Property Division (12)Property Division
One of the more contentious issues that can arise during a divorce is how the spouses will divide property and assets. When it comes to deciding who gets what, difficulties may arise, complicating even the most amicable divorces. Such difficulties can include:
- Challenging decisions about physical property division
- Existing debts
Though such issues can be resolved with a prenuptial agreement, if one is absent, it’s best to seek the services of a skilled property division lawyer. Choosing an attorney adept in this field may be easy, but deciding if he/she is right for you is entirely different. A highly-skilled litigator from the law office of Fischer & Van Thiel, LLP, has the experience you need with divorce-related issues. Whether the property in question is large or small, hire one of our attorneys to help you in your case.
Below are helpful topics that may help you understand how property division works.
- Understanding Division Of Property
- Property Division For Unmarried Couples
- Marital Property Agreement
- Dividing Joint Property During Divorce
For any topic or question not answered above, feel free to contact one of our attorneys for information.
Dividing Joint Property during Divorce
Divorce can be a tough process for anyone, especially when spouses cannot reach an agreement regarding the division of property. Property division isn’t too complicated when spouses each take property that they owned before their marriage, but in the case of joint property—property that was acquired after the marriage took place—many people are unable to agree on how to divide these assets. If you cannot reach an agreement with your spouse about the division of joint property, you may need legal intervention.
If you or someone you know is going through a divorce and facing issues with dividing joint property, we can help you ensure that your rights and interests are fully protected during the division of assets process. For more information, contact an experienced San Diego divorce attorney of Fischer & Van Thiel, LLP, today by calling 858-935-6211.
What is Joint Property?
Any property that was acquired by a couple after marriage can be considered joint property. Because joint property legally belongs to both spouses, it is much more difficult to divide as compared to property owned prior to marriage. Joint property can include assets like the following:
- Homes, vehicles, and other properties purchased in both names
- Bank accounts jointly held by both spouses
- Debts acquired on joint credit cards or joint loans
The discussion regarding division of joint assets can quickly become contentious, so you may need a lawyer to help you settle the divorce negotiations.
If you or someone you know has concerns regarding the division of joint property during divorce, you are not alone. Contact a qualified San Diego divorce lawyer of Fischer & Van Thiel, LLP, today at 858-935-6211 to see how we can help you resolve these concerns.
Divorce and Copyrights
A joint interest in certain hobbies is one common way that people meet and get married in the first place. Oftentimes, a couple with a shared hobby will work together on a creative project that eventually leads to a joint copyright. If this couple later decides to pursue a divorce, the division of this copyright must be considered.
If you and your spouse currently co-own a copyright and plan to get a divorce, it is important to discuss the best way to divide the copyright with an experienced lawyer. By working with the San Diego divorce attorneys of Fischer &Van Thiel, LLP, you can have the peace of mind that your rights will be protected. Call our offices today at 858-935-6211 to learn more about your options.
Handling a Copyright During Divorce
One popular way to divide the benefits of a copyright is to simply split any earnings coming from the item or idea that is protected under the copyright, including:
- Advance payments
The fate of a copyright following divorce may be hard to determine as future events cannot be predicted. Therefore it may be difficult to ensure to the division is fair.
Why You Should Hire an Attorney
The rights to you and your spouse’s copyright will be included in a divorce settlement. In order to receive the fairest treatment, you should consult an attorney about your rights. Whether you are looking to retain a copyright or ensure you get your fair share, a San Diego property division lawyer from Fischer &Van Thiel, LLP, can help protect your interests.
If you have questions regarding your copyright following divorce, the San Diego divorce attorneys at Fischer &Van Thiel, LLP, can help you understand your rights and your options. Contact a lawyer today by calling 858-935-6211.
Divorce and Furniture
When financially stable couples marry, often one of the first major purchases they make is buying a house where they will build their life together. Typically, moving into a new house and making it a home will involve the additional purchasing of furniture and other décor that couples choose together to inject their own tastes and sensibilities into a property. In the case of divorce, it is natural for each individual to want to keep certain pieces of furniture which they enjoy or regard as particularly special.
