Property Division

Property Division

When you are married, you share everything: the bar stools in the kitchen, the family photos in the frames, and the fine china. Yet when you decide to divorce, it is suddenly necessary to decide how to split all of those shared assets.

California is a community property state. California Family Code section 760 defines community property as “all property, real or personal, wherever situation, acquired by a married person during the marriage while domiciled in this state is community property.” While some property that you obtained during your marriage may be considered separate property, the majority of the assets you obtained while you were married will be considered community property, and in general this is split 50/50.

As such, the discovery and deposition process during the pre-trial and pre-settlement phases of your divorce is extremely crucial to the outcome of your divorce. The information discovered during this phase of the divorce is used to file motions and request orders. An experienced divorce lawyer can assist you throughout the divorce process to ensure that you do not miss any critical matters and deadlines.

Types of Assets to be Divided

During a divorce in San Diego, your divorce attorney and your ex’s divorce attorney will make an inventory of all assets that are to be divided. This property can include nearly anything that you and your spouse obtained during your marriage, but the most common assets include:

• Homes
• Commercial or residential real estate
• Land or other property
• Furniture
• Appliances
• Jewelry
• Art
• Bank accounts
• Stocks and other investments
• 401k plans
• Pension plans or IRA
• Business interests
• Insurance policies
• Cash
• Automobiles or other recreational vehicles
• Patents or trademarks
• Debts
• And more

Mediation and Dividing Property

While it may seem simple enough to divide all of your shared property 50/50, the truth is that divorcing couples rarely see “eye-to-eye” when it comes to how to split this property. Spouses who mediate their divorce can choose how to divide this property and they alone will determine who gets the house, the car, and the personal belongings.

If a divorcing couple cannot reach an agreement on the division of their assets, then a judge will manage this task for them. This is usually not ideal and you and your spouse will benefit greatly from reaching a settlement outside of the courtroom. There are many costs and taxes that are associated with dividing and selling assets. As such, an experienced divorce attorney can help ensure that you do not overlook these important costs during your divorce.

Shana Black – On Your Side

When you decide to divorce, there are many decisions that must be made regarding your property and assets, such as: Who will get the house? How will our retirement account be divided? Who will get the family memorabilia and furnishings? What about the dog? As such, you need an experienced San Diego divorce attorney on your side from the moment you decide to file for a divorce.

Shana Black understands the complications that can arise during the divorce process. As such, she works meticulously to protect your rights and your family’s future. She has successfully represented numerous clients and their families through their divorce proceedings. Call 1-619-557-0122 or email info@shanablack.com to set up a consultation.