California law states that all property and debt acquired during a marriage are community property and should be split equally in the event of divorce. Separate property includes assets or debt that one spouse brought into the marriage such as real estate or student loans that has not been “comingled” with community property.
It should be noted that dividing community property equally in divorce does not mean that everything is automatically split 50-50. Rather, if two parties cannot reach agreement on property division, the court will divide their community property in a manner that it is deemed fair and equitable.
Property division is one of the most difficult and often contentious aspects of divorce. It is imperative that you retain the services of a knowledgeable and experienced family law attorney who will protect your rights.
One of the biggest concerns among individuals facing divorce is the challenge to remain financially solvent. At the Law Office of Ralph L. Williams in Vista, we strive to put our clients in the best possible position to begin their post-divorce life, in large part by protecting their interests in matters regarding the division of marital property.
Many couples facing divorce are also contemplating filing bankruptcy. We can review your situation and explain why it may be better to file bankruptcy before you file for divorce.
Mr. Williams has more than 40 years of family law experience, including extensive experience representing individuals in complex property division matters. Just determining what is community property and what is separate property can pose a challenge. Mr. Williams has a thorough understanding of how assets get classified — and incorrectly classified.
We work to resolve property division matters outside of court. It doesn’t make sense to spend $3,000 in attorney fees arguing over a $1,500 asset. Of course, some disputes cannot be resolved without litigation. In those instances, we are always prepared to advocate aggressively on your behalf.
If you have amassed significant assets during the course of your marriage, you may need to divide multiple homes, retirement accounts, pensions and other complex holdings. In some cases, there may also be a family business to divide. We will carefully analyze every asset. If necessary, we will work with business valuation specialists, real estate evaluators, financial accountants and others to obtain accurate values of non-liquid assets.
We welcome the opportunity to answer your questions regarding property division and recommend the best course of action. Call 760-726-3540 or use our contact form to schedule a free consultation with an experienced property division lawyer.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. Our office is located across from Vista Court house, take Easement road off the East side of So. Melrose Drive at traffic signal opposite Starbuck and on same side of street as Jack In the Box and Petco.
If you have questions regarding family law or bankruptcy, contact the Law Office of Ralph L. Williams for a free 30-minute consultation.
We can be reached at 760-726-3540 or through our convenient online contact form.