Glendora Community Property Attorneys
Property Division - Asset Division - Debt Division - Classification - Valuation
In California (a community property state), there is a presumption that marital property and debts will be divided 50/50. However, there are many issues that arise in connection with dividing property and debts, and you should consult with a lawyer if the property or debt in question is substantial.
Call (626) 594-4487 to discuss your community property issue with an experienced divorce lawyer who is also a California Board-certified family law specialist (certified by the State Bar of California).
Issues Relating to the Distribution or Division of Assets and Debts
Most of the community property issues that arise during a divorce can be defined as classification of property issues (is it marital property?) or valuation issues (how much is it worth?). At Stettner & Morris, our Board-certified family law specialists (certified by the State Bar of California) have extensive experience with both types of issues.
Community Property Classification Issues
The first question is whether the property in question is marital property. This question becomes more clouded when an asset or property was purchased from the proceeds someone brought into the marriage, and has appreciated, changed, or been paid off with community property (money). Other classification issues include inheritances, property awarded from a prior divorce and gifts.
In short, you should consult with an experienced family law attorney if there is any question about the classification of property or debts as community property.
Community Property Valuation Issues
Once it is established that the property in question is indeed community property, there may still be an issue regarding the value of the property. This issue becomes more tricky when the value of the property is wholly or partially dependent on one of the parties, such as a professional practice or business, such as a doctor, lawyer or accountant. Other valuation issues can include:
- Self-employed individuals
- Close corporation stockholders
- Store owners
- Stockholders
- Pension plans
- Stock options
- Insurance policies
- Collectibles
To discuss your community property issue with an experienced family law attorney, please schedule a confidential consultation by calling us at (626) 594-4487 or by filling out the family law intake form on our Contact page. We can provide you with experienced, dedicated, knowledgeable advice and representation; call today.
Because your future matters, retain a California Board-certified family law specialist to represent you in your divorce or family matter.
California Asset and Debt Division Attorneys
Glendora Community Property Lawyers
Los Angeles County Marital Property Law Firm
