If you are going through a difficult divorce in California, chances are that property and debt division is part of the hang-up. This can be the case even though under California law the “community property” concept was probably intended to make things easier by stating that a seemingly straightforward “50/50” split of assets is the rule to go by. Unfortunately, it isn’t always that simple.
There are a few factors that can complicate the determination of what is considered “marital property” and what should be subject to the 50/50 split contemplated by the community property approach to asset division. For example, in a fairly straightforward manner, “marital property” should be considered all assets and debts accumulated or incurred by the married couple during the marriage. But, what about property owned by one of the spouses before the marriage? If that property or asset was always kept separate, it may not be part of the marital property to divide.
The same is oftentimes true with inheritances. If structured correctly, one spouse’s inheritance – again, kept separate from the marital finances – may be considered separate property and, therefore, wouldn’t be part of the assets to be evenly split.
Working for fair results
At our law firm, we understand that our clients have a vision as to what they consider “fair” when it comes to property division and that they are ready for the hard work of getting through a divorce case in California. We work hard to get positive and fair results for our clients. For more information, please visit the property division overview section of our law firm’s website.