Property Division Attorneys in Folsom
What is Considered Community & Marital Property in California?
California is unique in the fact that it is one of nine community property states in the country. "Community property" refers to any assets or debts that a married couple acquires during their union. Since it was acquired while the spouses were together, it is equally their property. Anything from wages earned to real property (family home or family vacation home) is community property if it has been acquired during marriage. The same rules apply to debt. Typically, this property receives equal distribution to each partner. However, not every couple can reach a decision on their own.
Sometimes, property and debt division can be simple; most of the time, however, it is a complicated process that requires the help of an experienced attorney. Our property division lawyers in Folsom can represent you through the process, fighting to protect your rights and interests. We can ensure that negotiations are fair and that the final resolution is favorable.
Discuss your property division case with us during a consultation. Call (916) 794-4576 to schedule yours.
How is Property Divided During a Divorce?
Determine if the Property is Community or Separate
Community property refers to the shared assets between spouses. However, if there are assets from outside of the marriage, it is known as separate property. Separate property typically is not included in the division of property during divorce, since it is solely owned by one spouse. It is usually acquired by way of gifts, inheritances and/or property acquired before the marriage and/or after the date of separation. While this may seem like a simple process, deciding if the property is community or separate can be long and difficult.
A Third Category: Mixed Property or Commingled Assets
There is also a third category known as mixed property, which is property that has both components of separate and community property. This may be a car that one spouse bought prior to marriage but then made car payments on with earnings during the marriage. Another example is if one spouse received an inheritance – which is presumptively separate property – but subsequently put their inheritance monies into a joint checking account during the marriage. If this occurs, then it becomes commingled. Sometimes, unwinding mixed property is easy, but it can also be complex and require tracing. Tracing usually occurs when assets have comingled.
Calculate the Value of the Property
After deciding if the property is community or separate, you have to assign a monetary value to each asset. Often it is difficult for the spouses to agree on the value of each item. In this case, financial professionals and advisors are great assistance in the determination process. If you and your spouse can easily communicate, you can split the money yourselves. However, the courts can also step in.
Division of Property
When dividing physical items and assets, certain items are typically delegated to each spouse. If one person wishes to buy out another person’s portion of an asset, they can also choose to do so. Technically, property division does not have to necessarily occur during separation. A couple can also choose to keep the property under both names after the divorce. Debts usually end up with one spouse or the other; however, they can also receive similar division amongst the couple.
Characterization of Property
Property characterization is important in California since it is a community property state wherein all assets and debts are equally split unless otherwise agreed.
Consult with an experienced family lawyer to:
- Ensure your separate property is not wrongly characterized and subject to equal division
- Ensure you receive your one-half community equity in any community asset
- Ensure you are not failing to apportion and/or trace property
Contention in Property Division
Most often, parties disagree on how particular property should be characterized, vaulted, dispose, or divided. Both spouses must cooperate to work out property and debt division – it is faster, wiser, and cheaper.
All property should be divided equally so that each spouse receives roughly the same value of the property. Spouses are not required to sell everything and divide the funds – though if parties cannot reach a decision, the Court may order it to be done. Making compromises is critical. If one spouse wishes to keep more liquid funds (checking accounts, stock accounts, etc.) that can be balanced by assigning community debt to that spouse as well. Remember, both spouses must be looking to come up with equal “net” share, or the value of the assigned property after subtracting out the assigned.
Another important factor to keep in mind is that once the property is divided and the debt is assigned to one spouse or the other, you must make the marital settlement agreement a part of the Court’s judgment. That way, it can be enforced just like any other money judgment.
Get started on your case by calling (916) 794-4576. We serve Folsom, Northern California, and the surrounding counties.
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“I highly recommend Tiffany Andrews for your family law needs!”
