Division of Property
In a divorce proceeding “property” refers to the assets and liabilities of the parties. The property must be identified, characterized and valued before it can be divided. While issues such as child custody and visitation may be the most emotional components of a divorce action, complex property division is often one of the most complicated and contentious.
HOW IS PROPERTY DIVIDED IN A DIVORCE IN CALIFORNIA?
California divorce laws have established it as a community property state, not an equitable distribution state. This means that any assets or property gained during the course of a marriage belong equally to both spouses and, therefore, the property must be equally divided between the two spouse by the court in a divorce.
CA PROPERTY SETTLEMENT AGREEMENTS
In California, a property settlement agreement is a written contract between two separating spouses that outlines which spouse gets what marital property in the divorce or separation. The focus is division of property, but alimony, child support, and custody can sometimes be addressed in a property settlement agreement.
Our firm can help you try and achieve a fair property settlement agreement in a complex case, addressing matters such as:
Investment portfolios
Retirement accounts. including 401ks and IRAs
Real estate holdings: marital homes, vacation homes, investment properties
Stock options, related employment positions, business interests
Unique personal assets, such as jewelry, artwork, cars
PROCURING THE PROPER VALUATION & DISTRIBUTION OF ASSETS
Often in high net worth divorces, determining the actual value of your assets requires formal appraisals and valuations done by qualified experts. We work with respected professionals across all industries, including business valuation experts and real estate appraisers.