maintain the properties. Furthermore, what is the nature of the trust. Are you settlor as well as trustee?
Another issue you need to consider is the corporation itself. What is the nature of the corporation? Does the corporation trade? Has there been an increase in the value of the corporation during marriage, etc., etc.
Regarding spousal support, this issue is discretionary with the court and depends on many factors. Please see Family code section 4320, et seq.
I strongly advise that you retain an attorney to assist you in this matter. The legal fees may well prove to be money well spent.
Regards,
Damian Nolan
Re: property settlement.
As to question 1....based on the scenario,no percentage interest created inany of the properties. But he/she could have a right to a 50% interest in the amount the principle on the mortgage was paid down during marriage if community funds were used in payments (which could be in the csse of the corporation).
Question 2...depending on the income of the parties, he/she may be entitled to spousal support. It will depend mainly on the disparity of incomes.
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