Divorce is a difficult and challenging time, and the impending division of marital property only adds to the stress. Property division can have a lasting effect on your personal financial situation long after a divorce is finalized, so you need an experienced family law lawyer in Van Nuys who will keep your best interests at the forefront. No two divorces are ever the same, so you should not follow a cookie-cutter approach when it comes to property division. At Diarian & Bociaga, we will fight tirelessly to ensure that you get the property to which you are entitled. Call us today to learn more about how we can help you.
Basics Of California Property Division
California follows the “community property” rule when it comes to property division during a divorce. This means that all property acquired during the marriage or domestic partnership is considered to be jointly owned by the spouses and will be divided upon divorce. In addition to property, all income acquired during the marriage also follows this rule. The only major exception to the community property rule is when one spouse receives a gift or inheritance. In that situation, the gift or inheritance can be considered separate property even if it was acquired during the marriage.
What Is Considered Property?
Property can encompass a number of different items, and it can include real property, automobiles, boats, furniture, and even clothing and accessories. In addition, cash assets, like an IRA, 401(k), savings account, and other financial accounts are considered property. There are also a few things that might not immediately come to mind that still qualify as property under California law. These types of property include patents, businesses, and even life insurance policies that have cash value. Valuation and division of some of these types of property can be challenging, so having an experienced Van Nuys property division lawyer on your side is crucial.
Settling Property Division Issues
So, who ultimately decides how the property is divided? The answer depends on a few factors. The quickest way to resolve a property division case is by reaching an agreement with the other party. If both parties can agree on how the property should be divided, that agreement will typically be honored by the court. Reaching a settlement in this manner can avoid lengthy and expensive legal battles.
However, if the parties are unable to agree to a settlement, the case will ultimately go to trial. Both parties will present their evidence to the judge, and the judge will make the final decision on splitting the property. The property division attorneys in Van Nuys from Diarian & Bociaga are extremely adept at negotiating property division settlements to save you time and money, but they are also willing to fight for you at trial when the situation requires it.
Contact A Van Nuys Property Division Attorney Today
If you find yourself in the middle of a divorce or annulment, property division can be one of the biggest sticking points. You need a property division lawyer in Van Nuys with the experience to make sure that your interests are protected. The team at Diarian & Bociaga handles property division issues of all sizes and complexities in the Van Nuys area. Our team is ready to help you today. Contact our office now to let us get started working for you.