For many couples, divorce is an incredibly contentious matter that can lead to bitter feelings. In most cases, one of the most pressing issues revolves around the division of marital assets. Unfortunately, many people are unaware of how this process works and how the courts in California will handle these matters. If you’re unsure how assets are divided or have concerns about your circumstances in California, the following blog can help. You’ll also discover how a Los Angeles division of assets attorney can assist you with any issues you may face during this time.
How Does California Divide Property During a Divorce?
If you are going through a divorce, it’s generally recommended to try to divide your shared assets on your own. However, you should know that this will not work for all couples. If there are instances of abuse or a power imbalance, it’s generally recommended not to attempt this without legal representation.
In the event you and your spouse cannot agree on an outcome or it would be unfair to try to divide assets, the courts will step in to handle these matters. California is one of a handful of states that adheres to a method of distributing assets known as Community Property. Essentially, this means that your shared assets with your spouse will be divided evenly, regardless of each spouse’s contribution to the marriage. However, this only applies to joint assets.
A joint asset is anything you obtain throughout your marriage. This includes property, income, and debts. Additionally, if you have separate assets, but co-mingle them with joint assets, they will become marital property and be subject to division. As such, it’s important to understand what assets are marital and which are separate property before divorcing, as this can give you a better idea of the outcome.
What Should I Do if I Have Concerns About How Assets Are Divided?
If you are going through a divorce, there are many factors you’ll need to consider. Unfortunately, the division of assets between a divorced couple is often one of the most complex and tense matters. As such, it’s in your best interest to connect with an experienced attorney who can help guide you through this process to ensure you receive the best possible outcome for your circumstances.
In addition to helping you explore your options, you may find that working with an attorney can help ensure your spouse doesn’t hide assets to receive more money. They can examine the documents exchanged during the discovery phase to help protect you to the best of their ability.
When you’re going through a divorce and your assets are on the line, the team at the Zitser Family Law Group is here to help. We understand how complex these matters can be, which is why our firm is committed to helping you fight for the best possible outcome during your divorce. Connect with us today to learn more about these matters.
