Division of property in a divorce is a major part of a divorce. When a marriage ends in divorce, the couple must decide how to split their property and debts.
This is often a major area where couples disagree. Coming up with a division of property that both consider fair can be a challenge. Bradley Bayan has experience in working out a marital settlement agreement that is a fair and equitable distribution of assets and debts.
If you and your spouse can’t come to an agreement on how to split your assets and debts after filing for divorce, you may end up in court and the judge will decide for you. Generally speaking couples are better served if they can come up with their own distribution. Sometime though if a couple cannot find a compromise going to trial may be the only way to resolve it.
Judges typically consider several factors when making these decisions, including the length of the marriage, age of each spouse, the education level of each spouse, the profession of each spouse, and prenuptial agreements. Unfortunately you may not be happy with the judge’s decision so that is why attorneys and their clients are better off trying to find their own fair division.
Bradley Bayan has more than 20 years of experience and is licensed by The California Bar. He has demonstrated a high level of experience, education, knowledge and skill in matrimonial and family law with a particular understanding of divorce in California.
In a California divorce, the property is generally divided according to the principle of “community property.” This means that each spouse is entitled to one-half of the community property, which includes all property acquired during the marriage, except for gifts and inheritances. If the couple has children, the court may also consider factors such as child custody and support when dividing property.
In a California divorce, the property is generally split 50/50 between the spouses. However, there are some exceptions to this rule. For example, if one spouse owned the property before the marriage, that spouse may be entitled to a greater share of the property. Similarly, if one spouse contributed significantly more to the acquisition or maintenance of the property during the marriage, that spouse may also be entitled to a greater share. The court will consider all relevant factors in determining how to divide the property in a fair and equitable manner.
California is a community property state. In a divorce, the community property rules apply to the division of assets and debts between spouses. marital property is divided equally between spouses, and each spouse is responsible for their own separate property. Debts are also divided equally between spouses.
Community property is a type of ownership available to married couples in some states. It allows couples to jointly own property and assets and provides for an equitable division of these assets in the event of a divorce. California is a community property state. This can make the division of assets during divorce more complex, as each spouse may have a claim to half of the community property. However, community property division is one of the many issues that can be negotiated in a divorce settlement.
Generally speaking, in a California divorce, all retirement accounts and assets are subject to division. This includes 401(k)s and pensions. How these assets are divided will depend on a number of factors, including the length of the marriage, the age and health of the parties, and each party’s respective income and earning potential.
The process of dividing property in a California divorce is generally initiated when one spouse files a divorce petition with the court. If the couple has minor children, the spouse who files first must also file a declaration of disclosure, which includes information about each spouse’s assets and debts.
Once the divorce petition is filed, the other spouse must be served with divorce papers. Once both spouses have received the papers, they have 30 days to file a response. If no response is filed, the court will assume that the other spouse agrees to the terms of the divorce and will proceed accordingly. Most divorces though spouses do respond and division of assets and debts are worked out.
If either spouse objects to any of the terms of the divorce, they can file a counter-petition or request a hearing. The court will then set a date for a hearing, at which time both spouses will have an opportunity to present their case. After considering all evidence, the court will make a determination regarding how to divide the property between the two spouses.
The division of assets in a California divorce is typically decided by the court, although the parties can also reach their own agreement and present this division of assets and debts to the court to approve in the judgement of divorce. Courts look at any property and debts that were acquired during the marriage and in the case of certain assets, they may consider how each spouse contributed to the asset.
Whether you are considering divorce or have already filed for divorce, we can help. Contact the Law Offices of Bradley Bayan at (650) 364-3600 to schedule a free consultation.