Huntington Beach Property Division Lawyer
Practice Areas
Huntington Beach Property Division Attorney
No one enters a marriage thinking that it will end. It is a significant commitment that brings two people to start building a family — and, in most cases, their belongings — together. When a couple decides to end their marriage, the process can be time-consuming and emotionally complicated, no matter what the circumstances may be. An experienced Huntington Beach property division attorney can come alongside you and offer guidance to ensure this process goes as smoothly as possible.
Once a divorce is imminent, there are certastacin steps a couple needs to take to make sure their marriage is legally ended. These things can include making determinations on child support, custody, and visitation, along with deciding on any necessary spousal support. Additionally, a couple can amass quite a bit of debt and assets throughout their marriage, and legal help may prove crucial in order to make the division of these elements fair.
Due to their complex nature, divorce proceedings can sometimes pose a threat to one’s own personal time and finances. This is why an experienced Huntington Beach property division attorney can be vital in ensuring your divorce is settled in as peaceful and efficient a manner as possible. The right attorney will make it their number one priority to protect your property and assets and make sure you receive the half you deserve.
No one enters a marriage thinking that it will end. It is a significant commitment that brings two people to start building a family — and, in most cases, their belongings — together. When a couple decides to end their marriage, the process can be time-consuming and emotionally complicated, no matter what the circumstances may be. An experienced Huntington Beach property division attorney can come alongside you and offer guidance to ensure this process goes as smoothly as possible.
Once a divorce is imminent, there are certain steps a couple needs to take to make sure their marriage is legally ended. These things can include making determinations on child support, custody, and visitation, along with deciding on any necessary spousal support. Additionally, a couple can amass quite a bit of debt and assets throughout their marriage, and legal help may prove crucial in order to make the division of these elements fair.
Due to their complex nature, divorce proceedings can sometimes pose a threat to one’s own personal time and finances. This is why an experienced Huntington Beach property division attorney can be vital in ensuring your divorce is settled in as peaceful and efficient a manner as possible. The right attorney will make it their number one priority to protect your property and assets and make sure you receive the half you deserve.
How Is Property Divided in a Divorce
In California, the purpose of property division is to make sure all marital property is evenly distributed between the two divorcing individuals based on the value of the property they own together. Regardless of which individual initiates the divorce proceedings, all property, including debts and assets, are to be divided evenly.
These assets may include vehicles, homes purchased, investments, and more. Assets to be divided should encompass anything that was shared during the marriage and must now be split fairly between the divorcing parties. This property division is an essential part of your divorce process, and having someone at your side who understands and has experience with the laws and regulations of California divorces is integral.
Why Stacy L. Campuzano Is the Right Choice
For nearly two decades, Stacy L. Campuzano has been assisting her clients with their divorce and custody proceedings, focusing her care and attention on client’s personal needs and desires. She will do whatever she can to be right for her clients and advocate for the justice they deserve.
The right poetry division lawyer can make all the difference and will be vital to the success of your divorce process. This is especially true when it comes to splitting all assets and debts owned by you and your soon-to-be ex-spouse. You will want to have experienced representation on your side, fighting for a favorable outcome. Our law firm is here to assist you in all negotiations when it comes to the division of marital property.
In most cases, the process surrounding divorce and property division is unfamiliar to those seeking divorce. Experienced legal help from a divorce lawyer can be valuable even if the circumstances surrounding your divorce are amicable. It is integral that procedures are followed properly and that the agreement — should it include child support, child custody arrangements, or spousal support — is made in accordance with what the courts will accept.
The Process of Property Division
When a divorce is inevitable, and an equitable division of poetry must be made, it is necessary that you have all the information on hand that will make the fair split possible. This information may include:
- When the purchase of certain property items was made.
- What the value of certain assets is.
- Whether the property is shared between you and your spouse or if it belongs to only one of you.
This process has the potential to consume a large amount of time, but overall, there are three main steps to take when it comes to dividing marital property. If you follow these correctly, it will help your divorce proceedings happen in as timely a manner as possible.
- Step one. Determine which property is shared and which is separate. Factors such as if the assets were gifted or inherited, when they were acquired, and if the assets provide the owning spouse with income must be addressed. Additionally, if you own a business or rental property, then this determination may prove difficult. However, a property division attorney will be able to offer the necessary advice on how to move forward.
- Step two. Give specific values to each piece of property that is being divided. Once all shared property has been correctly determined, you can begin the process of assigning specific monetary value to each of the qualifying pieces of property. If assets such as employment benefits, profit-sharing accounts, or retirement accounts were acquired during the marriage, these would be considered shared assets.In this case, an evaluation may be required to be performed by a financial advisor, like a certified public accountant, so that the correct monetary value may be assigned to those assets.
- Step three. Ensure the completion of the division process. When the total amount of shared assets is complete, the divorcing couple can make decisions on who will receive which individual pieces of property and make sure they each end up with assets that have the same overall value. This can cause tension, and it is important to have an attorney beside you to ensure you receive what you deserve.
This entire process can feel stressful and overwhelming, especially if the divorce itself is contentious. A trusted Huntington Beach property division attorney can stand by your side and ensure you receive the property you are entitled to.
