{"id":2918,"date":"2021-01-06T06:52:43","date_gmt":"2021-01-06T06:52:43","guid":{"rendered":"https:\/\/lawintheoc.com\/?page_id=2918"},"modified":"2022-01-21T11:29:05","modified_gmt":"2022-01-21T11:29:05","slug":"division-of-marital-assets","status":"publish","type":"page","link":"https:\/\/lawintheoc.com\/division-of-marital-assets\/","title":{"rendered":"Division of Marital Assets"},"content":{"rendered":"\t\t
The division of a couple\u2019s assets and debts is considered one of the\u00a0most difficult and complex factors in a divorce<\/b>. Marital property includes<\/p> An experienced attorney for division of marital assets in Laguna Hills, CA can\u00a0diffuse some of the feelings and emotions<\/b>\u00a0that can come up during this phase of a divorce and bring a common-sense approach to the division of assets and property, while also advocating and\u00a0protecting the rights and wishes of his of her client.\u00a0<\/b>Call\u00a0949-716-2102<\/a>\u00a0to get in touch with our\u00a0experienced Laguna Hills family attorney in California<\/a>.<\/p><\/div><\/div><\/div> Most people are not aware of the types of divorce that exist. It is generally understood that divorce is simply a legally married couple deciding to call off their committed relationship then somehow split up their belongings with legal help. There is more to divorce than most people anticipate. In this article, we will discuss the different aspects of divorce, and we will give some pointers for readers to consider when going through a divorce themselves or when someone they know is.<\/p> The first thing to consider when going through a divorce is how you perceive it when it\u2019s happening. Understanding the form of divorce you and your spouse prefer can make property division a lot easier than it seems.<\/p> If you\u2019re going through a divorce, it is important to have a reliable attorney by your side. Schedule a consultation with an experienced California divorce and property division attorney<\/a> today!<\/p> Uncontested divorce involves one or both parties going straight to the court upon fully agreeing with each other to file the necessary divorce papers. There are no trials in an unconsented divorce which makes the process easier considering there are fewer costs and time involved since everything is taken care of by the court.<\/p> Contested divorce involves many disagreements between both parties about property division, whom the children will live with, and spousal support. In this scenario, each spouse has an attorney to support them and a judge that oversees the entire process until the divorce is pretty decided. Contested divorce tends to be time-consuming, costly, and emotionally draining.<\/p> Other divorces fall somewhere between an unconsented and contested divorce. In these scenarios, collaborative options such as mediation and arbitration are provided for the couple to be represented by the counsel without covering all costs involved in a trial.<\/p> The three(3) options for divorce listed above can work for any couple depending on the intensity of disagreement faced and how willing each spouse is to work together until a fair and ultimate solution is reached.<\/p> If you\u2019re planning to get divorced, it is important to have a reliable attorney by your side. Schedule a consultation with an experienced California divorce and property division attorney<\/a> today!<\/p> Debt is also subject to division. Marital debts, also referred to as liabilities, can include:<\/p> Usually, any\u00a0assets or liability accumulated during the marriage\u00a0is considered marital and subject to division. If you need help determining which of your debts are divided in a divorce, call our\u00a0trusted divorce attorney in Laguna Hills, CA<\/a> today.<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/section>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t \n\t\t\t\t\t\tNeed help regarding child\/spousal support, custody dispute, restraining order, property divisions, or family business? Our Laguna Hills family law and estate planning attorneys will help secure your future!\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t Division of property is a key area of concern during a divorce. It is inevitable that the question, \u201cWho takes the house?\u201d will be raised.<\/p> In the United States, state law dictates the division of property upon divorce. The decision will depend on whether the parties live in a separate property state or a community property state.<\/p> Separate properties<\/a> are the properties that belong to you and have belonged to you before you got married. Examples include inheritances or gifts of pension from your parents you\u2019d been gifted with pre-marriage.<\/p> Community property<\/a> \u2013 Everything that both parties earned and acquired throughout being married. Examples include one party\u2019s hard-earned money that was placed into a joint account during the marriage<\/a>. Another example would be a house bought with money funded by both spouses during the marriage.<\/p> \u00a0<\/p> Educating yourself about the types of properties you and your spouse are entitled to can make dividing property easier upon divorce.<\/p> If you\u2019re planning to get divorced, it is important to have a reliable attorney by your side. Schedule a consultation with an experienced California divorce and property division attorney today!<\/p> California statutes and case law provide for an\u00a0\u201cequitable distribution\u201d of marital assets<\/a> and liabilities.<\/b>\u00a0Marital property is not necessarily divided equally, but equitably<\/b>\u00a0or fairly between parties. Courts decide equitable distribution before determining the possibility of\u00a0spousal support<\/a>.<\/p> Most often, the division process begins with\u00a0identifying what property and assets need to be divided<\/a><\/b>\u00a0between spouses. All property or assets acquired throughout the marriage can be subject to division. There are some exceptions:\u00a0inheritance, gifts, or certain property identified in a pre-nuptial agreement<\/b>. Once the property is rightly identified, it is then divided equitably.