First Epistle to Timothy in Old Testament starts "For the love of
money is the root of all evil." It goes without saying that the root
of most divorces is discussion over money, or more accurately, the
division of community property. And therein lies another saying worth repeating: the devil is in the details.
Income earned after the date of the separation is treated by the court
as separate property. Therefore, if this money is used to pay what is
considered by the courts to be community debts, then (with certain exceptions)
one may be entitled to reimbursement at the time of the division of community
property. This reimbursement is defined as an "Epstein Credit".
Accounting for community debts paid by one party with separate income is
crucial. To prove your Epstein credits you must have copies of bills showing
amount of the indebtedness prior but close to date of separation along
with monthly statements thereafter and cancelled checks showing your payments.
Consult with your attorney to assist you in filling out an Epstein Chart
as an exhibit to present to the court.
Questions? The Buncher Law Corporation can help.
Contact us to discuss your case with an Irvine divorce attorney.