The divorce process by itself can put a tremendous strain on you and your family members’ lives. Add in the complications of California’s varying laws, and you end up in a situation that most people aren’t able to resolve without the assistance of an attorney.
Besides dissolution of the marriage, you have to consider questions such as how you are going to divide the property, which isn’t always as simple as you might think. In order to avoid expensive mistakes, you need a Rancho Cucamonga Division of Community Property Divorce Lawyer to make sure it’s carried out fairly and legally.
While we all have our own ideas of which things bring value to our lives, when dividing property it’s important to understand exactly what is considered property.
When it comes to divorces, in particular, property is defined as items that can be purchased or sold such as houses, cars, or clothing, as well as things that have value such as bank accounts, cash, businesses, and even patents.
It is likely you have belongings that are valuable to you or the other party which don’t fall into either category. Determining which of those items must be divided and the best way to separate them requires the expertise of a California divorce family law attorney such as Laurence J. Brock.
Because California is one of a handful of community property states, both parties are considered equal partners of one legal community.
Most of the income you earn and the assets you acquire during the marriage belong to both spouses.
On the other hand, this also means that you share the responsibility of debt accumulated during the marriage as well.
Although there are exceptions to what is considered community property such as instances where you may have owned property before you were married, or where you may have received property as a gift, the majority of the property acquired during your marriage will need to be divided equally.
In addition to community property, items might be considered separate property, quasi-community property, or even mixed community and separate property. This is where the division of property becomes even more confusing. While separate and community property seem pretty simple to understand (and thus, easier to separate), quasi-community property and mixed separate and community property situations explicitly require the assistance of an attorney.
When it comes to distinguishing which items belong to you or the other party, these aren’t questions you should seek to answer or solve on your own or leave in the hands of someone who may not have your best interests in mind. Even if you think you know which category all the property falls into, it’s best to ask a divorce lawyer who has experience in these areas.
Dividing the property seems cut and dry but in divorce cases where emotions are bound to be in the forefront, it can become rather complicated.
Adding to the complexity is the legal process which first involves identifying all the property, determining the legal character of the property, and then placing a reasonable value amount on each item.
This process requires not just knowledge of the process and laws, but decades of experience in accounting, contract law, and employment law that the Law Office of Laurence J. Brock brings to each divorce and family law case.
Furthermore, division of community property involves extensive research and investigation as well as a considerable amount of documentation.
Divorces can be some of the most complicated and stressful events many people have to face in their lifetimes. Most parties in a marriage dissolution don’t want to undergo the additional heartache and burden of thinking about money or property and would rather avoid the situation altogether.
However, it is in your best interests to have a qualified and experienced Rancho Cucamonga Division of Community Property Lawyer at your side to make sure the property is divided as it should be, and you don’t end up paying more than you are legally obligated to pay. Contact The Law Office of Laurence J. Brock online or call us at (909) 466-7661 so we can help you get started.