Lake Forest Divorce Lawyer – Hiring The Right Family Law Office For Your Child Custody/Support, Spousal Support/Alimony, Fathers Rights, Visitation Rights, Property Division Matters Will Be To Your Best Interested
- 1 Lake Forest Divorce Lawyer – Hiring The Right Family Law Office For Your Child Custody/Support, Spousal Support/Alimony, Fathers Rights, Visitation Rights, Property Division Matters Will Be To Your Best Interested
- 2 Separate Property and Community Property
- 3 Dividing The Property During Divorce
- 4 Get Connected With Experienced Divorce Law Firm For No Rush Consultation
When faced with a divorce in the area, many people wonder if it is necessary to hire the professional services of a Lake Forest divorce attorney and family law lawyer. The truth is that an attorney ensures that your legal rights are protected throughout the process, but there are situations that might not require the services of a Lake Forest divorce attorney such as in summary divorce or uncontested divorce. However, it is still recommended that you seek a law firms help to make sure that your best interest is protected.
Separate Property and Community Property
One of the benefits of seeking a Lake Forest divorce lawyer help is to help protect your property rights during divorce.
Under the California law, any property that is acquired during the existence of marriage belongs equally to both parties. Therefore, during the divorce, such property is divided equally.
There are three steps that should be followed while dividing property after a divorce petition. First, separate and marital property should be identified and determined. Secondary, spouses should agree on marital property values. Lastly, the parties should decide on how to share the property.
Under California law, debts and assets accumulated during marriage are presumed to be community property. On the other hand, any property that a spouse acquired before marriage or acquired as a gift is considered to be separate property. Exchanges, earnings and profits emanating from separate property are also treated as separate property. In addition, if a spouse accumulates property after the date of separation, that property is separate. Date of separation can be proved by physical separation or any actions that show that spouse decided to terminate the marriage.
The date of separation can be a much contested issue, especially if after separation one spouse earned a lot of money. If the party fails to agree on date, depending on the evidence adduced, the court can decide on the date of separation. When the evidence of the spouses conflict, the court will most likely lean on the earlier date. Consequently, more property becomes community property.
Property can be partly separate and partially community. For example, a business that one party started before marriage and during marriage. In such case, drawing a distinct line between community property and separate property can become complex and frustrating. In case of complex property, spouses need to seek an attorney’s advice. Spouses who fail to decide on complex property may seek the intervention of the court.
Dividing The Property During Divorce
Spouses can divide the property by selling the assets and sharing the proceeds. One spouse may also decide to sell his or her share to the other party. Spouses can also decide to jointly own property, even after the divorce. Although holding property together is not the best option, some couple opts to reserve a family home as long as children are young. Please consult a Lake Forest divorce attorney and family law lawyer.
Get Connected With Experienced Divorce Law Firm For No Rush Consultation
Please contact us now to be connected with a Lake Forest divorce attorney and family law lawyer for consultation.