Glendale Property Division Lawyer

Divorces can be overwhelmingly difficult to handle emotionally, psychologically, and financially. There are numerous decisions to make and loose strings to tie up, including those regarding your property and assets. For long-term marriages, it can be especially difficult to determine how to fairly divide your assets. If this applies to you, a Glendale property division lawyer can help.

Factors that Determine How Property is Divided

The first aspect that is considered when property is being divided is whether it is community property or separate property. Community property refers to anything that was acquired or owed during the time of the marriage. In California, debts are included in what is considered community property.

The process of dividing property follows these general steps:

1. Identify all property and classify it as community, separate, or mixed property.
2. Determine the value of community property.
3. Divide the property through mutual agreement or based on a judge’s decision.

Separate Property vs. Community Property

It can be difficult to determine what your separate property is and what your community property is. While some assets were clearly obtained before the marriage, such as inherited properties, others may not be so clear.

Savings accounts and businesses are examples of properties that can be confusing to classify because they may have been obtained before the marriage but shared during the marriage. When this is the case, each situation is reviewed with close attention to the specific circumstances of the marriage.

Such property is sometimes referred to as mixed or hybrid property. While it can be difficult to divide, there are a few factors to take into consideration to help the process. These include:

• Each spouse’s contribution toward the hybrid property.
• Each spouse’s current relationship towards the hybrid property.
• Any evidence of separate contributions from each spouse.

Prenuptial Agreements

A prenuptial agreement is a contract that two individuals create prior to getting married. This contract addresses how they want to divide property, assets, and finances in the event of a divorce. Some couples may choose to create a prenuptial agreement to save money on attorney and court costs if they decide to divorce in the future.

While Glendale, California says that divorcing couples must divide property evenly unless otherwise determined by a judge, decisions set forth in a prenuptial agreement can override the general equal division rule.

Separate Property Can Become Community Property

In some cases, separate property may become community property in a marriage. This is often the case with bank accounts or other financial assets. It can also apply to property that was acquired by one spouse before the marriage but which both spouses contributed to financially throughout the marriage. Ultimately, if an agreement cannot be reached by both spouses about how to divide such property, a judge will review the details and make a decision.

How an Asset Attorney Can Help

Divorces can quickly become confusing and complex due to the inordinate amounts of legal paperwork and processes that must be completed. When it comes to identifying and dividing property and assets, an attorney can make the process smoother for you.

In addition to helping you determine what property of yours may be considered community and what is separate, an attorney can also negotiate with your spouse’s attorney and the judge presiding over your case about what is fair for you. They can also represent you in court, offering legal and emotional support in an unfamiliar setting.

FAQs

Q: What Property Is Subject to Division in a Divorce?

A: In California, community property is subject to division in the event of a divorce. Spouses may own two types of property: community and separate. Community property refers to anything that you have acquired, including debts, during the time of your marriage. Sometimes, it can be difficult to determine what is community property and what is separate. However, an experienced lawyer can help you break it down.

Q: Is Property Divided Equally in a Divorce in California?

A: At the outset, property must be divided equally in a divorce in California. However, there are certain factors that may alter the 50/50 percentage of division, such as whether abuse was present in the marriage. There are also various ways in which a judge may achieve equal division of assets. For example, if one spouse acquires the shared home, the other spouse may receive assets or finances that are equal to the value of the house.

Q: What Is Considered Separate Property in a Divorce?

A: Separate property is considered anything that a spouse acquired or owed before they were married. It is also possible for spouses to classify assets obtained during the marriage as separate property, but this must be done through a specific agreement or property transfer. There may be confusion over what constitutes separate property if spouses disagree on the date of separation, but separate property is, otherwise, fairly simple to determine.

Q: What Are California Distribution Laws?

A: The general California distribution law is that all community property is divided equally. The way this happens may vary based on each couple’s situation, but a judge will strive to ensure the division is equal. Spouses are legally able to come to a different agreement, but they must be in total agreement about the terms.

Khalaf Law Group

Khalaf Law Group has extensive experience in assisting those who are going through a divorce ensure that the division of their property is equal and fair. It can be difficult to determine how to divide shared property or even what may be considered shared property. We understand the unique challenges associated with divorce, and we are ready to answer any questions you may have.

It is normal to feel anxious as you navigate the details of a divorce case. While it may seem overwhelming, it is important to remember that you have a voice in the decisions that are made about your family, finances, and future. Contact us today to learn more about how an asset attorney can help ensure that you receive what you deserve from your divorce.