Recently in Separate Property Assets Category

June 28, 2010

California Divorce Papers Reportedly Signed by Charlie Sheen, Brooke Mueller

A variety of celebrity websites are reporting that Charlie Sheen and his wife, Brooke Mueller, have signed divorce papers. According to the site PopEater, however, the couple's California divorce settlement agreement has not yet been formally submitted to a court for consideration.

The couple's marriage began to unravel last Christmas when police were called to a residence in Aspen. Sheen is now facing domestic abuse charges in Colorado. In the wake of that incident Sheen and Mueller's progress toward divorce, and a Southern California family law court, has been swift.

The California divorce settlement may be filed in Orange County or elsewhere in the region. According to HollywoodNews.com, the document stipulates that the couple will share custody of their 15-month old twin boys, with Sheen paying $55,000 a month in child support. Media reports say the settlement specifically says that Mueller's level of child support may not be lower than the sum Sheen pays to his first wife, Denise Richards. In addition to the child support, Mueller will reportedly receive a large cash payment, as well as having Sheen buy out her equity in their home (Sheen will keep the house itself).

Celebrity divorces in Orange County, Los Angeles or elsewhere in Southern California can often seem far-removed from the lives the rest of us live. In fact, their basic outlines are often little different from anyone else's and, as such, highlight the important role that having the right Orange County divorce lawyer plays in the process.

An experienced Orange County child custody and divorce attorney should be both an aggressive advocate for your interests and a knowledgeable advisor on the complexities of California family law. Dividing up assets, establishing an equitable level of child support and negotiating custody arrangements are as important to you as they are to any celebrity. Ensure that your settlement protects your interests by utilizing the services of a comprehensive Los Angeles and Orange County family law practice at every stage of the California separation and divorce process.


PopEater: Charlie Sheen and Brook Mueller Sign Divorce Docs

HollywoodNews.com: Charlie Sheen's divorce settlement with Mueller: Not a penny less than Denise Richards

Bookmark and Share
May 20, 2010

Blogging a Southern California Divorce

Blogging about other people's Southern California divorces is one thing, but your own? While it is still being adjudicated? Say what you will, author Justine Musk is taking an unusual approach to negotiating her Los Angeles County divorce settlement. The real negotiating is, of course, taking place behind closed doors involving Southern California divorce lawyers. Musk, however, has used her blog to lay down a marker about what she wants and to defend it in public. The case of Musk and her husband, billionaire investor Elon Musk, is especially interesting because, as Reuters reports, Justine's demand for a stake in Elon's latest venture - the Tesla electric car company - may complicate plans for the company to go public.

According to LA Observed the couple have been married eight years and have five children. Elon Musk is a co-founder of PayPal. Justine Musk is a successful novelist, specializing in supernatural thrillers. LA Observed, quoting her blog, says she is demanding a 10 percent stake in Tesla, as well as five percent of another Musk venture, Space X. She also wants $6 million in cash, the couple's house, child support and alimony... and a Tesla Motors Roadster (retail price: $109,000).

Reuters reports that Justine Musk's demand for a stake in Tesla Motors as part of her California divorce settlement "could complicate plans... to take the company public and retain $465 million in U.S. government funding to launch a mass-market electric car named Model S." The news agency reports that lawyers for both spouses did not return calls seeking comment.

The case highlights an aspect of Orange County and other Southern California divorce proceedings that is not often publicized: the post-marital agreement (which is less well-known, at least to the public, than are prenuptial agreements). Justine contends that the agreement she signed shortly after the couple wed is "extremely harsh" and has asked the California divorce court to throw it out. An initial ruling favored Justine, but that is being appealed. If the lower court ruling stands she would be entitled to half of Elon's assets under California's community property laws.

Your marital affairs do not have to involve stakes of this sort to be complex and emotionally draining. Consulting with an Orange County divorce attorney is an essential early step in the often complex task of untangling a couple's affairs and making sure you get the settlement you deserve.


Reuters: Tesla stake on the table in CEO's divorce dispute

LA Observed: Author blogs her divorce from billionaire

Bookmark and Share
May 4, 2010

Halle Berry's Split Raises Custody Questions

Several celebrity websites report that Oscar-winning actress Halle Berry and boyfriend Gabriel Aubry recently broke up after four-plus years together. Their rupture raises potential California child custody issues because the couple, though never married, have a two year old daughter.

