Roseville Property Division Attorney
Community Property in California
California is a community property state in regards to how property is divided in the event of a divorce. While there are other states that follow the guidelines of community property, each can set its own standards for how this is specifically done. For a couple that is divorcing in the state of California, it is important to be aware of the regulations. It is also advised that a Roseville divorce lawyer is consulted to better understands the legal side of these cases.
Over the time span of a couple's marriage, numerous assets can be acquired. At the time of the divorce it can be challenging to determine how these should be broken up. A couple can work together to help decide some of these areas, but it also falls to the court to determine what is considered fair. A couple may be able to consider some assets separate property but the court may carry a different view of how the division should take place. For a couple that cannot work out an even division, the case can go to trial.
Understanding Community & Separate Property
Property can be acquired in a number of ways for a couple and this will be useful in determining who can keep what. California looks at property in two ways. It will either be labeled separate property or community property. In order for property to be labeled as separate, it must have been acquired by one of the individuals prior to entering into the relationship. Separate property may also be property that is gained during the marriage through inheritance or a gift that is specific to one of the individuals. Anything else that is gained during the time of the marriage will be considered the community property of the couple. This will be true even if one of the individuals made substantially more than the other. Community property is based on the marriage and not necessarily the financial contribution of each person.
Property will generally include real estate, vehicles, stocks, bank accounts, pensions, life insurance and personal items such as home furnishings. Property can include a wide range of items and it is important that these are all adequately assessed and given a value. This will be needed to make sure that the division is fair. The Schedule of Assets and Debts form will need to include both community property and separate property. Once community property has been established, an even divide will be made. This is a division that is based on overall value and not necessarily an exact division of each item.
What happens to debt?
Debt will need to be considered during the division property. Since the even division will include the overall value, debt is factored into this. One spouse may receive a greater value of property but also be given more of the debts to deal with. Debt can be a tricky issue in divorce cases and it is best to work with a Roseville divorce attorney to resolve these matters and build an effective plan.
At our firm we understand the many laws that apply to divorce cases, including issues of property division. We have an extensive background in family law and have guided many individuals through the process of divorce. Our firm will work with you to determine assets and how they should be divided. We can assess both community and separate property to allow a smoother transition. We will look out for your main interests in the divorce case to ensure that you are not shorthanded.