A Short Gide on Division of Marital Property in Riverside

The dissolution of a marriage brings with it many challenges, with one of these being the division of property. Petty squabbles over who owns what during marriage can escalate into an all-out war. Because of this, the state of California provides certain guidelines to help couples divide property in a fair manner in keeping with what each individual came with at the inception of the marriage.

California is, according to the law, a community property state. This basically means that should you get divorced from your spouse, you will walk away with your initial property and assets intact. However, the assets that you garnered over the course of your marriage may become a bone of contention. Should you be unable to come to some kind of resolution on how to take care of this, the courts will order a mediation process to get to the root of the issue.

Property Ownership a Touchy Affair

Property ownership is a touchy affair. This is why it’s usually advisable to have everything in writing beforehand. In addition, you may want to have agreements notarized by a Riverside family lawyer so everything looks good in the eyes of the law. On top of that, it’s important to note that just having your name on a title isn’t enough should your marriage end; the law requires that you have everything clearly laid out in the form of a written note that can stand legal scrutiny.

Most people aren’t aware of this, making property squabbles a big thing during separation or divorce. To avoid a long, drawn-out battle, seek the services of a qualified and experienced family lawyer that can help shield you from any adverse effects such as the loss of your property or inequitable distribution of what is rightfully yours.

Here are a couple of things that you must consider during the property division process:

Whether the property in question is separate or marital
Deciding on how to divide the property
Agreeing unanimously on the value of the property.

Under California law, property that you garnered before marriage remains yours. This includes gifts and inheritances as well as profits and proceeds on the property as well as gifts given to you. On top of that, any property that you acquire after separation but before divorce remains rightfully yours.

Here’s a short list of items that are considered as property under the law:

Cash
Land
A house
Clothing
A business
Patent
Stocks
Pension plans

Since California is a community property state, all property you may have accumulated during the time of your marriage will get divided equally amongst the two of you. This also includes any debts. The court takes into account everything leading up to your divorce which basically means that a work raise, you winning a substantial amount of money and coming into inheritance will all be taken into consideration by the law. Please contact us today for your free consultation if you’re looking to hire an experienced property division lawyer.