An Experienced Property Division Lawyer Can Defend Your Rights
The division of marital property is one of the major focuses of any divorce case. The proper characterization and valuation of every community asset, including credit and debt, are essential to achieving a fair and just property settlement.
A property division lawyer at our Manhattan Beach, California, firm can handle property division matters for you, helping you achieve a fair outcome. Rombro & Manley LLP can provide you with the skilled representation you need in any property division matter, including complex cases involving hidden assets.
Property Division During Divorce
Dividing property during a divorce can be a complex process. It is important to make a list of all property and assets. Among other things, your list could include:
- Your house or other real estates
- Bank accounts
- Retirement assets such as a 401(k)
- Stocks and other investments
- Business assets
- Credit cards and other debt
Community Property Versus Separate Property
It is important to note that some assets may be considered community property, while others are categorized as separate property.
With certain exceptions, community property is any asset acquired or income earned by a married person during the marriage. Community property may include a home, vehicles, retirement assets, bank accounts and business assets.
Separate property includes property owned by the person before marriage and any rents or profits derived from it. It also includes property acquired by the person, even during marriage, by gift or through inheritance. An important step in the property division process is the proper characterization of assets as either community property or separate property.
Complex Property Division
How do you account for the labor contributed by a spouse to a business or professional practice owned or managed by the spouse during the marriage? What if the spouse is a partner in a business that may later be sold? How do you value the goodwill of the business, and how do you measure the contribution of the spouse to building that goodwill? If one spouse works to support the other spouse through medical school, is the working spouse entitled to any return or reimbursement when the marriage ends? A qualified and experienced divorce attorney is familiar with these complex issues and can help you understand your rights under California community property laws.
Division Of Debt
Debt division can be just as complicated as property division, if not more. It can be especially complex when it comes to mortgages and similar obligations.
An experienced attorney at Rombro & Manley LLP can help you navigate these complex matters, helping you ease an already stressful period of your life.
Achieving a fair outcome in matters of property division requires proven skill in the often complex area of divorce law. If you have questions regarding the outcome of a potential property division during a divorce in California, contact our property division lawyers for a confidential consultation. Call 310-545-1900 today.