Create a List
When you sit down to determine what property is shared and what isn’t, it can be easy to forget some things. The optimal way to ensure no assets are forgotten is to create a list of everything owned in the marriage. This list might include:
- Artwork
- Furniture
- Jewelry
- The marital home
- Cars
- Clothing
- Furs
- Collectibles
- Antiques
- Boats
- Crystal and china
- Recreational vehicles
- Cash
- Pensions
- Mutual funds
- Trusts
- IRA or 401(k) plans
- Bonds and stocks
- Retirement accounts
- Checking and saving accounts
- Cash values of life insurance policies
Items That Are Considered to Be Community Property
All property that was acquired during your marriage is what would be considered community property. Things such as stocks, personal property, real estate holdings, and other assets would be included. If only one spouse’s name is on the title or if only one spouse technically purchased the asset, it is still considered community property.
Every single piece of property that was gained during the marriage is determined to be community property. Following the determination, the overall value will be totaled and then equally divided between the divorcing parties.
Any debt will also factor into this division once the divorce is finalized. Debt acquired during the marriage is to be evenly divided between the two spouses. However, debts that were accumulated before the marriage will be the sole responsibility of the party who owns the debt.
What Is Not Considered Community Property
When a divorce is initiated, it is important to know what assets you will be entitled to keep. These might be any high-value assets or items of sentimental value that you would like to keep away from the division process. Thankfully, there are certain items that the state does not consider community property and are, therefore, usually not divided in a divorce.
Separate property would include anything that was owned prior to the marriage. If you purchased a vehicle before your marriage, even if your spouse mainly uses it, it would not be considered community property.
Additionally, there might be some assets that are acquired during a marriage that remain as separate property. Things such as gifted property or property or assets inherited through a will qualify as separate property and are therefore not divided in a divorce.
What Assets Are Protected in a Divorce
When seeking a divorce in California, there are certain assets that you might like to try to protect. Because of various community property laws, any assets acquired during the marriage have the potential to be divided under the divorce agreement.
However, there is always the ability to protect your assets before and even during the course of your marriage. This is not a sign of bad faith or disbelief in the bond between you and your spouse. It is simply a way of protecting yourself if the worst-case scenario were to occur.
A prenuptial agreement is one way to protect your assets. It is a legal document created before the parties are married. It lays out which assets belong to which individual and legally dictates the fact that these assets will not be held to the state’s community property laws and regulations upon a divorce.
A postnuptial agreement is a separate legal document that can be established between couples that cut out the community property laws of the state. Though similar to a prenup due to its protection of both individual’s assets, it is written up while the couple is still married.
Uncovering Hidden Assets
When faced with the property division aspect of your divorce in Huntington Beach, California, you will want to ensure that all assets are identified and accounted for so that you receive the half that you are due. Unfortunately, in some divorce cases, one spouse or the other may try to hide certain assets from their spouse.
An experienced Huntington Beach property division attorney can assist you in evaluating the value of any business owned, as well as uncovering any bank accounts, investments, or assets owned by your spouse in the marriage that you have no knowledge of. Your lawyer can help locate all the assets shared in the marriage.
In some cases, these divorce proceedings can go to trial, especially in circumstances where one spouse is being dishonest about hiding community assets. The team at the Law Office of Stacy L. Campuzano is here to represent you should you find yourself in a complicated legal court matter.
Common Assets That Might Prove Difficult to Classify
In some divorces, the classification of certain assets as community property or separate is not always black and white. If one of the divorcing parties does not legally own an asset or property but was a key player in how that asset or property came to be, then it is possible that they may still hold a claim to or interest in the asset or property.
Common assets that are not always easy to classify include:
- Family homes. It is challenging to have to find a new place to live no matter the circumstances, especially in cases of divorce that add emotional stress and financial strain. It may prove difficult to decide which spouse gets to keep the family home and which one has to move out. When children are involved, the parent who retains primary custody will stay in the home until the divorce is finalized.
Once the process of property division has started, the divorcing parties will then decide if this arrangement will remain, if the other parent will take full ownership of the house, or if the property will be sold.
- Pets. If a divorcing couple owns pets together, they may find it difficult to negotiate which spouse gets to keep which pet. If they find that they are unable to reach an agreement on their own, they can ask the judge to make the decision for them. The judge will then take into account factors such as whether the pet will have access to necessities with which spouse, the safety of the pet, and the kind of veterinary care available.
The judge may then grant one spouse sole custody or suggest that the divorcing couple share custody of the pet.
- Professional licenses or degrees. During a marriage, if any higher education degrees were earned or professional licenses obtained, these will be divided as community property. However, there may be some restrictions in place. If your spouse completed their degree or license while you were married, you may be entitled to some reimbursement for the cost of their education.
Contact a Huntington Beach Property Division Attorney Today
Legally ending a marriage can be stressful, time-consuming, and financially and emotionally draining. Dividing assets can only add to this stress and pose challenges no matter the circumstances. Hiring the legal counsel and representation of a trusted Huntington Beach property division attorney can make all the difference. Contact the Law Office of Stacy L. Campuzano today to see how we can help.
