Division of Property
Learn about California divorce laws including division of assets, debts and property. Contact The Law Office of Olga A. Koplik, PC today to schedule an appointment.
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Get Help Navigating the Complex California Divorce Laws
There are many things to consider when dividing property in a divorce. For instance, you will have to differentiate between community property and separate property. You will also need to agree on the value of each. Spouses who cannot agree on what belongs to whom will likely need to let the court decide, in which case, you will likely need to have appropriate legal representation, ensuring your interest is protected.
Types of property often involved in the division of assets during a divorce:
- Bank Accounts
- Retirement Plans
- A business
Types of Property
California divorce laws pertain to something known as community property. To get a better understanding of what community property is, let’s take a look at both community and separate property.
The state of California defines community property as all property that a couple acquired during marriage. A couple's community property must be divided equally if there is no written agreement requiring a different division of the property. That means even if your spouse makes more money than you and was responsible for the purchase of your home, under California law, you are entitled to half of it.
Property that was acquired by a spouse prior to marriage or during marriage with separate property inheritance or investments, are considered separate property and not subject to division by marital property laws. Additionally, any rent or profit generated by a separate property is also not to be considered as part of the joint marital property.
Get Help From an Experienced Family Law Attorney
Division of property can be a complex and lengthy process, and the valuation of assets is often a point of contention. Don’t try to do it on your own — let attorney Olga A. Koplik help you navigate this difficult process and ensure that you’re treated fairly. Call today to schedule a consultation.
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The Law Office of Olga A. Koplik, PC. puts more than a dozen years of experience to work on behalf of our clients, and we’re proud to offer legal advice and representation that’s knowledgeable and ethical. If you have a legal matter in dispute, contact us online or by phone today!