Irvine Property Division Lawyer
Do you need legal assistance with a property division matter in your divorce? The division of property, assets and debts is a very important and often difficult issue to resolve between divorcing spouses.
We urge you to contact a lawyer at Kirk & Toberty, Attorneys At Law to schedule an initial consultation in which you can discuss the specific facts and circumstances of your case. After reviewing your situation, we can advise you regarding the legal factors involved and how best to proceed towards a divorce settlement agreement.
Contact us today at (949) 416-2215 to schedule a consultation with our Irvine property division lawyer. We are here to help you through this difficult time.
Understanding California’s Community Property Laws
California is one of the few states that follows the community property system, which means that, in general, property and debts accumulated during the marriage are owned jointly by both spouses and are subject to division during divorce.
Under this system, all property obtained during the marriage, regardless of which spouse’s name is on the title or who paid for it, is typically considered community property. However, not all property is subject to equal division. Some property may be classified as separate property, meaning it is owned solely by one spouse.
Separate property includes:
- Assets acquired before the marriage
- Gifts or inheritances received by one spouse during the marriage (unless commingled with community property)
- Property specifically designated as separate in a valid prenuptial or postnuptial agreement
Understanding how property is classified is critical to a fair division, and our Irvine property division lawyer can help ensure that your assets are properly categorized and that the division process is equitable.
Key Considerations in Property Division
Several factors can influence how property is divided during a divorce in California. While the state follows a community property model, the court may take into account certain circumstances when deciding on a fair division:
- Contributions to the Marriage: The court may consider both financial and non-financial contributions to the marriage. For example, if one spouse was a stay-at-home parent while the other worked, the court will recognize the value of the homemaker’s contribution to the marriage.
- Economic Misconduct or Fraud: If one spouse is found to have hidden assets, committed financial fraud, or dissipated community assets (e.g., by overspending or gambling), the court may order an unequal division of property to account for the misconduct.
- Length of the Marriage: The length of the marriage can play a role in how property is divided. For example, in a long-term marriage, there may be a stronger argument for an equal division of property, while in a shorter marriage, the division may be less favorable to one party.
Ready to protect your assets? Schedule a free consultation with an Irvine property division attorney today. Call at (949) 416-2215 or contact us online to get started.
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Marital Property Division Process in California Divorce
The division of property during a divorce involves several stages, all of which require careful attention to detail and an understanding of California’s divorce laws. The general steps in property division are as follows:
- Identifying Community vs. Separate Property: The first step in the division process is identifying which assets are community property and which are separate property. This can become complicated when one or both spouses have mixed assets (commingled funds) or when property acquired before the marriage has increased in value during the marriage.
- Valuing the Assets: Once the assets have been classified, they must be accurately valued. This can include appraising real estate, determining the market value of businesses, and assessing retirement accounts, stocks, or investment portfolios.
- Negotiating the Division: After identifying and valuing the assets, the next step is negotiating how the property will be divided. In many cases, the division may not be a simple 50/50 split but may involve creative solutions, such as one spouse receiving a larger share of one asset in exchange for a different asset. For example, one spouse may receive a larger share of the retirement accounts, while the other spouse may retain ownership of the family home. Negotiation is a crucial part of the process, and having an attorney can help you secure an arrangement that works for your situation.
- Handling Debts: In addition to assets, any marital debts—such as mortgages, car loans, credit card debt, or business liabilities—must also be divided. Our Irvine property division lawyer works to ensure that debt allocation is fair and that you are not unfairly burdened with debts that should have been allocated to your spouse.
- Court Intervention (if necessary): If you and your spouse cannot agree on how to divide marital property or debts outside of court, then the court will decide this issue based on the facts and evidence presented to it. Property division for couples with a complicated financial situation or history can be a complex issue which requires a complete disclosure, assessment, and valuation of real estate, vehicles, stock portfolios, pension funds, art collections, and other investments.
How Our Irvine Property Division Lawyer Can Help
Property division is a complex and sensitive aspect of divorce, and the decisions made during this process will have long-lasting financial consequences.
Our team at Kirk & Toberty, LLP is committed to protecting your rights and securing an equitable property division that reflects your financial goals and needs. Whether through negotiation, mediation, or litigation, we have the experience and knowledge to handle even the most complex property division cases.
If you need representation in this difficult and important issue in your divorce, an experienced and knowledgeable attorney at our firm can provide thorough and highly-qualified legal service.
Take control of your property division case. Call at (949) 416-2215 or contact us online to schedule a free consultation with an experienced Irvine property division lawyer today.
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Whether you have questions or you’re ready to get started, our legal team is ready to help. Complete our form below or call us at (949) 416-2215.