Best Affordable Upland Divorce Law Firm Taking on Child Custody/Support, Spousal Support/Alimony, Visitation Rights, Property Division and other Divorce Matters
Welcome to our Upland divorce lawyer website. Couples who file a often have a lot of property or debts. Before the conclusion of divorce, the couples may decide to divide the debts and property among themselves or seek the intervention of the court. Under the California law, any property that is acquired during the existence of marriage belongs equally to both parties. Therefore, during the divorce, such property is divided equally.
There are three steps that should be followed while dividing property after a divorce petition. First, separate and marital property should be identified and determined. Secondary, spouses should agree on marital property values. Lastly, the parties should decide on how to share the property.
Separate property and Community Property
Under California law, debts and assets accumulated during marriage are presumed to be community property. On the other hand, any property that a spouse acquired before marriage or acquired as a gift is considered to be separate property. Exchanges, earnings and profits emanating from separate property are also treated as separate property. In addition, if a spouse accumulates property after the date of separation, that property is separate. Date of separation can be proved by physical separation or any actions that show that spouse decided to terminate the marriage.
The date of separation can be a much contested issue, especially if after separation one spouse earned a lot of money. If the party fails to agree on date, depending on the evidence adduced, the court can decide on the date of separation. When the evidence of the spouses conflict, the court will most likely lean on the earlier date. Consequently, more property becomes community property.
Property can be partly separate and partially community. For example, a business that one party started before marriage and during marriage. In such case, drawing a distinct line between community property and separate property can become complex and frustrating. In case of complex property, spouses need to seek an attorney’s advice. Spouses who fail to decide on complex property may seek the intervention of the court.
Dividing the Property
Spouses can divide the property by selling the assets and sharing the proceeds. One spouse may also decide to sell his or her share to the other party. Spouses can also decide to jointly own property, even after the divorce. Although holding property together is not the best option, some couple opts to reserve a family home as long as children are young.
Contact Our Experienced Legal Team Now For All Divorce Law Matters
Please contact us now for free consultation for your divorce case.