Division Of Marital Assets and the Law in California
It is crucial to come to an agreement concerning division of marital assets once a marriage dissolves. The process of divorce and division of assets can be psychologically, emotionally, and financially draining but is essential to complete the process. Both parties often rely upon marital assets for their financial and retirement security. In high cost-of-living areas such as Southern California, it is important to hire an experienced divorce attorney who will fight for your fair share of the division of marital assets. The Law Offices of Atousa Saei are highly experienced in handling all types of marriage dissolution cases.
California is a “community property state.” This means that in California both spouses are typically considered equal owners of all marital property, earnings and otherwise, regardless of who earned what or whose name is on a title. Although there are always exceptions that occur in cases of divorce, assets are typically divided equally between both parties during a dissolution of marriage. The divorce lawyers at the Law Offices of Atousa Saei will help you navigate property settlement and division of assets.
Additionally, marital, (or “community”), debt is treated the same as community assets. In California, debt incurred is the responsibility of both parties, regardless of which party may have incurred the debt. Like community assets, there are also exceptions, and these issues can often become very complex. The Law Offices of Atousa Saei are here to help you navigate through all of the details of a divorce.
Many of the challenges facing someone going through a divorce include separation of assets and debts and the division of marital assets. It is in this regard that hiring an experienced divorce attorney is crucial to receiving your fair share out of marriage. Often, parties may disagree on the value of certain assets, or one spouse may attempt to hide assets from the other by filing an incomplete financial disclosure or concealing certain accounts. The Law Offices of Atousa Saei have experienced attorneys to handle difficult divorce property settlements such as these with professionalism and grace.
Marital assets come in many forms.
Common assets to divide include but are not limited to:
- Real property
- Bank accounts
- Cash
- Retirement accounts/I.R.A./401K
- Stocks/Bonds
- Automobiles
- Future earnings
- Jewelry
- Art/Artwork
- Household furnishings
- Assets held in trust
- Businesses
- Additional sources of income such as pensions, SSDI and lawsuit settlements
The Law Offices of Atousa Saei will be able to provide you with detailed information regarding your legal rights to the division of property under California law, we can help you negotiate a fair property settlement. The stakes are very high, and your future security is at stake, that is why Ms. Saei and her associates will work tirelessly to see you get the best results out of your divorce.
Finding Hidden Assets During a Divorce
California Family Code imposes an obligation of financial disclosure on both spouses. This is a process of the good faith and fair dealing, where neither party is expected to take advantage of the other in making their disclosures during divorce proceedings. These duties continue even after the end of the marriage, and they extend to full financial disclosure. Through the discovery process, and the powers of the court, marital assets are traced, located and equitably divided. Divorce property settlement relies upon this procedure to be transparent and fair.
The Law Offices of Atousa Saei has years of experience locating assets and obtaining the most favorable outcome for clients concerning the division of marital assets. Our attorneys begin with basic steps and make certain that no stone is left unturned—that an exhaustive search is conducted to identify all potential hidden assets.
When facing the demise of a marriage, it is not uncommon for a spouse to suspect that marital assets may be hidden, and often times they are! Assets may be hidden by a variety of means: transfer to a third party, denial of existence, creation of false debt and other similar schemes. The team at the Law Offices of Atousa Saei will navigate through the procedures this involves, working with forensic accountants that assist in tracing and locating hidden assets, as well as with private investigators. The Law Offices of Atousa Saei will gather the evidence needed to obtain what is owed to the rightful party and a fair division of marital assets.
When reaching a settlement outside of court, both parties will often meet to decide on an agreement that feels fair to both of them. This may mean one party receives more assets, but at the same time, they may waive their rights to other interests. The Law Offices of Atousa Saei is highly experienced with navigating divorce both through the court system and outside of court to come to an agreement. Either way, you choose to go, Ms. Saei and her team of divorce attorneys are here to fight to make sure you are treated fairly.
Let the Santa Monica Family Law Attorneys at the Law Offices of Atousa Saei Help You with Your Division of Marital Assets
Having a skilled Family Law and Divorce Attorney on your side during a dissolution or legal separation makes all the difference in the outcome of your matter. You may need to navigate through multiple negotiations to an agreement as to the value of existing assets. With this in mind, it is a wise and prudent move to contact the Santa Monica Family Law Attorneys at The Law Offices of Atousa Saei to discuss your case. Ms. Saei and her associates will provide you with in depth information about your legal rights and proper division of marital assets in California.