The Huffington Post quotes entertainment websites reporting that the split actually took place several months ago, but has only now leaked out into the media. Quoting Radaronline, the website reports: the couple "have already hammered out a custody and financial agreement." The article goes on to say that the document calls for "50/50 custody" of their child. Aubry, a model, was not reportedly interested in receiving money from Berry.

When a couple are not married Orange County custody issues may become more complex than they might otherwise be. In this particular case, the fact that the father is foreign (Aubry is Canadian, according to the website Monsters & Critics) adds a further potential twist to whatever Los Angeles or Orange County custody agreement the couple may have worked out. Significantly, celebrity website TMZ, quoted by The Huffington Post, describes the couple's arrangement as "a temporary custody agreement," adding: "there is no long-term custody arrangement or property settlement agreement."

Without wishing either half of the couple ill, it seems important to point out that situations like this are fraught with danger for both parties. It is exactly in custody and visitation cases such as this - ones where a number of significant issues remain to be resolved and a final agreement is yet to be reached - that the advice of an experienced Orange County custody and visitation attorney is essential.

Even if you and your ex are not married, an Orange County family law attorney can offer sound advice on the best way to structure a California child custody and visitation agreement so that your parental rights are protected to the fullest extent of the law. Spelling out both parties rights and obligations in a clear, enforceable way is an important element of a California custody settlement. However amicable a break-up might initially be, leaving such issues to chance over the long term is never a wise approach.


Monsters & Critics: Halle Berry is Single Again

The Huffington Post: Halle Berry & Gabriel Aubry SPLIT: Break-up for Actress & Model

Bookmark and Share
November 10, 2009

'Community property' can have a very broad meaning, especially here in California.

The ongoing Southern California divorce case of San Diego real estate mogul John Moores and his estranged wife Rebecca took a new twist recently with the two sides arguing over whether one of Mr. Moores' companies was capitalized with joint funds and, therefore, subject to California's community property laws.

At issue, according to the San Diego News Network, is JMI Guaranty LLC, a lending company John Moores set up to finance his "various real estate projects." Rebecca Moores claims the $14 million in seed money used to start the company came from the couple's joint funds. The dispute, if it drags on, has the potential to affect financing for a variety of real estate developments.

The high-profile Southern California divorce case highlights the complexities of California community property law. Consulting with a Southern California family law attorney is a key step in making your way through this unfamiliar area of divorce law, even when the stakes are far lower than the $1 billion-plus dollars the Moores family is reportedly worth. As the Moores' case demonstrates, dividing up assets is often not as simple as it might seem - particularly when disagreements arise over what, exactly, constitutes a joint asset.

Seeking the advice of an experienced Southern California divorce lawyer is a crucial first step in navigating a lengthy, and often complex, process. Revelations about the Moores case, for example, have been dribbling into the media for months, even though the case is not scheduled to go to court until December. The case has already led John Moores to initiate the sale of one of his highest-profile assets: the San Diego Padres baseball team. Having a skilled Southern California family law attorney in your corner can be a crucial step toward making this legal process less onerous.


San Diego News Network: John Moores divorce hearing could affect JMI project financing

Bookmark and Share
October 13, 2009

When do you need a Prenuptial Agreement?

A Prenuptial Agreement is an agreement which couples use to determine how their assets will be divided in the event of a divorce. You may want to consider a prenuptial agreement if you....

1. Have a separate property family business: With a prenuptial agreement, you can draft an agreement to prevent your spouse from acquiring an interest in the appreciation of your separate property business. Otherwise, your spouse may be entitled to half of the value of the business.

2. Have substantial separate property assets: Similarly, if you own separate property assets such as real estate, you may want to draft language in a prenuptial agreement which safeguards your separate property interest in the appreciation of the property.

3. Have children from a prior relationship: You may also want to consider drafting a prenuptial agreement if you have children from a prior relationship. In addition to a will or trust, a prenuptial agreement can back up the terms of your will by delineating the assets you do not wish your spouse to inherit upon your death.

Bookmark and Share