Sacramento Area Property Division Lawyer
The division of assets and debts that occurs in a divorce can be a very complicated matter. The property that has been gained during the marriage is called community property. Community property should be divided in half. But, can you readily identify what is and what isn’t community property when the time comes for your property division?
More valuable items can create difficulties in a property division. Were any of the items inherited individually by a spouse during the marriage? Did the classification of any substantial item owned by one spouse before the marriage possibly change to community property due to commingling? What portion of a retirement fund is a spouse entitled to?
Financially Substantial Items to Consider During Your Property Division
The following list addresses some of the items that can come into question while a complex division of assets is being worked out:
- Real estate (home, second home, vacation home)
- Retirement funds such as a 401(k) or pension
- Business ownerships
- Stocks, stock options, and other investments
- Debts including credit cards, taxes, vehicle and personal loans
Retirement benefits are a very important part of most marriages’ community property. I have experience in using Qualified Domestic Relations Orders (QDRO) to create a right to payment from a retirement fund to the non-participant former spouse. If not addressed correctly, you may later have problems receiving your funds or with your ability to retire when the time comes – often years after the divorce. Make sure everything is completed correctly the first time!
Effective Property Division Negotiation
Once all of the relevant property has been identified and determined to be community or non-marital property the actual discussion of who will get what property can begin. At this point the tax consequences of these decisions will need to be reviewed to ensure that the value expected is the real value received. This sort of consideration is very useful in high asset divorces in California. As a divorce attorney, I utilize my detail-oriented approach to fully maximize my client’s benefit from property divisions.
Contact My Gold River, California, Family Law Firm
I offer free initial consultations and accept major credit cards for my clients’ convenience. Call 916-287-3237 or contact me online to learn more about how I can help you.