Luxuries are anything that is not necessary to one’s daily living. Accordingly, any debt that is incurred for merchandise or services that are not essential to your daily living may be up for discussion during a marital estate evaluation. You should note, though, that the timing of the purchase of these items will be specifically at issue.
If the debt was incurred prior to your separation, it will be assumed that both parties approved the debt and, accordingly, the debt will be included in the marital estate. However, if the debt was incurred after your separation, it will be assumed that there was no mutual agreement to incur the debt; thus, these particular debts will not be included in the marital estate. A skilled Los Angeles family law attorney can discuss further with you the likely status of the various items in your possession.
That said, local laws may actually contradict economic principles. For instance, one jurisdiction can mandate a specific date of valuation that provides that any debt that was incurred prior to this set date is considered to be part of the marital estate and any debts incurred thereafter are not.
Then again, some jurisdictions may have a default valuation date (typically the date of the divorce), and that date is hardly ever changed. This means that anything that happens to a couple’s finances prior to the divorce is considered to be marital. Jurisdictions can differ greatly on the applicability of the principles, even within the same state from county to county. If you need a Los Angeles family law attorney, please don’t hesitate to call for a free consultation.







