During the process of divorce, separating spouses will need to determine how their assets and property will be divided between them. California’s community property laws state that a married couple’s assets and debts acquired during marriage belong equally to both spouses, and therefore must be divided equally during divorce. Couples that cannot come to an agreement can seek to have the courts step in and make a decision on their behalf, either through arbitration or a judge.
Whether you are seeking to divide your assets with your spouse out of court or are looking to pursue litigation, it is imperative you retain the services of a skilled Santa Clara County divorce attorney to protect your rights and maximize your chances of securing a favorable outcome. At Magdalena Law Group, our knowledgeable San Jose divorce lawyers understand the difficulty of your situation and can help simplify this process on your behalf. Having earned a 10.0 Superb Avvo Rating and a ranking among the “Nation’s Top One Percent” of attorneys by National Association of Distinguished Council for our unmatched advocacy, we can provide the strong guidance you need to sort through this complex process with ease.
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One of the main steps in dividing assets during divorce involves determining whether or not property is martial or separate. While many erroneously assume that all assets are community property, some assets such as property that was owned by one spouse before the marriage or acquired by inheritance during the marriage is that spouse’s individual separate property and cannot be claimed by the other spouse.
Separate property can also include:
Separate property can sometimes be inadvertently converted to community property if it is combined or “comingled” with marital property. For example, a spouse’s individual savings account can become community property if the other spouse deposits money into it during the marriage. Likewise, a separately owned house can become community property if both spouses pay its mortgage and other associated expenses.
Dividing assets can be an extremely complex aspect of divorce and can expose spouses to numerous pitfalls without proper legal support. Our firm’s Santa Clara County divorce lawyers can help you properly categorize and value your property, protecting your from costly errors that could lead you to inadvertently lose your right to your assets. From assigning the monetary values of assets to deciding how your assets will be divided, we can handle the legal heavy lifting on your behalf so you can rest easy during this emotional time.
Call (408) 601-4439 or contact our office online to discuss your situation with one of our knowledgeable San Jose divorce attorneys today.
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