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.
-
“Guardianship”
Ms. Andrews,- Janet
Has guided and helped me thru a very difficult guardianship. I can't express how much I appreciated her expertise as my attorney. Thank you, Ms. Tiffany Andrews. -
“Kindness and Generosity”
I can not thank me Andrews and her team enough for the kindness and generosity they showed me throughout one of the most difficult things I’ve had to deal with in my life. My head was spinning after months of googling and weighing my options while searching for a lawyer to handle my case. I imagine like most in the working class you may be afraid that you will make the mistake and hire the wrong lawyer. Wasting all your funds and end up no better off than you were. This was not the case with Tiffany and her team. I made the stupid mistake of going to the first part of my divorce custody case of going at it alone my case was very clear and I trusted the justice system to do what was right. This was not the scenario I faced. The opposition lawyer was able to manipulate everything and knew loopholes that the average person wouldn’t even believe was something that could happen in a court room. I can not stress enough it does not matter what is right and what is wrong you need a lawyer to protect yourself. As far as I’m concerned Tiffany and her team are mericle workers. I went into this thinking “oh great I’m going to be manipulated out of more and more money and I’m going to end up where I started anyway” following Tiffany’s advice I ended up being able to protect myself. From the moment I retained ms Andrews she was there for me literally day and night. I had many questions and issues throughout my case and though I don’t suggest anyone bothering her after business hours there were a few times I felt I needed to contact her and received a response very shortly after. These responses were often reassuring that she had things under control. This is a huge factor for me. Also she was very knowledgeable and always represented herself and myself in good light. I did not want to be vicious and aggressive and she managed to be assertive without being over the top. She was very respectful and I never had the feeling hat things were over my head. She always took the time to explained things to me in a way that I could understand and make well informed decisions. I would and will recommend me Andrews and her team to anyone looking for the best.- Brian -
“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 -
“Tiffany Gave Me a Voice!”
I hired Tiffany to help me in a custody dispute with my ex regarding my young son. During the entirety of my previous relationship and even after separation my ex had intimidated me and dominated any decision made regarding my son. He bullied me and used his financial advantage to make me feel that I didn't stand a chance against him when he filed to take majority custody of our son. I went into the custody dispute feeling weak but as a mother, I would go to any length, at any cost to fight for my son. Tiffany and her staff gave me so much confidence and ensured me that they would be my voice and help me fight for my rights as a mother and that is exactly what she did. Tiffany was extremely thorough, knowledgeable, compassionate, and honest. She did her job and she did it well. Tiffany was very aggressive while staying very professional in front of the judge. I walked out of the courtroom feeling empowered and protected. My family cannot ever thank her and her staff enough. I would recommend her to anyone that finds themselves in a family dispute. She will give you the justice you and your family deserve.- Cheyenne -
“Tiffany was there for me, even AFTER my case was filed.”
Long Story short, My particular case started off as a Divorce & Child Custody case; but soon after Divorce papers were filed; I (a male) became a Victim of a brutal Domestic Violence from my Ex. Tiffany took care of all the necessary documents needed to finalize my Divorce & Child Custody case while I was hospitalized with multiple stab wounds & internal injuries. Tiffany helped & filed documents so that my children wouldn't be taken as wards of the state; & gave temporary custody to a familial relative while I recovered from my injuries. Not once did she leave my side as an attorney while I was in the hospital recovering from what my Ex-wife did... If I could recommend a Family Attorney to anyone in Northern California... I would recommend Tiffany Andrews; there is no doubt about this in my mind.- Arnell -
“Tiffany Will Fight for You”
If you are looking for a law firm to represent you and your family/children in dependency court you need to hire the law firm of Tiffany L Andrews! Tiffany is a warrior in the courtroom. She fights for her clients like she would her own family. She's an expert in the child welfare law. Tiffany is a skilled professional and well respected in the "system". She is passionate about her work and maybe most important she uses her knowledge and skill in the courtroom.- Previous Client -
“Amazing and Professional”
I can not express in enough words how much Ms. Tiffany Andrews has helped me with my case. Since the beginning, she has been very detailed, quick to respond, professional and knowledgeable. Throughout the process, I always felt comfortable and at ease knowing she was handling every aspect of my case. She truly cares about her clients! Thank you very much for all that you have done for me and the services you continue to provide!- Amanda -
“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
