Divorce – Property Division In California
Los Angeles Family Lawyers and CPAs
Property division issues during a divorce can be complicated. We recommend retaining experienced family lawyers to protect your best interests. The marital assets can include your home, bank accounts, investments, retirement accounts-basically any asset that was acquired during the marriage.
As experienced divorce lawyers we understand the California community property law as it applies to dividing up the assets. Next to child custody matters, property division ranks as most important with clients.
Working out a property division solution that is equitable to all parties would take into account what debt exists and what are the income tax consequences of various options. Valuation of assets is important and as family lawyers and Certified Public Accountants, we are experienced in doing these complex calculations. As needed we will work with an appraiser or other specialized expert.
The procedure is for each party of the divorce proceedings to disclose all facts relating to “community property” (marital property) vs. other assets that are considered separate property-such as assets subject to a pre-nuptial agreement. This is the framework by which the division of property will take place. The court is obligated to divide the marital property equitably between the parties.
Our approach is to determine all the facts, then negotiate with the other party’s attorney to come to an amicable resolution. However, if the asset division becomes contested by the other party, we have considerable experience with presenting complex financial and valuation evidence.
John Spurgeon & Associates, serving the greater Los Angeles area, family law firm has an extensive experience in the areas of divorce and property division under California law. To speak with Mr. Spurgeon about this or other family law issue, please contact us today at 626-440-9518 for a complementary confidential consultation.