When a couple decides to divorce, the legal process involves more than just ending their marriage contract. If they have children together, they must also determine custody and child support for their children and divide their marital property. Property division is often one of the most contentious issues in a divorce, especially between high-net-worth couples. So, if you are preparing to end your marriage in Newport Beach, it’s vital to know what to expect from the property division process so you can begin preparing for the next phase of your life.
Newport Beach Community Property Lawyers
Under state law, your property and assets may fall under four different categories. Understanding these categories and how they affect your division of property can help you understand what to expect. The property categories are:
- Community: Property acquired during your marriage.
- Quasi-community: Property acquired and held outside of California.
- Separate: Property established as belonging to one person.
- Commingled: A combination of community and separate property.
When preparing for divorce, it is important to gain an accurate value of your property. We can use forensic accountants to evaluate all of your property to determine which assets or property belong in each category. This helps provide a clearer picture of the value and division possibilities.
Legal Representation for Newport Beach Property Division Determinations
Property division in divorce can quickly generate heated disputes, and intransigent spouses can potentially extend divorce proceedings significantly, resulting in more significant legal costs and more time investment for all parties involved. Working with a Newport Beach property division attorney is the best way to prevent this from happening and can enable you to approach your property division proceedings with greater understanding and clarity.
Why Should I Hire a Newport Beach Property Division Attorney?
The attorneys at the Law Offices of Dorie A. Rogers offer years of extensive experience in California family law to individuals preparing for divorce in Newport Beach. While some people assume they can handle their divorce cases without legal counsel, the reality is that these cases often involve more complex financial issues than many people realize. Therefore, attempting to handle your case without an attorney is not advisable, and the results could be far removed from your original expectations when you do not have a Newport Beach property division lawyer on your side.
Consider your attorney an investment into your future. An experienced Newport Beach property division attorney will be able to identify the critical areas of concern most likely to come into play in your divorce and help you make more informed decisions about the process. In addition, you can rely on your legal team to assist you with your financial disclosure for reliable advice concerning the most complex aspects of your case and ongoing support during an emotionally stressful legal battle.
Understanding California Community Property Law
California is one of few US states that upholds a community property law in divorce. This law means that all marital property is divided completely evenly in divorce, regardless of the reason behind the divorce. Some people believe the community property law to be overly broad or unfair. The reality is that if you are ending your marriage in California, property division must unfold under this community property law.
The community property law requires both spouses to submit a financial disclosure statement. They must carefully record all of their property, assets, and debts. They must also characterize these holdings as marital or separate property. Marital property is subject to division, while separate property remains the spouse’s property claiming it. Separate property typically includes property owned before the marriage, gifts, and inheritance from blood relatives.
What to Expect From Your Attorney
Hiring an experienced Newport Beach property division attorney will make it much easier for you to navigate your property division proceedings. It will increase the chances of securing an agreeable outcome. Your attorney can help you gather the documentation you must submit with your financial disclosure statement, ensuring all relevant records are given appropriate consideration throughout your divorce case. If you believe your spouse has hidden assets, or if you have complex financial questions you cannot address on your own, your attorney can coordinate expert witness testimony to support your case.
A Newport Beach property division attorney can also potentially help you streamline your divorce in various ways. For example, they may help you take advantage of alternative dispute resolution that allows you and your spouse to negotiate property division privately and reach more personalized results. Ultimately, you will have a much easier time managing the various aspects of your divorce case with an experienced Newport Beach property division lawyer on your side.
It’s natural to have many questions about property division and concerns about the process as you prepare for your divorce in Newport Beach. The attorneys at the Law Offices of Dorie A. Rogers have assisted many clients in the Newport Beach, CA, area with complex divorce cases. The following are some of the most frequently asked questions from prospective clients regarding property division.
Q: Can Separate Property Be Divided in Divorce?
A: Typically, a spouse can keep their separate property in divorce, but some separate property can be subject to division. The transmutation of property from separate property to marital property could come into play if one spouse’s efforts and contributions altered the value of the other spouse’s separate property in any significant way. For example, if you owned a home worth $300,000 before marrying your spouse but they contributed to renovations that increased the property value to $500,000, a judge may consider this a significant enough appreciation in value to consider the home marital property.
Q: How Do You Divide Real Property?
A: There are typically two options for dividing real property in a divorce: liquidation or a buyout. The spouses may agree to sell the house and divide the liquidated proceeds, or one spouse may trade other marital property to the other to effectively buyout their share of the real property.
Q: What Do I Do If I Discover My Spouse Had Hidden Assets?
A: Lying in financial disclosure is a severe offense likely to result in contempt of court. If you believe your spouse has lied in their financial disclosure or if you discover they have hidden assets after completing property division proceedings, notify your Newport Beach property division lawyer as soon as possible. Anyone who engages in this activity could face criminal penalties for fraud or perjury, and they will likely owe civil damages to the other spouse.
Ultimately, property division unfolds differently in every divorce case. You likely have many other questions specific to your divorce, and a Newport Beach property division attorney is the best available resource for securing the answers you need during this difficult time.
If you are preparing to end your marriage in Newport Beach, the Law Offices of Dorie A. Rogers can provide the legal counsel you need to approach this case with confidence. Contact us today and schedule your consultation with an experienced Newport Beach property division attorney.
“Dorie is a very powerful attorney and a great asset to have on your side in any family legal matter. She is extremely bright and insightful, and I got everything I asked for in my lawsuit.”
“I would strongly recommend Ms. Dorie Rogers for any legal needs. During my Divorce proceedings, Dorie’s professionalism, expertise in Divorce Law and legal skill helped bring my case to a close in both a timely and mutually agreeable manner.
Additionally, Dorie took the time to understand me and my background to better represent me in my case. She showed a level of caring and concern that helped me through a very difficult time. She is an outstanding lawyer and wonderful person.”
“Second to none – I wouldn’t hesitate to recommend Dorie to anyone. She was my attorney for my divorce and custody case. She will do everything it takes to get the job done and all with a smile on her face. Her knowledge and expertise will assist anyone in a family law situation get the results they want.”
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