Asset and Debt Division
In California, property and asset division as well as debt responsibilities must be worked out and agreed upon by the divorcing parties for a marriage to be dissolved. These issues are settled in the signed Marital Settlement Agreement or a property award is ordered and decreed by the court in the Final Judgment of Dissolution of Marriage.
Our firm can provide legal counsel and representation to prospective clients in the Los Angeles area who are facing property division issues stemming from a divorce. We have assisted countless couples through to a property division resolution or other divorce agreement.
Whether it is a high-asset divorce with multiple properties and assets or merely a single family home, we have the legal knowhow, skills, and resources to help you navigate this difficult divorce area. We understand the emotional difficulty involved in such issues and can act as an objective, sensible guide as well as an advocate to ensure that your rights and interests are protected.
California Property Division Statutes
California is a community property state which means that all property and debt acquired from the date that the marriage began until the date that it is legally ended is joint or community property of both parties in the marriage. If the divorcing spouses cannot reach an agreement as to how to divide the property, it is decided by the court, generally in an equal split. This means an equal value to each party.
In some instances, the court may award an asset to one party as a way to give an equal division of the estate to that party or it may award an amount to one party that the court determines to have been purposely misappropriated by the other party. To learn how property division applies to your particular situation, it is best to consult the Los Angeles property division lawyer at our firm. He can ensure that your rights are protected and that your prenuptial agreement is enforceable.