Orange County Property Division Lawyer
When considering divorce and ending your marriage, you need to prepare and plan ahead to protect your rights. Once you have determined to file for divorce in California, there are many details that you need to know to protect your assets, your properties, and your finances. The first step is acquiring an Orange County property division lawyer.
With more than a decade of experience in divorce law, the Goldberg Legal Group is the right choice for your divorce in Southern California. Our law firm, situated in the heart of Orange County. We have helped numerous satisfied clients navigate the intricacies of separate and community property. Our caring and skilled attorney devote their time to helping our clients and their families to reaching agreeable resolutions of their legal matters.
If you or a loved one is seeking a divorce lawyer in Orange County and has questions regarding separate property rights, then call the Goldberg Legal Group. The attorneys of the Goldberg Legal Group will work to provide you with a better understanding of your property’s classification in California and will help you throughout the divorce process to make sure that you protect your share of separate property.
How Can a Divorce Attorney Help Me to Protect My Separate Property in My Orange County Divorce?
The property and debts aspect of divorce is often complicated, and the cost of making a mistake can be very high. The best choice is to consult an attorney before you file your papers, especially if you own assets of considerable value.
California Is a Community Property State
One must know that California is one of the nine states in the U.S. that recognizes community property law, This means that both spouses are equal co-owners of any property acquired during the marriage, regardless of who purchased it. Therefore, unless there is a premarital agreement that overrides the law, the court system is obligated to ensure an exact 50/50 division of community property and debts regardless of who purchased it. Therefore, unless there is a premarital agreement that overrides the law, the court system is obligated to ensure an exact 50/50 division of community property and debts.
What Counts as Community Property?
This is a broad category that includes:
- All income received by either spouse during marriage (interest income, salary, stock dividends, rental income, etc.)
- All real estate and personal property acquired throughout the marriage
- Retirement accounts including 401(k)s or IRAs
- Business interest acquired or developed during the marriage
- All debts incurred during the marriage
However, if both spouses are treated as equals when it comes to properties acquired during the marriage, who gets what during a legal separation may hinge on a multitude of factors, including:
- When the property was acquired
- How the title is held
- Which income was used or what proceeds were used to buy it
- Whether some sort of written agreement exists regarding the property
- Existing Prenuptial Agreements
Separate Property
Depending on various factors, the property may or may not be considered separate property. In contrast to community property, separate property belongs only to one spouse. The most common forms of separate property in California are:
- Property one spouse owned before being married
- Gifts received by one spouse before marriage, during the marriage, or after separation.
- Property acquired by one spouse using separate property assets with the intention of and keeping it separate during the marriage.
- Property that came as a gift or inheritance during the marriage.
If separate property is mixed with community property, it can become partially community property. Separate property could also be transformed into community property through a written agreement.
Prenuptial Agreements Can Protect Your Assets
A prenuptial agreement, or prenup as they are commonly called, is a contract signed by a couple before their marriage that outlines how their property and debts will be divided if they decide to divorce. This agreement can protect a spouse’s separate property, family heirlooms, and business interests. A prenup could even address potential future spousal support and keep debts separated.
If you’re about to enter a marriage with significant asset differences, premarital debts, business interests, or have children from a previous relationship, it might be beneficial to consider a prenuptial agreement to safeguard your finances.
Why You Need a Property Division Lawyer in Orange County
Navigating a divorce and all that comes with it can be emotionally draining. At The Goldberg Legal Group, we understand that dividing marital assets goes beyond physical property. It can include business valuation and distribution, retirement accounts, and debts. Our knowledge of California property division laws allows us to represent your interests and reach an equitable settlement.
Orange County Property Division FAQs
Q: How Is Property Divided in an Orange County Divorce?
A: Since California is a community property state, all property and debt acquired during the marriage is generally considered shared property. Therefore, unless agreed upon before the marriage, these assets and debt are divided equally upon divorce. Any property acquired before marriage, after separation, or any inheritance does not need to be divided.
Q: What Is Considered Community Property?
A: Community property is property or debt acquired during the marriage, regardless of who earned it. This includes income and earnings, real estate purchased after the marriage date, retirement accounts, business interests, and any debts such as credit cards or loans. If separate property becomes commingled with community property, it becomes partial community property.
Q: What Happens if My Spouse Is Hiding Marital Assets?
A: California requires spouses to fully disclose all financial information during a divorce. If you suspect that your spouse may be hiding marital assets, you need a divorce attorney immediately. They can guide you through the process of uncovering the potentially hidden assets. The quicker you act, the better chance you have of recovering the hidden property.
Q: Can a Prenuptial Agreement Affect Property Division?
A: Yes, a prenuptial agreement can override California’s community property laws. Couples can get a prenup before their marriage to decide how assets and debts will be divided if they divorce. This can be an effective way for individuals to protect their property and any businesses. It can also be a tool to avoid lengthy and costly legal battles over community property.
Contact Our Orange County Property Division Lawyers
If your spouse is challenging your claim to separately owned property, contact our family law attorney in Orange County at the Goldberg Legal Group. We address separate property appreciation, commingling of separate property and many other property division issues in Southern California. With more than a decade of experience in determining the value of a given asset and in dividing marital assets, our skilled attorneys will work with you, providing you the peace of mind you deserve in these complicated times. The first consultation is complimentary, so contact us now and help us get started on your case!
Do not waste any time and call us now for a free consultation!
The Goldberg Legal Group
Tel: 949-229-0229
7545 Irvine Center Drive Suite 200
Irvine, CA 92618
