San Luis Obispo Property Division Lawyer
A Divorce Law Firm That Aggressively Works to Protect Your Assets
When you are going through a
divorce, dividing assets fairly between you and your spouse can be a point of
contention. If both parties cannot come to an agreement on how to fairly
handle the division of assets, the courts will divide your property as
directed by California law. If you are currently working through a divorce,
our San Luis Obispo divorce attorney can keep you informed of your rights
and guide you through this difficult time. We have more than a decade
of experience in
family law and can help to ensure that your interests are not overlooked.
Experiencing problems with property division? Do not hesitate to call us
at (805) 980-9002.
Community and Separate Property
California is one of ten states which classify all property owned by a
spouse as either community property, which is owned by both parties equally,
or separate property, which is wholly owned by one spouse. During divorce
proceedings, community property is divided equally between each party
while each spouse is entitled to keep assets classified as separate.
Not every possession is capable of being split between spouses and property
division does not necessarily mean that an exact division of all property
physically occurs. Generally, each spouse will receive a share of the
total estate equal to the value which they are awarded. All debts such
as mortgages, car loans, and credit card balances are also counted along
with assets and included in the division of property.
In California, property which either spouse acquires while married is almost
always considered to be community property and thus owned by both parties.
Separate property can include assets which were:
- Acquired before divorce is completed but after separation
- Clearly and independently owned before the marriage
- A gift or inheritance from a third party
- Acquired by directly exchanging separately owned property
- Derived from separate property which increased in value
Protecting Your Assets
When dividing assets, the line between community and separate property
is not always clear. Most marriages contain an instance where one spouse
contributed or added value to the personal property of their partner.
For example, a spouse might deposit funds into what was previously a separate
The date a couple is considered to be separated can also be subjective
and if couples cannot agree, a date will be determined by a judge. An
ambiguous date of separation can call into question the status of property
acquired near the end of a marriage. The process of asset division can
be extremely complicated and an attorney from our firm can provide legal
advocacy to ensure you receive your fair share of total assets.
Due to the nature of property division, a spouse may try to hide or undervalue
the total worth of their assets. It is illegal to engage in this sort
of manipulation and doing so can have strict penalties. When going through
a divorce, it is important to thoroughly document all property and accurately
appraise all assets. If you think your spouse has or is planning to shield
their assets from property division, our frim can take the appropriate
steps to see that your interest are protected.
Secure Compassionate Legal Advocacy
Going through a divorce can be emotionally and financially devastating
and when you need answers, our San Luis Obispo divorce attorney is here
for you. Our firm takes a client-centered approach to matters of family
law and we are available to answer your questions at any time of the day.
When your future is on the line, our property division lawyer will work
to provide you with clear legal options so that you can begin to move
on with your life.
Schedule an initial consultation
and talk to a lawyer about your case today.