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Fresno Property Division Attorney
Protecting Your Financial Interests During Divorce
One of the most hotly contested issues in divorce is the distribution of property and debts. Since California is a community property state, property acquired jointly during the marriage is divided equally, regardless of which spouse earned the most income during the marriage. However, it can be a complex process to determine what is separate and what is community property and how to divide it equitably. As you go through divorce, a Fresno divorce lawyer at our firm can help to ensure that your marital assets are properly and fully classified, your community property is divided equally, and your separate property is protected. We have extensive experience helping clients from all walks of life, including those facing simple uncontested divorces as well as couples divorcing with high assets.
For more information on how we can help your property division situation, call our firm at (559) 900-1263 today.
Community vs. Separate Property in California
Unlike community property, separate property is not divided in a divorce.
Separate property belongs to only one spouse and is the property that one party owned prior to the marriage, such as:
- Business interests
- Retirement funds
- Real estate
It also includes property and debts individually acquired during the marriage, such as student loans, inheritance, or property purchased with funds belonging separately to one spouse. Community property is everything that was accumulated during the marriage.
Examples of community property that can be subject to distribution:
- Joint savings and checking accounts
- Vehicles bought during the marriage
- Marital home
- Furniture bought with marital assets
- Pension plans
- Retirement benefits
- Jointly owned businesses and professional practices
It is not always easy to ascertain which assets and debts are community and which are separate, and the comingling of funds can make it more difficult. Our Fresno property division attorney can help ensure that the process is completed correctly and that you do not unnecessarily sacrifice any portion of your separate property.
How Your Assets Will Be Divided During a Divorce
There are three basics steps to dividing property in a divorce:
- Characterization: it must be determined whether the property is community or separate.
- Valuation: a value must be determined for the assets, either through agreement or appraisal.
- Division: separate property goes to the owner, and community property is divided equally.
Our property division lawyers are devoted to carefully assessing every aspect of the critical issue of property and debt division in divorce, and we will pursue the appropriate legal action to protect the assets you have a right to in a divorce.
Experienced Guidance from Property Division Lawyers in Fresno
At Arnold Law Group, APC, we are attorneys with over three decades of combined experience. When we take on a case, we work as a team to yield the most profitable results for our clients. You can count on us to build an effective plan of action to achieve the results you need and deserve.
Throughout your case and time with us, we will be committed to maintaining good communication and achieving your goals. Schedule your consultation using our online form or by calling us at (559) 900-1263 today.
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