California Divorce: How an Asset Division Attorney Can Benefit You
Divorce or dissolution of marriage can be a very emotionally charged time for all involved. When you are divorcing in California, there are a lot of moving parts and decisions to be made.
Hiring a California asset division attorney can help streamline the process and ensure that your rights and legal interests are protected. Learn more about California’s laws and how an asset division attorney can help you during your divorce.
Asset Division in California
Under California’s community property rules, assets and debts accumulated during marriage belong equally to both parties and must be equally divided.
Examples of community assets include:
- Marital income
- Financial accounts
- Insurance values
- IRAs/401(k)s/Retirement funds
- Joint Businesses
California spouses share community assets and marital debts as well. All debts accrued by either spouse during the marriage are community debts. This would include credit card bills, even if only one spouse had use of the card.
Why Asset Division Can Be Complicated in California
Adding up a couple’s inheritance and dividing it equally seems like a straightforward solution. However, legal complexities often hinder the process of splitting assets and debts.
For instance, suppose a spouse utilizes community funds to pay for separate assets obtained before the marriage. In such a case, the marital community may have a stake in the assets, even though they are considered separate assets by California family law.
When assets are intermingled, this may generate challenges; therefore, a spouse may wish to see an asset division attorney to safeguard their interests.
How an Asset Division Attorney Can Help
Asset division is one of the most exhausting aspects of a divorce. It can be difficult to know what you are entitled to and what your spouse is entitled to.
An asset division attorney will help you through this process by helping you determine what assets are marital property, what assets are separate property, and how much each asset should be divided between both spouses.
The attorney will help you navigate the complicated legal process of dividing up assets, including:
- Determining how much of an asset is separate property versus marital property
- Determining whether any prenuptial agreements need to be taken into account when dividing up assets
- Identifying debts that need to be paid off before dividing up assets (this may include paying off credit card debt or other obligations)
Contact an Experienced Asset Division Attorney at The Berman Law Group
At The Berman Law Group, we handle all aspects of divorce and family law, including asset division. We are committed to achieving results that work for your best long-term interests. Call us at (310) 788-3837 if you have any concerns regarding asset division or other complex family law matters.
We serve Beverly Hills, Los Angeles, Brentwood, Santa Monica, Pacific Palisades, and the surrounding Greater Los Angeles communities.