Property Division

One of the most common reasons for the failure of marriages are financial reasons.  We see this a lot in our practice.  One spouse earns substantially more than the other spouse and controls most of the community assets.  The problem is further compounded when the higher earning spouse has substantially more education than the other spouse. 

Not only is the higher earning spouse in danger of getting stuck with a hefty spousal support obligation, he or she may lose a substantial portion of the fruits of his/ her labor. Unfortunately, California Family law does not discriminate as to who brought in the bacon during the marriage.  Any property accumulated during the marriage is community property even if you accumulated it with your own sweat and hard work alone as long as it was accumulated during the marriage (that would be from the date of the marriage to the date of separation).  This means if you are a high earning spouse such as a physician, dentist, or business professional and accumulate substantial assets through retirement plans, real estate, or intangible assets, your spouse may be entitled to a distribution of half of the value of the community assets. 

However in practice, the distribution of community assets and debts does not have to always result in an equal distribution.  Our firm will aggressively assert your community property rights, either through settlement negotiations or trial, so that you get to keep and preserve as much of your assets as you can when you go through divorce.

It is often necessary for us to retain experts that would provide accurate expert valuation of community assets such as professional practices, businesses, and real estate that would be most favorable to our client’s position.  This also prepares our client’s case for trial if the case does not settle.

The division of community property and debts can get complicated when you take into account a spouse’s right to reimbursement, credits, transmutations, and quasi-community properties.  It is important to hire legal counsel that is thoroughly familiar with the numbers.  There are numerous presumptions under the family code and the case law that defines the characterization of community assets and debts.