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Severability of Provisions in Prenuptial Agreements
The Court of Appeal has ruled that the invalidity of a spousal support waiver does not necessarily make the remaining provisions of a prenuptial agreement ineffective. Rather, the trial court must consider whether the remaining provisions may properly be severed and enforced.
New Court Decision on Separate Property Issues
The Court of Appeal made several rulings in a recent case that clarified the law on the tracing of separate property to a community asset and on reimbursement and credits for a spouse’s exclusive use of the marital residence while the divorce case was pending.
Marital Ownership of Business Goodwill
The Court of Appeal has held for the first time that a spouse’s professional “book of business” is a community asset subject to division in a divorce case. Marriage of Finby (Dec. 18, 2013) No. G046814. In Finby, the parties were married between 1995 and 2010. The wife was a financial advisor who had worked for UBS until 2009, when she was hired by Wells Fargo as a managing director of investments.
What Is the Date of Separation?
In Marriage of Davis, the Court affirmed the importance of the date of separation in divorce. Segregating finances signaled intent, not physical separation.
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