Culver City Property Division Lawyer
Culver City Divorce Lawyer for Property and Asset Division
Searching for a lawyer for property division in Culver City? One of the most contentious issues in a divorce can often be property and asset division. As a community property state, matters can become complex, particularly in marriage of long duration when there may have been a commingling of personal funds or assets. For example, if one party was the sole owner of the family home, but the family resided in that home for many years, and the other partner was the main caregiver for children, the court could view this particular personal property as at least partially owned by both parties, or the increase in value of the property over the duration of the marriage is now community property.
At Widger & Widger, APLC, our Culver City divorce attorney has a great deal of experience in both simple and highly complex divorce cases, in negotiating settlements, and in pursuing a reasonable resolution to property and asset division in a divorce.
Need an attorney for a property division case in Culver City? Call our firm to request a complimentary consultation today to get started on your case!
Community Property vs. Separate Property in California
Community property- When a marriage ends in divorce, community property is split between the two properties. According to California family law, community property includes all real or personal property that was acquired during the marriage. Regular income is included and categorized as community property, even if it is in a separate bank account. This means that your spouse holds 50% interest of the income (as long as the income is not acquired through separate property).
Separate property- If you have any property or assets that were gifted to you or that you inherited, it is considered separate property. It does not matter if it was gifted to you before or during the marriage. Also, any property that was acquired prior to entering into the marriage is considered separate. Same thing goes for any property acquired after the divorce is finalized.
Negotiating a Fair Divorce Settlement
There are a number of ways that property and assets can be split in a divorce including a one-time payment, payments over several years, or monthly. Each case should be carefully evaluated to determine the best solution, based upon the various properties owned by both parties. In some cases, the family home must be sold and the profits split, or one party buys out the other. Retirement funds, from the point of the marriage forward, are considered to be community property. Stock accounts, bank accounts, valuable works of art, furniture and even pet ownership are on the table.
Looking for an attorney for a property division case in Culver City?
It can serve you well to have a highly skilled Culver City divorce lawyer working with you on this process. A settlement achieved through negotiations is often far better – for both parties. The agreement may be more likely to be adhered to, and the process of dividing assets could be faster and require less legal work, as well as avoiding a trial, which can be expensive, due to a number of court appearances.
If your case must be resolved at trial, you need to ensure that your legal representation is highly qualified, experienced and can craft a case that is well-documented and more likely to get a favorable outcome. Call Widger & Widger, APLC at
(888) 806-5445 for help today.