Marriage is a strong economic institution, and as a result, the division of property and debts is often the most difficult and contentious issue in a divorce, legal separation, or domestic partnership termination. Division of property is a critical issue for most couples in San Jose and, without an attorney, it may affect your future greatly. It is essential to consult an experienced divorce lawyer as soon as possible to begin the process of identifying, characterizing, and valuing assets and debts so they can be properly divided.
The San Jose property division attorneys at Aeschleman Law are here to aggressively negotiate and advocate the terms of your property division.
California, A Community Property State
California is a community property state. As such, there is a rebuttable presumption that all assets acquired during the marriage or domestic partnership are community property, entitling each spouse or domestic partner to a one-half interest in that asset. Conversely, there is a general presumption that all assets acquired prior to the marriage or domestic partnership and after separation is the separate property of the acquiring spouse.
However, these are only presumptions. There are several exemptions and factors that an experienced divorce lawyer can look into in order to determine your property interests. For instance, an experienced divorce law attorney may trace community funds used to purchase/acquire property after separation, entitling the non-acquiring spouse to an interest in the property. Property characterization and property division can be a complicated process, and without the proper consultation, your financial interests could be impaired.
The attorneys at Aeschleman Law can engage in a detailed analysis to determine the character of various assets and debts to ensure that your property rights are protected.
Valuation of Community Property
Along with determining the character of assets and debts, the attorneys at Aeschleman Law can help you determine the proper valuation for your assets to ensure a fair division. Under Family Code §2552, before Court can order an equal division of community property, it must first determine the value of all the assets and debts.
While valuation of assets and debts may appear relatively easy, in many cases, a family law lawyer is needed to analyze fair market values, comparables, appraisals. Furthermore, expert testimony may be necessary when there is a dispute as to value. At Aeschleman Law we will assist you in determining the accurate valuation of your property either through our in-house team or through referrals to prominent appraisers, accountants, real estate agents, and financial advisors.
Division of Community Property
Under Family Code §2550, Courts are obligated to divide the community estate equally between spouses and domestic partners. However, there are circumstances when a Court will not be bound to split the community estate equally.
Per Family Code §2550(e), spouses may divide their community estate by written agreement or oral stipulation (in court) in any manner they desire, regardless of whether it is equal or unequal. However, per Marriage of Brewer & Federici (2001) 93 CA4th 1334, 149, such agreements must be “based on a complete and accurate understanding of the existence and value of community and separate assets that are material to the agreement.” At Aeschleman Law, we assist you in the process to ensure that you have complete and accurate understanding of your assets and debts.
Ultimately, regardless of whether you decide to litigate your property division or stipulate to a property division agreement, it is critical that you consult with an experienced and knowledgeable family law attorney that can assist you in obtaining a fair and equitable division.
STOCK OPTIONS, RETIRMEENT ACCOUNTS, STOCK ACCOUNTS
Family Business Interests
If you or your spouse has an interest in a business, whether it is a sole proprietorship, limited liability company, a partnership, or corporation, it is critical that you consult a family law attorney. The services necessary to protect your interests in a family business can be complex, and the attorneys at Aeschleman Law are ready to provide the analytical services necessary to protect your interest.
Your personal property, including cars, vehicles, jewelry, art, antiques, furnishings and other personal possessions must be divided during a divorce. The divorce attorneys at Aeschleman Law are available to assist you in that division, as well as to provide different approaches to achieving a fair division.
Negotiating and advocating the equitable division of property after a divorce can be complex and may require extensive analysis. The San Jose property division attorneys at Aeschleman Law have the financial experience and knowledge to ensure that your property rights and interests are protected.
Aeschleman Law is located in San Jose and serves Santa Clara, Alameda, and San Mateo Counties. Call us today for an initial consultation at (408) 724-8930. You may also contact us by filling out the form on the bottom of this site.