The division of assets in the context of divorce is an ever-changing body of law. If you are going through a divorce, it is crucial to have on your side a divorce attorney who is committed to staying abreast of any and all changes in California's community property law.
The Los Angeles property division lawyers of Joel S. Seidel & Associates are highly experienced in these matters. We have the legal knowledge and professional resources to account for and valuate a wide variety of marital assets for the purpose of division at divorce.
Community Property In California
In California, except as otherwise provided by statute, all property, real or personal, wherever situated, acquired by a married person during the marriage while domiciled in California, is community property.
There are exceptions, of course, such as property acquired before the marriage, and "rents, issues, and profits" from such property, and inherited assets acquired by either spouse, to name just a few. A premarital or postmarital agreement may also specify that certain items of property should not be divided.
When Matters Become Complicated
Property division tends to become particularly complicated when community or separate property includes complex assets such as a business or other investments. In addition, when a spouse's personal efforts increase the value of his or her separate property business, it becomes necessary to quantify the contributions of the separate capital and community effort to the increase, because the community is entitled to the increase in profits attributable to the community endeavor.
Our lawyers can help with the appropriate characterization and valuation of a variety of kinds of assets, including:
- Real estate holdings
- Pensions and retirement plans such as 401(k)s and IRAs
- Stocks, stock options and other securities
- Business assets and their increase in value
To protect our clients' interests, we have built a network of highly skilled professionals who assist in uncovering, valuating and, where appropriate, dividing marital assets equally between the spouses. Our network of experts includes forensic accountants, real estate appraisers, certified public accountants, economists, vocational experts and investment analysts.
Property Division And Support Determinations
The division of assets is often an important consideration for other aspects of family law proceedings. Specifically, the division and distribution of community property may also be a factor in the determination of spousal spousal, as well as attorney fees.
We have represented parties in cases involving a wide variety of property division circumstances, and we have extensive experience in handling situations ranging from the routine to the more complicated scenarios involving substantial assets.
Division Of Debts
The division of debts incurred during the marriage is a potentially complex process with a significant body of law associated with it. Dividing marital debt is also an area that often evokes anxiety and numerous questions over who will have to pay such debts and whether the community estate will be liable for debts incurred during the marriage.
For many people, the division of debts is simple and straightforward. For others, it is far more complicated, particularly if there are allegations that a debt was not incurred for the benefit of the community or that the debt is the result of wrongdoing by one of the spouses. Family law is complicated, and the appropriate division of marital debts is no exception to this rule.
Contact Joel S. Seidel & Associates
To speak with an attorney about your marital property concerns, contact our law firm online or call us at 818-488-6423. Our office locations are in Century City and Northridge.