Community Property Division in California
Under California division of property laws, the courts will presume that almost all property and debt acquired during a marriage is community property. Both spouses own a fifty percent interest in community property and debt and will, in most instances, receive an equal share of both marital assets and debts upon a divorce.
At the Law Offices of William M. Strachan, we represent people in a divorce involving complex division of marital property. Before finalizing a divorce, courts must obtain a fair appraisal of community property and debt. To learn more about the division of marital property, contact us for a free initial consultation.
Characterizing Community Property
The court will divide the property characterized as community property and debt between spouses equally, unless the parties have agreed to a different division. Property classified as separate property will be confirmed to the spouse who owns the asset. There are instances where a piece of property will have aspects of both community property and separate property. For the spouse alleging that an asset is either separate property or has a separate property interest, he or she bears the burden of tracing the separate property source to the community property acquisition or improvement. In circumstances where the parties have more debt than assets, the court could divide the debt unequally if the circumstances warrant.
Given the stakes, it is important to know how to convince a court that property is either community or separate property.
Appraising Property of the Marriage
Property appraisals are another critical step in the division of property during a divorce. How a court appraises marital property can have an enormous impact on its value. Market fluctuations can have a significant effect on the value of a business, home, and investment. We will hire experienced and locally known accountants and forensic experts to appraise your property.