Are you dissolving your marriage and want to know how to divide assets in a divorce?

When involved in a divorce case, you’re going to need to split up your property and assets, regardless of whether you have a lot or little. In this video, Sina Mohajer discusses the process of splitting those property and assets in the divorce case and what items are considered as assets in a divorce case.

If you have any questions or would like to speak with a skilled attorney about family law, contact Mohajer Law Firm today at (626)569-5200.

Transcript:
When involved in a divorce case, you’re going to need to split up your property and assets, regardless if you have a lot or a little. Now, in this video, I want to discuss the process in splitting those property into assets in a divorce case.

But specifically, I want to address the questions as far as what items are considered as assets in a divorce case. What constitutes as community property and separate property assets? And whether you can even get divorced without splitting up any assets.

Hi, I’m Sina Mahaja. I’m a family law attorney practicing in the Greater Los Angeles County since 2012. I’ve been a contributing member of the Los Angeles County Bar Association and I’ve been rated by Super Lawyers since 2019.

Assets in a Divorce Case

When you’re looking at items that are considered as assets in a divorce, you want to remember the general rule of thumb: anything acquired from the date of marriage to the date of separation certainly must be included in your judgment. And they need to be divided, as far as who’s going to take what and so forth.

But to be safe, you should also include any property or assets that you acquired prior to marriage and even post-separation. The more clarity or specificity you add to your judgment is going to make it a lot cleaner divorce and it won’t leave any uncertainty or any vagueness as far as who’s going to take what assets.

Now, some assets to consider to divide are, for example, going to be real property, real estate. If you have any, they need to be divided.

If you guys own a business, that needs to be divided as well. Other items, for example, personal items, vehicles, cars, jewelry, stocks, bonds, pensions, retirements, anything that can be tangible or has any type of value are going to be considered as assets in a divorce case.

Community Property vs Separate Property

Now, the difference between community property and separate property, it depends on that general rule of thumb I just mentioned. Anything you acquire from the date of marriage to the data separation is going to be automatically presumed as community property. That doesn’t mean you can’t overcome that presumption.

And anything acquired prior to the date of marriage or post separation is going to be considered as your separate property.

Overcoming the Presumption of Community Property

Now, to overcome that presumption of community asset or community property during the duration of your marriage, it depends on how you acquire that asset. If you were to receive it as an inheritance or a gift, that will overcome that presumption. It would be considered as your separate property asset.

And at time a divorce, you’re only splitting up the community property. So that means, the law states, any community assets that are considered to belong to the community, you divide those equally 50/50, but all your separate property assets, those belong to you and they should not be touched.

Can You Get Divorced Without Splitting Up Assets?

Now, the last question is can you even get divorced without splitting up any of your assets? The short answer is yes and no. You can’t get a final judgment on all issues without splitting up your assets because that is one of the issues that need to be resolved in your divorce case.

Now, when I said, yes, you can get divorced, you can do what’s called a bifurcation of status, meaning you can request a court to dissolve your marriage and give you the status of being a single woman or a single man. And then deal with the property issues at a later time. But your case wouldn’t be complete.

Help With Dividing Your Assets in a Divorce

Now, if you’ve got questions about your divorce case or you’d like to speak with a seasoned family law attorney, we offer a free initial consultation. Feel free to reach us online or contact us over the phone. I’ll be happy to sit with you one-on-one.