Tiffany L Andrews has represented me with professionalism and care. She thoroughly explained the legal processes to me and assisted me through the intricacies of my divorce. She also assisted and allowed me to participate in all of the decisions that were made in my case. She interacted with opposing counsel with professionalism and courtesy while maintaining a firm stance as to the interests of my case. I am very impressed with her abilities and the manner in which she conducted herself while handling my case. Her staff is also very competent and accommodating to my personal needs. I am very satisfied with results thus far, and I am confident that I have made the right decision when I hired Tiffany L Andrews as my attorney.- David -
“Divorce & Separation Advice Session”
She was great, put my mind at ease. I had a few short questions, not enough to warrant a face-to-face with a lawyer at a high price and she took care of them. Precise, knowledgable and friendly too.- Previous Client -
“Professional and Highly Commendable Family Lawyer!”
Ms. Andrews is a highly trained, professional, experienced, ethical, and commendable attorney. She has gone above and beyond in her education and specific focus of family law and it is clear in our interactions that she follows her business motto of "If you care, we care!" Ms. Andrews' staff are courteous and helpful as well. My case is complicated with child custody, small business ownership, and other factors. Ms. Andrews' has been communicative, clear, and concise in my options and implications of my choices. She gives me sound, logical legal advice that is the best for my situation. She truly has her clients' best interests in mind and she is confident in court as well as in negotiation with the opposing counsel. Ms. Andrews' follows through with what she says she will do and also will make sure future plans and what needs to be done are clearly laid out to the opposing counsel. I could not be more pleased with my attorney and highly recommend her without hesitation.- Tracy -
“Child Custody Case”
- AlanTiffany was asked to represent me in court as my primary attorney was called to attend another court case.
Tiffany acted in a very professional manner, was very supportive, Tiffany made sure that she has a good understanding of my case prior to attending court. Whilst we waited for the court to open Tiffany was very attentive to me, asking me if I had any questions, trying to relax me even though this is a highly confrontational custody case. During the wait time, Tiffany noticed that the other attorney was acting inappropriately and immediately challenged his position, to which he apologized.
Once in court Tiffany took the lead putting forward our case, she did this in a well-structured way. Each point had solid reasoning and when the apposing council tried to interrupt Tiffany politely asked him to wait until she had completed his argument. Tiffany mentioned to the judge the incident in the waiting area and the Judge was very clear that this behavior was unacceptable. The judge listed intently to Tiffany points and contentions, the facts were very clear and he was able to make the required decisions based on her submission without further clarification on my custody request.
Despite the fact Tiffany was covering for another attorney, I could not have asked for better support. She is an outstanding attorney, very knowledgeable on custody cases and the rules relating to custody. I would have not had a second thought engaging Tiffany as my primary attorney or making a recommendation to anybody who needs an excellent divorce/custody lawyer.
Thank you for your support - you were outstanding -
“Superior Customer Service”
- JetI was very lucky to have found Atty Andrews online because she addressed all of my questions and concerns over the phone for 30 mins without coming across as someone who is only interested in me as a client for money. She went above and beyond the phone consultation and normally there's a $150 consultation fee that she waived.
She was very helpful and honest and I felt that she genuinely had my best interest in mind and not her business for profit. She even recommended for me hire an attorney in Texas vs California because it is the most beneficial for my family and the one that makes sense the most. I would have loved to hire Atty Andrews to represent our family, but we will listen to all of her advice and recommendations. Thank you, Atty Andrews!!!
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“Very Attentive Attorney”
Once Tiffany took on my case, she was on top of every detail. She was always responsive to my questions and got back to me in a timely manner. She was well informed about opposing counsel and helped lead me in very strategic conversations to resolve the matter quickly and to my advantage.- Mary -
“Hard Working”
Ms. Andrews did a lot of research on issues she was not clear so that she would be able to provide accurate information and advice. She worked diligently on my case, while my ex's attorney was playing "legal games" - by sending letters with false claims to rack up his fees - while pretending to work on the case. Unfortunately my divorce was very complicated; however, in the end, Ms. Andrews managed to win over my ex - so he fired his attorney and we had Mr. Andrews finish the final paperwork for the both of us. In the end, Ms. Andrews saved both me and my ex, additional grief, frustration and money.- Previous Client -
“Amazing Experience!”
Tiffany helped me through a very difficult custody battle, and she was very helpful and informative. She answered all of my questions and made me feel very comfortable. Tiffany truly knows what she is talking about... I would highly recommend her to anyone trying to get through a difficult custody battle, or anything else!- Previous Client