It may be impossible for spouses to come to an agreement about the division of furniture or decorative assets, and if this is your situation, it is advisable to speak with an experienced attorney. Contact the San Diego divorce attorneys of Fischer & Van Thiel, LLP, at 858-935-6211 today.
Determining the Assignment of Furniture after a Divorce
Often the most contentious and lengthy portion of divorce proceedings is that which is concerned with the division of joint property. Furniture can be worth thousands of dollars and each spouse may want to take certain pieces with them. A lawyer can help you consider the following:
- How much the furniture is worth
- What pieces each spouse is interested in taking
- The circumstances of the furniture’s initial purchase
- Each spouse’s future plans for the furniture
This can be a difficult and sensitive topic so contact a divorce attorney today to help you to ensure that your interests are properly represented.
We recognize that many of the issues pertaining to a divorce can be challenging and emotionally draining. Let us help you to resolve disputes over the division of furniture and other assets so that you can begin moving forward with your new life. Contact the San Diego divorce lawyers of Fischer & Van Thiel, LLP, at 858-935-6211.
Social Security Benefits and Divorce
A couple deciding to divorce will have various obstacles during the process. Asset division, child custody, and determination of how debts will be settled must be discussed and worked out between both parties. One complicated issue that a couple may have to deal with is Social Security benefits. For example, if both spouses plan to use their social security benefits to assist with living expenses, a divorce may cause them to rethink how their benefits will be handled. In certain instances, benefits may or may not be divided in the same manner as other assets, and some individuals may not be eligible to receive benefits at all.
Provisions And Qualifications
Typically, Social Security checks may be divided upon the establishment of a divorce settlement. However, in order to qualify for your former spouse’s Social Security benefits, the following criteria must be met:
- The couple must have been married for at least ten years
- The receiving spouse must be at least 62 years of age
- The receiving spouse must be single
- If the receiving spouse has remarried, he/she must have divorced the second spouse or the second spouse must be deceased
- The benefits the receiving spouse wishes to collect must be greater than the amount he/she would have collected based on his/her own earnings history
- The former spouse must either be eligible to receive benefits or currently receiving benefits
- If the receiving individual passes on, his/her ex-spouse is eligible to receive the benefits as long as the aforementioned qualifications are met
An important factor to note is that the benefits one may collect based on their former spouse’s earnings will not reduce the amount the ex-spouse receives.
We understand that Social Security payment division can be a complicated and confusing process. Avoid these difficulties by choosing a divorce attorney from San Diego’s Fischer & Van Thiel, LLP, at 858.935.6211.
Divorce and Inheritance
When two people get married, they usually do not expect their marriage to ever end. Unfortunately, it is estimated that 50% of all marriages will end in divorce. With this glaring statistic in mind, it is important to consider financial matters, including inheritance.
Though inheritance is usually left to one person, an heir may be married, and the inheritance may become joint property. If you recently received an inheritance and want to learn about safeguarding it from a divorce settlement, contact the San Diego divorce lawyers of Fischer & Van Thiel, LLP at 858-935-6211.
When Inheritance Becomes Joint Property
In any marriage, there is joint property and separate property. Most couples share a great deal of joint property, including homes, cars, and bank accounts. These pieces of property are fair game for division in a divorce settlement.
While it would seem that inheritance does not fall into the same category as these other pieces of property, this is not always true. Inheritance becomes joint property when:
- Both spouses invest in increasing the property’s value
- The inheritance is monetary and is placed in a joint bank account
- The value of the inheritance increases during marriage
With these conditions in mind, individuals can take steps to ensure that their inheritance will remain solely theirs in the event of a divorce.
The San Diego divorce attorneys of Fischer & Van Thiel, LLP may be able to help individuals protect their inheritance from being shared with their ex-spouses in the event of a divorce. Contact us today at 858-935-6211 for more information.
