Asset & Property Division

Asset & Property Divisionfotex2024-04-02T12:04:45-07:00

Reputable Asset and Property Division Attorneys in San Diego

JWB Family Law works to protect any client assets and property that are subject to division during the dissolution process. In California, which is a “community property” state, courts strive to make an equal division of the community estate at dissolution. Characterizing clients’ property interests as “community” or “separate” is the critical starting point for dividing property. Characterization is extremely important because each spouse owns an equal interest in all community property and both spouses have equal rights of management and control over community property. Therefore, working with experienced property division attorneys in San Diego will help you accurately characterize your property in accordance with the very complex body of law.

We have what it takes to resolve a complex situation

At JWB Family Law, we diligently work to ensure each asset is disclosed by your spouse and properly appraised. Our attorneys frequently work through complicated property issues involving business valuations, stock options, bankruptcies, trusts, retirement funds, deferred compensation, disability benefits and more.

In divorce proceedings, separate property, different from community property, belongs solely to the owner spouse. Our property division lawyers will advise you before and during a divorce about the characterization of your assets and will work with you to best assert your claims to property in the divorce proceeding.

Our property division lawyers will protect your rights

If you’re going through a divorce, our attorneys can help you understand your legal rights and obligations. We will explain the detailed procedures involved in a dissolution and your legal alternatives. Every case is different, and our goal is to work with you to determine the best way forward in your unique situation. Our experience can give you peace of mind that your legal rights are protected during this difficult time. Our property division attorneys in San Diego offer professional and confidential counsel aimed to provide creative and advantageous solutions for your specific needs.

Need help dividing your assets?
Call us today at 619.234.6123.

Frequently Asked Questions

Can you get a divorce without splitting assets?fotex2023-10-25T22:01:44-07:00

In California, property division must follow the laws stated in the California Family Code. These laws detail how all property and debt acquired during the marriage typically must be divided equally between the spouses at dissolution. However, there are a few statutory exceptions to this rule. For example, by written agreement or oral stipulation “in open court,” parties are free to divide their community estate however they like—whether equally or unequally. Courts will accept properly stipulated division agreements and have no role in approving or disapproving property divisions agreed to by the parties.

So, while parties do have an opportunity to agree on how to split their community assets, it is necessary to be aware of community property laws and how they will affect the court’s division of property if no agreement is reached between the parties. If you have any questions about properly drafting a written agreement, it is always best to consult with our experienced attorneys who specialize in family property division.

How is property divided in a divorce in California?fotex2023-10-25T22:01:03-07:00

In a California dissolution, property is first characterized as community property or separate property. Community property includes the assets and liabilities of both parties acquired during marriage and before separation. Generally, property acquired before marriage, during marriage by gift or inheritance, or after separation, is considered separate property of the spouse who acquired the property.

If the property division issues are submitted to a court, the court is mandated to make an equal division of the value of the community property. This essentially means that each spouse is awarded half of the value of all property acquired during the marriage. Separate property is awarded to the owner spouse. Unique exceptions to the mandatory equal division requirement include personal injury damages, domestic violence damages, deliberate mismanagement of community property, and family pets.

To better understand the differences between your community and separate property, set up your free consultation with our knowledgeable property division lawyers.

How is a business divided in a divorce?fotex2023-10-25T22:00:08-07:00

During a dissolution, a business will be characterized as a community property business or separate property business. If the business was founded before the marriage or inherited by one spouse, then the business may be considered separate property. On the other hand, if the business was founded or acquired during the marriage, it will likely be considered community property and subject to division at dissolution. However, it is sometimes appropriate for the court to award a community property business to one spouse.

If it is not feasible for each spouse to receive an equal share of the business, there are several ways that the business can be divided between spouses in a divorce. When only one spouse operates the business, it may be appropriate for the court to award the business to the operating spouse rather than sell it to a third party. In addition, a business or professional practice that requires a license must be awarded to the spouse who holds the license. Although it is possible for a community property business to be awarded to one spouse, a sale of the business and division of the goodwill and proceeds may be the most economic and equitable approach.

If you are getting divorced and have significant business assets, get in touch with our property division attorneys in San Diego to learn more about your business options during the divorce proceedings.

How is a house divided in a divorce?fotex2023-10-25T21:59:14-07:00

The family residence is often an asset that both spouses would like to be awarded. A court order for sale and division of proceeds is often the most practical and least expensive way of effecting an equal division of difficult-to-value assets or property which each spouse wants awarded to them.  A house may be characterized as separate property or community property depending on the time the house was acquired, and the source of funds used to acquire the house or make payments towards the house. If the house is community property, it will be subject to division at dissolution.

The court can also award exclusive possession of a community property residence to one spouse and reserve the right to value and divide the residence in the future. If a couple has children, the court may award the house to the spouse with primary custody of the children to minimize disruption to the children’s lives. There are also situations where one spouse can claim “reimbursement” or credit for their separate property contributions to the community residence.

There are many other factors the court will consider when dividing property in a divorce and it is essential to consult with an experienced family property division attorney to protect your rights.

Who are the finest family property division attorneys in San Diego and the area?fotex2023-10-25T21:57:13-07:00

JWB Family Law has a long history of helping families through the property division process. Our knowledgeable and experienced attorneys are here to help you through the proceedings of child custody and visitation, the process of divorce involving military personnel and their spouses, and all matters concerning divorce in San Diego and the nearby areas. What’s more, we’ll be here to help you with your asset and property division in Temecula and provide assistance for your property division in El Centro.

We understand that this can be a difficult and emotional time for our clients. Our attorneys work diligently to foster a relationship rooted in trust and confidence with our clients to provide the best possible outcome for each individual case. Contact us today to schedule a consultation, and let us help you protect your interests and future in Riverside County and across San Diego County.

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