How Does Division of Property Work in a California Divorce?
If you’re divorcing, a big concern can be who’ll get what assets. California is in the minority of states using the legal community property concept. This means there’s a presumption that assets should be split evenly. The evidence you provide and the arguments to support your position can make a huge difference in what assets you’re awarded and their value.
Whether you expect an amicable or difficult divorce, you must know your rights and how California law may apply to your case. Decisions you make can affect you and your children for the rest of your life, so ensure you’re fully informed and have an aggressive Coachella Valley divorce lawyer working for you. Call Castillo & Associates at 800-497-9774 and schedule a consultation with our team today.
What is Community Property?
In California, community property is, generally, everything purchased, earned, or acquired during the marriage because they’re seen as belonging to both spouses. The value of marital assets and debts is divided in half. It doesn’t matter who had a higher income, acquired more property, or incurred more debt.
Depending on your situation, you may want more or less assets and debts to be marital property because that classification can be an advantage or disadvantage. If you think something should be considered separate, not community property, the burden is on you to come up with the evidence and arguments to support that position.
The other means of dividing assets and debts in most other states involves their equitable distribution based on what a judge sees as fairness based on factors listed in state statutes. If you think you’d benefit more from that system and have enough connection to one of those states to justify court jurisdiction, filing for divorce might be possible.
Which Property is Separate? Which is Community Property?
If you prove that only you purchased, maintained, and used an asset, it may be considered separate property, not subject to division. You’ll need to provide substantial evidence to make that claim successfully.
If you combine separate and communal assets, they are considered commingled assets that are typically viewed as community property. If the asset was bought with marital funds or a mix of separate and marital funds, it would be classified as a community asset. An asset first paid for by one spouse but used by both would be community property.
How are Assets Divided?
Here are four ways:
- In-kind division: An asset like a checking account or cash that’s easily divided may be evenly split between the spouses
- Asset distribution: This involves splitting the value of assets, not necessarily the assets’ ownership. This applies to assets that aren’t easily divided, like real estate, artwork, or vehicles. A couple might own a home worth $500,000 and liquid assets worth $500,000 together. Though each spouse may, legally, be entitled to half of each, if one spouse wants to retain the home, the easiest approach may be to put that real estate in one spouse’s name while the liquid assets are transferred to the other. This is a very common approach to coming up with divorce agreements where the right to own some assets is swapped to own others
- Sell the assets and divide the proceeds: This is a good approach to assets that are quickly sold. You can sell real estate, vehicles, and furniture and then pay off debts. In these days of eBay, Facebook Marketplace, and Craigslist, you can sell anything tangible. This is a good approach if you want to start a new life over and leave the old one behind
- Tenancy in common and deferred partition: This approach isn’t as commonly used but may work in your case. The court makes you and your spouse tenants in common, so you both keep ownership of an asset until it’s sold and the proceeds are divided. This may be a good idea for an asset like a home, which may take some time to sell
Depending on your assets and the parties’ goals, you’ll probably use more than one of these techniques.
Explore Your Property Division Legal Rights and Options With the Divorce Lawyers at Castillo & Associates
If it’s time to move forward with a divorce, talk to the divorce attorneys at Castillo & Associates. We focus on protecting our clients’ needs through the divorce process. We aim to make it as easy as possible for you and your family. Contact us online or call our divorce attorneys at 800-497-9774 to schedule a consultation now.
Attorney Domingo Castillo handles workers’ compensation, personal injury, family law & immigration throughout Southern California from our 5 offices: Indio, Pomona, Riverside, San Diego & Cathedral City. We help clients file injury claims, obtain residency & citizenship, and we assist families through divorce, child custody and all family law matters.