Property Division for Unmarried Couples
Many unmarried couples live together for many years and acquire property together. If one of these couples decides to end their relationship, the partners in the relationship may not know how to properly divide this property among the two of them. Though unmarried couples are not legally recognized, some may have to go through procedures similar to divorce to settle their differences.
If you and your partner are ending your relationship, we can provide legal advice. Contact the San Diego divorce lawyers of Fischer & Van Thiel, LLP at 858-935-6211 to learn more about whether you may need legal assistance.
When two unmarried people own property together – be it land, material goods, or finances – they will have to divide it if they decide that they no longer wish to share it. Some couples can divide their property between themselves without a third party’s assistance, but others cannot.
Those who cannot may require legal intervention to help them with the process. Only property that the couple acquired while together will be divided when the couple opts for legal intervention. Pre-relationship property, as well as any gifts or personal possessions, will be exempt from division.
Couples who cannot settle their differences should start by enlisting the help of an experienced San Diego divorce lawyer.
The San Diego divorce attorneys of Fischer & Van Thiel, LLP understand that unmarried couples sometimes need the same intervention that married couples do when their relationships end. Contact our office today at 858-935-6211 for more information about getting your property legally divided.
Credit Accounts and Divorce
There are two types of credit accounts that people can open: joint accounts and individual accounts. The type of account that married individuals open can have a major effect on who has to pay back the debts in the case that divorce occurs. First, however, it is important to provide basic information on both types of accounts.
When a married couple opens a joint credit account, for example for a credit card, then both of the spouses’ credit history and income/assets are considered when the creditor is deciding whether or not to grant the credit. Should the spouses be granted credit, both spouses are responsible for paying back the debt associated with the account.
When a married individual opens an individual credit account, however, the opposite happens. Only that individual’s, and not his or her spouse’s, credit history and income/assets are considered. As a result, only the spouse opening the individual account is responsible for paying back any debt linked to the account.
When Divorce Comes into the Picture
When people decide to get divorced, the type of credit account affects which spouse has to pay back the debt. If the debt is for an individual account, then the spouse who opened the account has to pay back the debt. For a joint account, however, both spouses are responsible for paying back the debt. Even if the spouses agree that one of them will pay back the debt, the creditor can claim money from the other spouse, as the creditor was never a party to the divorce agreement that the spouses signed. As far as the creditor is concerned, the debt would still be part of a joint account.
Contact a San Diego Divorce Lawyer
If you are going to get divorced, debts are only one concern. The legal requirements can be a serious burden. To get the legal assistance that you need, contact the San Diego divorce lawyers of Fischer & Van Thiel, LLP by calling 858-935-6211.
Financial Divorce Considerations: I
Despite what many people think, divorces are not always simple processes. The financial side of divorces, like division of assets and alimony, can rouse strong passions, since spouses want to make sure that they get what they deserve. To ensure that the financial process of divorces proceeds as effectively as possible, people can take a number of steps.
One thing that people should consider is what impact the financial agreement in the divorce settlement will have on their taxes. Because spouses sometimes receive money from or have to give money to each other, their taxes can be affected. For example, any spouse that receives alimony payments has to pay income tax on the alimony.
People should also be aware of any hidden assets their spouses may have. When couples get divorced, their assets are usually divided in half, with each half going to each spouse. If one spouse has hidden assets, however, then that that spouse will end the divorce process with more than the other spouse because the hidden assets were not split between the two.
Thirdly, spouses should also budget out their expenses for their lives after the divorce because they will likely have less money with which to meet their needs and wants. As married couples, spouses enjoy the benefits of joint incomes, but after divorce they have to support themselves completely. Consequently, they will have less to spend.
Speak with a San Diego Divorce Attorney
Divorces can have many financial ramifications, and people may not be aware of them all. Fortunately, legal professionals can help address problems that may arise. If you are considering divorce and do not know what to expect in terms of financial problems, contact the San Diego Divorce attorneys of Fischer & Van Thiel, LLP by calling 858-935-6211.
