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The title of this page may sound like a selfish question. But if you are going through a divorce, there are some very legitimate reasons to be focused on property division. When your assets, marital debts and property have been commingled with another person for years, separating them is no easy feat. Moreover, your financial future will be influenced by how your assets get divided during the divorce.
At the Mohajer Law Firm, APC, we help clients through all aspects of divorce, including division of assets and debts. Call 626-999-3785 to schedule a free consultation. We can help you understand what’s at stake and how to protect your long-term financial health after divorce. We will then work to get you a fair property settlement that best reflects your financial needs and goals.
While most states follow a model called “equitable distribution,” California is one of just nine “community property” states. This basically means that property and assets accrued by either spouse during the marriage belong equally to both spouses. As such, they would be divided equally in divorce.
Property can include real estate, automobiles, furniture and any other household items. Assets can include cash, bank accounts, retirement savings plans, stocks and even a business.
While community property is simple in concept, it can lead to some complicated headaches. This is because, in many marriages, there are certain assets which should be considered separate property. Thankfully, there are common exceptions to the rule of community property. These include:
- Any gifts given only to one spouse
- Any inheritances specifically left to one spouse
- Any property acquired prior to the marriage
- Any property or assets acquired by one spouse after separation (as defined by certain actions indicating the intention to divorce)
- Any property designated as separate in a prenuptial or postnuptial agreement
Because community property is the presumption, it is up to you to demonstrate that a given asset should be considered separate, and therefore, not subject to division. This can be harder than it sounds.
Attorney Sina Mohajer understands the complexities of California’s property division statutes, and will utilize this knowledge to help protect property or assets which rightfully belong to you alone.
Our firm, located in Arcadia, helps clients throughout the greater Los Angeles Area. Fill out this online contact form, or call our office at 626-999-3785 to take advantage of a free initial consultation.