San Diego Property Division Lawyers Who Make Sure What’s Yours, Stays Yours During A Divorce

Property division is often the most complicated and contentious part of divorce. After building a life together, there’s much to sort out when the marriage ends. But having the right San Diego property division lawyers on your side during this process can help simplify things and make it less stressful and more efficient.

The divorce and property division lawyers at Butler Law, PC, are well-versed in property division and can help ensure you get a fair settlement. We have years of experience and dedicated skills in the property division. Our knowledge and resources can help you secure a settlement that works for you and helps set you up for the next phase of your life.

Even if your divorce seems completely amicable, there are still many things you’ll need to go through during a divorce. Dividing all your property from your house to your bank accounts to your business interests is complicated, no matter how you look at it. When you work with us, we’ll walk you through the process and advocate for you at every step. An attorney who gives you personal attention can be your best asset during this process. Our divorce and property division lawyers work directly with you to problem-solve and develop strategies that will suit your situation exactly.

What Is California Community Property Law?

California community property law governs the division of assets and debts between spouses or domestic partners during divorce or legal separation. Property acquired by either spouse during the marriage is considered “community property.” This is subject to equal division in the property division process.

Community property includes marital property obtained during the marriage, regardless of which spouse earned or purchased it. Examples of community property assets include:

• Real estate: Homes, land or commercial property purchased during the marriage.
• Retirement accounts: Contributions to pension plans, 401(k)s or IRAs made during the marriage.
• Income and wages: Earnings from both spouses during the marriage.
• Bank accounts and investments: Joint or individual accounts funded during the marital period.
• Personal property: Includes vehicles, furniture and tangible items acquired during the marriage.

However, certain assets are classified as separate property and excluded from the community property division. These include:

• Personal property: Assets or debts acquired by a spouse before the marriage
• Gifts or inheritances: Items one spouse receives as a gift or inheritance, even during the marriage
• Personal injury awards: Settlements or judgments awarded specifically to one spouse
• Property acquired after separation: Assets or income earned after the spouses physically separate with no intention of reconciliation

Determining whether something is community property or separate property can be complex. If separate property appreciates, it can be subject to partial division. This happens if separate and community property are combined as well.

Debts incurred during the marriage are considered community property. The exception is if credit card debt or loans were taken for reasons unrelated to the marriage.

California’s property division process helps ensure each spouse receives a share of the marital property. Community property law knowledge is crucial when dealing with real estate or retirement accounts. Our divorce attorney can help ensure you understand the division of your property according to California laws.

What Is The Property Division Process Like?

In California, part of the divorce process is to divide all of the property that you and your spouse have acquired. Property is anything that can be bought or sold or anything that has a value like:

1. 1. A house or investment properties
   2. Vehicles, boats and trailers
   3. Bank accounts
   4. Jewelry, art and collectibles
   5. Furniture and appliances
   6. Retirement and pensions
   7. Stocks, bonds and mutual funds
   8. Business interests

 

Property is usually categorized as either community property or separate property. Community property is defined by Family Code section 760, which generally states that all property acquired by a married person during the marriage is community property. Separate property is defined by Family Code section 770, which includes all property owned before marriage, after marriage by gift, bequest, devise, or descent, and the rents, issues, and profits of any separate property. California law requires that the court equitably divide the community estate. However, at Butler Law, PC, we strive to reach out‑of‑the‑box negotiations for our clients to obtain the best possible outcome while retaining what is most important to you.

Although the definitions of community and separate property seem black and white, the division of property becomes more complicated when property is accumulated both before and during the marriage. For example, if one spouse has a 401(k) that they have been contributing to both before and during the marriage, this property is now both separate and community property. The team at Butler Law, PC, can help you strategize a fair division of these types of assets.

Complex Division Of Property

Division of property can be more complex if a business is involved and is the main source of income for you, your spouse, or both of you. The courts use specific methods, including those made standard practice in the Van Camp and Pereira cases, to determine the value of the business. Choosing the property method of valuation is complicated, but in general, the Van Camp method maximizes the separate property value, and the Pereira method benefits the community. Oftentimes, an expert will be necessary to give their opinion as to the business’s value to assist in either negotiating a fair buyout between spouses or for the court to use if litigation is necessary.

In complex family law cases, issues may also arise regarding tracing separate property contributions to the community assets. The San Diego property division lawyers at Butler Law, PC, are familiar with these issues and can assist you with obtaining a full picture of the marital estate by utilizing discovery techniques, subpoenas, depositions, and experts to help you reach an equitable resolution.

Contact Our Family Law Firm To Discuss How We Can Assist You With Division Of Your Property

The skilled lawyers at Butler Law, PC, can you determine how your property should be divided, whether through a settlement agreement or through court. Call 619-514-3365 or book an appointment here to schedule a consultation to discuss your property division concerns.