Pets and Divorce
To many of us, pets are beloved members of the family, important and special to us, and it hurts to think of having to lose our furry friends. But in a divorce, they are property like everything else, and as painful as it is, they have to go somewhere.
It is not uncommon in divorce proceedings for the ownership of pets to be treated similarly to the custody of children. In many cases, arguing spouses attempt to establish that the pet will be better cared for and happier in their respective homes. And you can’t put a price on the value of Fido’s wagging tail and playful fun.
Unlike kids, you can’t really divide custody of a dog, so you have to establish definitively who will have ownership of your pet. Here are some suggestions to make the painful task a little bit easier:
- Who purchased the pet in the first place is important. If your husband came into the relationship with the dog, then he should be allowed to leave the relationship with the dog. Conversely, if your husband gave you the dog as a gift, you have more of a claim on it than he does.
- Who provided more care for the pet is also important. If your wife was the one who took the cat to the vet, bought it food, and made sure to give it its medication, she may have more right to Mittens than you do.
- It is also important to consider who will have custody of the children. While it may be painful to lose both the kids and the dog, letting your children keep it may be the more responsible thing to do. A pet can help smooth the strange transition children face when their parents get a divorce.
At the end of the day, though, these points are just suggestions. Every divorce is different, and you will have to come to terms with the issue of who owns the pet yourselves.
If you and your spouse are considering the difficult choice a divorce, or would like to know more about your options, contact the San Diego divorce lawyers of Fischer & Van Thiel, LLP by calling 858-935-6211.
Splitting the Home
When involved in divorce proceedings, splitting the family dwelling is a concern. This is usually the largest asset that is shared between partners. If children are involved, it becomes more complicated since this is the house in which they have grown up. Also, if the mortgage is not fully paid off, the house is also the largest liability shared between two people involved in a divorce.
If one person in the marriage keeps the home it can be a simple matter. The judge will set a date on which the other spouse is no longer financially obligated toward the house and when he or she will have to vacate the household. One spouse will therefore buy the other portion of the house out. If children are involved, sometimes one spouse will stay in the marital home with the children.
However, some couples set up certain standard that must be met before the home is sold outright. Some of these prerequisites include:
- When the spouse residing in the marital home remarries
- When the children are no longer minors and turn eighteen
- When the spouse is co-habiting with someone else
If the home is sold outright, the situation is even easier. The house will be sold and the equity from the house divided equally among both parties. However, the responsibility of selling the home will usually fall on one spouse. Sometimes the spouse in charge may take longer than necessary to get rid of the home. As such, it is sometimes safer to add prerequisites to selling the home, too. For instance, create a deadline of when things should be done in order to sell the property. And also account for the fact that the home might not sell immediately, and make provisions for that situation.
If you are considering filing for divorce and are having trouble splitting your assets, contact the San Diego divorce lawyers of Fischer & Van Thiel, LLP today at 858-935-6211 for the legal assistance you need.
Understanding Division of Property
When a married couple becomes divorced, they must divide their property if they did not have a prenuptial agreement that stated what divisions would be made in the event of a divorce. Division of property can be a tricky part of divorce, as it includes everything from bank accounts to houses, and even collectibles such as artwork or antiques.
If you are going through a divorce and need legal advice on division of property, or if you have any other concerns, contact the San Diego divorce lawyers of Fischer & Van Thiel, LLP at 858-935-6211. We can help make sure that the division of property in your divorce remains fair and equitable.
Ways to Divide Property
In California, only community property is divided. In other words, property owned jointly by both spouses has to be divided at the time of the divorce. Assets considered the property of just one spouse do not get divided.
Community property typically refers to:
- All earnings during marriage
- The assets acquired using those earnings
Separate property typically refers to:
- Earnings and assets acquired before the marriage
When getting a divorce, the parties may agree upon how they will divide property among themselves or allow a judge to rule who gets what if the couple cannot reach an agreement.
If you are going through or considering a divorce, contact the San Diego divorce lawyers of Fischer & Van Thiel, LLP today at 858-935-6211 for more information about division of property and your legal rights.