San Diego Division of Assets Lawyers
Dividing property between spouses can be a highly contentious issue that drags out the divorce process for an extended period of time. Most states follow the practice of equitable distribution, meaning that property is divided in a manner the court decides is fair, but not necessarily equal in financial worth. However, California is one of the few states that follow community property laws, which require a strict 50-50 division of property that is jointly owned between the spouses.
If you or someone you know needs assistance securing the fair distribution of marital property, contact the San Diego division of assets attorneys at Fischer & Van Thiel, LLP, by calling 858-935-6211.
Separate vs. Marital Property
Most property acquired or shared during the course of a marriage is considered marital property and thus is subject to division between the spouses. However, some property is considered separate property and is not divided among the spouses during divorce, including property that has been:
- Acquired by one spouse before the beginning of the marriage
- Acquired through inheritance or gift, or acquired in exchange for property inherited in this manner
- Acquired after a legal separation
- Excluded due to a prenuptial or post-nuptial agreement
- Awarded to one spouse through a legal judgment
Sometimes divorcing couples have difficulty determining what constitutes separate or marital property, or how to fairly distribute their property. Prior to going before a judge, it is important to work with a qualified attorney to properly outline your needs and wishes.
If you or someone you know is considering divorce and needs to draw up a fair agreement to divide property between spouses, it is important that you speak with a legal professional. For a free consultation, contact the San Diego division of assets lawyers of Fischer & Van Thiel, LLP, at 858-935-6211.