One of the most complex aspects of divorce involves dividing marital property. Understanding California’s property division laws can help ease the process and ensure a fair outcome. The good news is that Kendall Gkikas & Mitchell, LLP, your experienced divorce attorney in La Verne CA, is here to guide you through the nuances of property division in California divorces. Keep reading to learn more!
Understanding Community Property
California is a community property state, which means that all assets and debts acquired during the marriage are considered equally owned by both spouses. This includes income, real estate, vehicles, retirement accounts, and even debts. The goal is to divide these assets and liabilities as equally as possible. Property division also involves dividing debts and liabilities. Just like assets, debts incurred during the marriage are considered community property and must be divided equally. This includes mortgages, credit card debts, and loans. As your dedicated divorce attorney in La Verne CA, we will help you identify and classify all marital assets, so you know you are getting a fair breakdown.
Distinguishing Between Community and Separate Property
One of the key challenges in property division is distinguishing between community and separate property. Separate property includes assets owned by either spouse before the marriage, inheritances, and gifts received by one spouse. However, if separate property has been commingled with community property, it can become challenging to distinguish between the two. At Kendall Gkikas & Mitchell, LLP, we have extensive experience in tracing and distinguishing assets and can help protect your rights.
Valuing Marital Assets
Accurately valuing marital assets is also important for a fair division. This involves appraising real estate, valuing businesses, and assessing the worth of retirement accounts and investments. As your trusted divorce attorney in La Verne CA, we ensure that all assets are valued accurately to achieve a fair distribution.
Negotiating Property Division
Negotiation is often the best way to resolve property division issues. Through negotiation, both parties can discuss their priorities and reach an agreement that is acceptable to both. This process can be less adversarial and more efficient than going to court. Kendall Gkikas & Mitchell, LLP is skilled in negotiation and can help facilitate discussions to reach a mutually beneficial agreement.
Contact Kendall Gkikas & Mitchell, LLP for Expert Legal Guidance from a Divorce Attorney in La Verne CA
Navigating property division in a divorce can be overwhelming, but you don’t have to do it alone. Kendall Gkikas & Mitchell, LLP is an experienced divorce attorney in La Verne CA with more than 31 years of experience. We are here to provide the support and expertise you need. Whether you’re dealing with straightforward asset division or complex financial issues, we are committed to achieving a fair and equitable outcome for you. Give us a call at 909-482-1422 to schedule a consultation and take the first step towards securing your financial future post-divorce.
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