Dedicated Family Lawyers
Los Angeles Property Division Attorney
Assistance from a Certified Family Law Specialist & Former CPA
Financial problems are one of the most common reasons for the failure of marriage.
We see this particularly at our law firm, the Law Offices of Kenneth U. Reyes, APC. In addition to complicating the marriage, finances can add a tremendous amount of conflict to the divorce.
For example, there may be a dispute over which assets are considered marital property (subject to division) and which are considered separate property.
Or, there may be a situation where one spouse earns substantially more than the other spouse and controls most of the community assets.
At the Law Offices of Kenneth U. Reyes, P.C., our Los Angeles property division attorney can help protect your assets during the property division process.
In addition to being a Certified Family Law Specialist (CFLS), Attorney Kenneth U. Reyes is also a former Certified Public Accountant (CPA).
With a decade of experience as a CPA, Mr. Reyes brings an in-depth, professional understanding of the financial complexities involved in the property division.
Our firm has extensive experience handling high-net-worth divorce cases.
How is Marital Property Divided in California?
In California, marital property is divided 50/50 between spouses during a divorce. Each spouse is entitled to 50% of the community property.
Community property is all property, real or personal, acquired by a married person during the marriage while domiciled in the state.
Community Property in California
Regarding property division between divorcing spouses, California does not discriminate as to who brought in the bacon during the marriage.
Even if only one spouse worked to earn the money, the income is seen as belonging to both spouses 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 that if you are a high-earning spouse, such as a physician, dentist, or business professional.
Suppose you accumulate substantial assets through retirement plans, real estate, or intangible assets. In that case, 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 only sometimes results in an equal distribution.
Our property division lawyer in Los Angeles will aggressively assert your rights to your community and separate property through settlement negotiations or trial.
Our Los Angeles attorneys aim to help you keep and preserve as much of your assets as possible when you go through divorce.
It is common for us to retain experts who can provide accurate valuation of assets—such as professional practices, businesses, and real estate—that would be most favorable to our client's position.
This allows our attorneys to properly prepare the clients' cases for trial, which is especially helpful if the divorce case does not settle.
Contact Our Marital Assets Attorney for Dividing Property Today
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 California Family Code and case law that define the characterization of community assets and debts.
Contact the Law Offices of Kenneth U. Reyes, APC to
schedule a consultation with one of our knowledgeable property division attorneys!
“He also worked with my budget since I was on my own and had no financial support from anyone I only counted with my income.” - J.M.
“Consultation is answered swiftly (same day inquiry and feedback), provides assistance in every step of the way, application is processed promptly.” - L.M.
“Thank you for making our dream possible.” - S.E.
“Everyone was very attentive and accommodating. I truly recommend him and his firm.” - M.Z.
- Board-Certified Family Law Specialist
- Over 24 Years of Legal Experience
- Award-Winning Certified Public Accountant
- Regularly Published Legal Professional
- Highly Involved in the Filipino Community
- Fluent in English, Spanish, Tagalog, and Bicol