Keeping Your Share Through Property Division
Separating your life from that of your spouse also means dividing up your property, assets and debts. Ideally, this would mean splitting everything equally. Unfortunately, it may not work out so smoothly. What you take away from your marriage can have an impact on your future. Working with a skilled lawyer can help ensure you have what you need to move forward with your life.
Property division is a game of give and take. At The Koblin Family Law Center, we understand this dynamic and will help you negotiate with your spouse for your fair share of your marital property. We regularly help people in Pleasanton, San Ramon and throughout the East Bay at all income levels, including those dealing with complex or high-asset divorces.
We know a relatively equal settlement can mean the difference between having to work your way back up to the financial position you enjoyed during your marriage and being able to move on at that same level. We are as invested in your future as you are and will protect your interests.
Division Of Community Property
In California, all property, assets and debt acquired during the marriage are considered to be community property and must be divided equally between the two parties. This may not include property each individual owned before the marriage, nor does it include inheritances or gifts received by one person or personal injury awards.
The simple way to proceed is for you and your spouse to work together to divvy up your possessions and assets. It may take some compromise on both of your parts, but doing this, even if the communication is handled between our attorneys and your spouse’s attorney, will benefit you both.
This method ensures both of you get more of what you want. If you are unable to agree on some or all of your property division issues, a family law judge will make these decisions for you. A judgment may result in neither of you getting your way.
We will sit down with you to review your goals and help you determine what property and assets are most important to you. We can work with you and your spouse or we can negotiate on your behalf. If we need to take your case before a judge, we are experienced trial lawyers and will aggressively fight for your rights in property division.
What Is Separate Property?
When spouses divide their assets in a divorce, it is normally only the community property that gets divided, not the separate property. Shared assets refer to everything a couple has gained during the course of their marriage, including real estate, business assets, retirement account accrual, vehicles and finances.
There are some exceptions to when something is community property. If a spouse inherited an asset, was gifted something specifically or was otherwise given something only for them during the marriage, it would likely qualify as a separate asset. Separate assets also include anything each spouse owned before the marriage. We can help you identify your separate assets and protect them during your divorce.
Are Assets Held Outside Of The State Considered Community Property?
Out-of-state community property is often known as “quasi-community property,” which refers to the unique legal space it sits in. California judges do not have any jurisdiction over out-of-state assets, however, they can force parties in a divorce to take certain actions at the risk of being held in contempt of court. While a judge cannot force someone to sell an out-of-state asset, they can award the other spouse other in-state assets that make up for the share of the value they are missing out on.
Why Asset Valuation Is Important
If you are not certain of the value of your community property, it can cost you dearly in your divorce’s asset division. Getting an asset valuation over any major asset, like real estate, is vital to ensure you keep your fair share in your divorce. With an accurate asset valuation, you can be sure that you are getting an equal portion of your community estate without giving up too much in the process. We can help you secure the valuation you need in your divorce.