San Jose Property Division Lawyer
When your divorce is finalized, important settlements will have been reached regarding the division of property. The Law Office of Marilla J. Ronald can provide you with the legal counsel needed to ensure these decisions are made in your best interests, with your rights and your future clearly considered. As a Certified Family Law Specialist*, I provide skilled and dedicated help to people throughout the process of dividing property, assets and debts.
Are you experiencing a divorce and would like to discuss property division with a lawyer? Contact me to schedule your confidential consultation.
Community Property and Separate Property
California is a community property state. This means that all property acquired during marriage, except for property received by inheritance or gift, is community property and each party is entitled to one-half. Generally speaking, all debts accrued during marriage are obligations of the community.
Separate property is property that was held prior to the date of marriage and may also include property that was acquired with the proceeds from the sale of an asset owned prior to marriage. Property received by gift or inheritance may also be separate property.
As an experienced Certified Family Law Specialist, I will advise you regarding your rights to community property and assist you in asserting any separate property claims that you may have.
When dividing property and debts in a divorce, the first issue to determine is the characterization of the property as community or separate. Additional issues arise where the spouses may have contributed to the separate property of one party. After the character of the property and the nature of any reimbursement claims are determined, the property must be divided.
Marital property may include the family home, vacation residences, rental properties, a business or business properties, 401(k) accounts or other retirement plans, pensions, stocks and stock options. If necessary, the use of a forensic accountant, actuary or appraiser will be useful to determine the value of an asset, separate and community interest in the asset or any claims of reimbursements.
Upon the division of retirement and pensions accounts, it is often required by the retirement plan that a Qualified Domestic Relations Order is prepared to divide the account.
I look forward to helping you obtain a fair division of property. Contact me today to schedule your confidential consultation.