California Community Property Laws

California Community Property Laws
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Division Of Marital Assets

When a marriage or domestic partnership breaks down, it can be draining emotionally, psychologically, and financially. One of the more complex, but critical, phases of a divorce is the division of marital assets. In a financially competitive environment such as Southern California, it is particularly important that you consult with an experienced attorney to protect your interests in your assets.  These assets come in many forms. Common assets to be divided are:

  • Real estate
  • Bank accounts
  • Cash
  • Retirement accounts
  • I.R.A.
  • 401K
  • Stocks
  • Bonds
  • Automobiles
  • Sources of income such as pensions, SSDI and lawsuit settlements
  • Future earnings
  • Other assets accumulated during the course of the marriage

California Community Property

California is a community property state. In community property states, both spouses are typically considered equal owners of all marital property. In other words, in California, whatever you earn or acquire during the marriage is co-owned by both parties, regardless of who earned it or whose name is on the title or other documents. That means whatever you earn or acquire during the marriage is spilt 50/50 upon divorce. All assets acquired before the marriage, after the date of separation, or after the marriage by bequest, device, or descent are separate property.

Though this system may appear simple, the valuation and characterization of various assets can get complicated. In addition, both parties may not want the property to be divided equally, particularly if there is a significant income disparity. It is best to enlist the aid of a skilled Los Angeles area Family Law Attorney to ensure your rights and interests are thoroughly protected.

Let A Los Angeles Marital Asset Division Attorney Help You

Having a skilled and experienced attorney in your corner during a divorce makes all the difference in the world.  You need an attorney who has experience effectively negotiating marital asset division cases.

Contact the Divorce Attorneys at The Law Office of Atousa Saei to discuss your case by dialing (310) 855-3386. Ms. Saei and her associates will determine the true value of retirement accounts, your home, vacation homes, rental properties, and business assets to obtain the best possible outcome for you.

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