DIVISION OF MARITAL PROPERTY IN A CALIFORNIA DIVORCE ACTION
One of the main issues in a divorce or legal separation is the division of community property. In California, any property acquired by you or your spouse during marriage will be divided equally. Property acquired by you prior to marriage or through inheritance is separate property and not subject to equal division. It is, therefore, important to identify the assets and debts of the marital estate and determine whether the assets are community property subject to equal division.
William D. Evans is a Long Beach marital property division lawyer with the expertise and resources needed to represent you in the division of your marital assets and obligations. California is a community property state which means each party is entitled to receive one-half of the real and personal property obtained during marriage and prior to separation. When your marriage is dissolved, all property so acquired and all debts and liabilities incurred during the marriage and prior to separation will be accounted for. Provisions must be made so that each party assumes equal responsibility for satisfaction of the marital debts and receives one-half the net value of the marital assets.
The achievement of an equal division of community property may become complex under certain circumstances. These include when one or both spouses operate a family business; are members of a partnership, limited liability company or professional corporation; or derive income from stock trading or other investments. Tracing, valuation and division of marital assets under those circumstances requires a sophisticated and experienced lawyer and expert witnesses. As the result of his experience and his strong relationships with many qualified professionals, William D. Evans, Long Beach marital property division attorney, can help you identify, value and divide the community assets and debts of your marriage and ensure that you receive one-half of the community property upon divorce.
Most married couples own a home, furniture and automobiles as community property. You and your spouse may also have checking and savings accounts, a stock portfolio, life insurance policies, rental property, and employment-related benefits such as stock options, pensions and profit sharing plans and retirement accounts. These must be itemized, valued and equitably divided as part of the division of marital property upon divorce. Having a skilled attorney and legal team on your side can make the process much easier and lead to a fair resolution of your property division issues.