<\/p> Couples are giving the\u00a0option of working out a plan for property division on their own<\/b>, and as long as it is reasonable, the court typically approves the couple\u2019s wishes. The court will intervene, however, if the couple is incapable of coming to a reasonable agreement and will divide property as it sees fit.<\/p> When doing so, the court will look into many factors, including:<\/p> Property division\u00a0should not be seen as a way to \u201cget back at\u201d or gain revenge on a spouse<\/b>\u00a0who did something to betray you.\u00a0California is a no-fault state<\/a>\u00a0and will not consider either spouse\u2019s behavior to come to a decision regarding property division.<\/p> When there is\u00a0business involved with the marriage<\/a>,\u00a0the division process becomes even more complicated<\/b>. Sometimes, divorces in which one or both spouses owns a business require a financial expert to assist in the valuation of the business.<\/p><\/div><\/div><\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t The answer is \u2013YES! And here are some tips to get you started:<\/p> Collaborate and make a list of all the items that you both own jointly. Doing this can help you both identify who invested more in what or who news which item more than the other does. Properly discussing your options can save both parties the hassles and costs of making these big decisions without collaborating and making fair decisions that both parties agree on.<\/p> Considering that all the property you both own costs money, it would be beneficial for both parties to discuss and agree on the prices of owned items properly. In cases where you\u2019re both not aware of the current prices in the market or not sure of the value of your property, you can get opinions from a third party with the expertise.<\/p> When going through the list of properties made, allocate items to each other based on reasons such as who needs it more or who paid the most for the item. It would be a good idea to start allocating from the property of the highest value.<\/p> In the scenario when you and your spouse have already decided and agreed on the decision of properties, the court process will likely be more straightforward for you unless there are some background checks required. Dividing property before signing papers with the court can save both parties a lot of time and money.<\/p> Typically, most US states don\u2019t consider the fault of divorce in the process of dividing marital property upon divorce. For example, if your spouse cheated on you and that is the cause of your divorce or one of it, that doesn\u2019t guarantee that you could get more of the property share than your spouse would. However, faults may be considered as a factor when discussing if one party should continue the other or not.<\/p> A divorce can happen to anyone, any time and anywhere, even if it was the last thing you thought about on your wedding day or during the years you spent being married. You must educate yourself and someone you know about the steps to take and consider before going through the worst.<\/p> \u00a0<\/p> If you\u2019re going through a divorce, it is important to have a reliable attorney by your side. Schedule a consultation with an experienced California divorce and property division attorney today!<\/p><\/div><\/div><\/div> Here at Trevino Law, we advocate about family divorce and give our all to make sure that people who come to us with questions leave with all the answers they need. Schedule a consultation with an experienced California divorce and property division attorney in our Laguna Hills family law firm today!<\/p> If you are\u00a0<\/span>going through a divorce<\/span>\u00a0and have questions about the division of assets and debts, we can provide assistance. Please don\u2019t hesitate to contact Trevino Law, Inc. at\u00a0<\/span>949-716-2102<\/a>\u00a0or\u00a0<\/span>use our online contact form<\/a>\u00a0for more information.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":" The division of a couple\u2019s assets and debts is considered one of the\u00a0most difficult and complex factors in a divorce. Marital property includes houses, cars, retirement benefits (pensions and 401k plans), cash, business interests, stocks, bonds, bank accounts, personal property, and other things of value. An experienced attorney for division of marital assets in Laguna …<\/p>\n\u00a0<\/h2><\/div><\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
Types of Divorce in California<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
Uncontested Divorce<\/h3>
Contested Divorce<\/h3>
Types of Property Each Spouse Owns<\/span><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t\t\t\n\t\t\t\t\t\t\tWe help you protect what matters most.\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t
<\/h2>
Division of Debt in a Divorce Proceeding<\/h2><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
Separate Property<\/h3>
Community Property<\/h3>
Frequently Asked Questions<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
Equitable Distribution of Marital Assets & Liabilities<\/h2>
How does the division process start?<\/h3>
How is property divided in divorce?<\/h3>
How are businesses divided in divorce?<\/h3>
Is it possible for me and my spouse to do the property division?<\/h3>
Make a list of your belongings collaboratively.<\/h4>
Place values on your properties.<\/h4>
Allocate properties listed.<\/h4>
Get approval from a judge.<\/h4>
My spouse\u2019s behavior caused our divorce \u2014 does that impact the property share?<\/h3>
\u00a0<\/h2><\/div><\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
Why You Need a California Property Division Attorney<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
Call Our Laguna Hills Divorce Attorneys for Division for Marital Assets!<\/h2><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t