Tag Archives: Sara Milburn

Tracy McKenney named President of Collaborative Divorce Solutions of Orange County

A Different Way to Divorce

 

New board named to serve 2016-2017 term

August 4, 2016
 Contact: Gayle Lynn Falkenthal, APR
619-997-2495 or gayle@falconvalleygroup.com

(Irvine, California) – Tracy McKenney, CDFA, CFP, has been named President of Collaborative Divorce Solutions of Orange County for the 2016-2017 term. McKenney is a Certified Financial Planner and Certified Divorce Financial Analyst in private practice based in Irvine, California.

Joining McKenney on the 2016-2017 Board of Directors are:

  • President-Elect: Therese Fey
  • Vice President: Patrice Courteau
  • Secretary: Diana L. Martinez
  • Treasurer: Leslee Newman
  • Advertising and Marketing Chair: Yaffa Balsam
  • Membership Chair: Marvin L. Chapman
  • Training and Education Chair: Suanne Honey
  • Speakers Bureau Co-Chairs: Carol Hughes and Bruce Fredenburg
  • Website Chair: Sara E. Milburn
  • Member at Large: Jann Glasser

“It is important to me to be involved in an organization like Collaborative Divorce Solutions of Orange County. Collaborative Divorce represents a significant advancement in resolving divorce respectfully,” said McKenney. “Going through a divorce is in some ways harder than dealing with the death of a loved one. It worsens when the process is dragged out through contentious, time-consuming and costly litigation in court. In so many cases, couples can avoid the damage of a court battle, even when they aren’t sure they … Read More “Tracy McKenney named President of Collaborative Divorce Solutions of Orange County”

Community Property and Separate Property: What’s the Difference?

Laws governing real estate can complicate divorce matters. Be sure to get expert advice before making financial decisions.

 by Sara E. Milburn, Attorney at Law
Milburn Family Law, Laguna Beach, California

Many of my clients come into my office with the mistaken belief that after a long marriage, everything they own together is community property, and they are going to leave the marriage with one half of this property. Sometimes it is a shock for them to learn that is not necessarily the case.

Property issues in a divorce can be very complex. These are the basics to help you start working through your decision-making process.

Separate Property

In California, separate property is defined by Family Code 770. Separate property of a married person includes all of the following:

  1. All property owned by the person before the marriage,
  2. All gifts or inheritances received.
  3. The rents and profits the separate property earns.

Where this can become confusing is when the spouse who owns the separate property uses his time and talent (called “community effort”) to cause an increase to his or her own separate property. This must be more than a diminutive amount of time or effort. The court has wide discretion here. If the separate property was a stock account and the spouse was a … Read More “Community Property and Separate Property: What’s the Difference?”