PROPERTY DIVISION
California is a community property state. This means that when you get married, all assets acquired during the marriage are presumed to be community property or owned jointly by the spouses - each having a 50% interest in the property. There are many exceptions to this presumption. For example, an inheritance during marriage is separate property - it stays the property of the inheriting spouse. The other spouse has no ownership interest in that inheritance unless it is commingled in some manner.
Earnings during marriage are community property. Furthermore, anything spouses purchase during marriage with community property earnings are presumed to be community property.
The purpose of dissolution laws in California is to try and reach a fair and equitable settlement and division of the marital estate. But, in reality, no two people walk out of a divorce feeling they each got everything they wanted. The best divorce outcomes are when attorneys on both sides work together, and when the spouses agree to compromise. Unfortunately, given the anger and hostility that permeates most divorces, compromise and negotiation are not always possible. When residences, businesses, stocks or retirement plans are involved, it is very important to have competent legal advice.
Regardless of the property division situation in your divorce, we can help. At the Urick Law Center, we will review your entire marital estate and discuss with you all appropriate options for its division and allocation. Many times, assets can be maintained entirely by one party in exchange for offsetting the community interest against another asset the spouse may not wish to keep. Only a competent family lawyer can assist you with proceeding on these matters.
Whatever the level of your need may be, call the Urick Law Center. Don't take chances with your assets. Call us - 818-227-3378. We can help.
- All matters strictly confidential.
- All work performed by experienced, licensed attorneys - no paralegals!