California Marital Settlements: April 1998 Summary

Legal Developments

Note: There were no substantive legal developments in the April 1998 update. Below are summaries of new features in the California Marital Settlements software.

New Product Features

Defined Contribution Plans: The scope of the Retirement Rights section of the program has been expanded to cover private retirement plans of the defined contribution variety - for example, 401(k) plans and ESOPs. New questions, LAW, and output language have been added so that the program will walk you through the process of dividing this additional type of retirement benefits.

Residence Expenses: When the family residence will continue to be owned by both parties, you now have greater flexibility in determining which party will pay the expenses; you can now shift the burden to the party not in possession to pay insurance premiums and/or any other specific expenses you want to list in the agreement.

Additional Subsection in Residence Section: You now have the option to add your own subsection to the Residence section of the document, even if one of the parties will be retaining the residence as his or her separate property.

Termination of Health Insurance for Children: You now have the option to edit the language regarding when each party's duty to provide health insurance coverage for the children will terminate, so that you can modify the termination conditions supplied by the program, and/or add your own.

Express Statement If No Children: When there are no children of the marriage, or adult children but no minor children, the factual information section of your document (if included) will now set forth that fact expressly.

Coin Flips: The default language presented in the questions regarding Furnishings Specified and Photographs Specified, each of which involves using the flip of a coin to determine which party has first choice of certain property items, has been revised so that it no longer refers to a "winner" and a "loser" of the coin flip.