Lake Elsinore Property Division Lawyer

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Lake Elsinore Property Division Lawyer

Property Division

Lake Elsinore Property Division Attorney

Divorce can be extremely difficult, time-consuming, expensive, and emotionally exhausting. However, when a couple decides to pursue one, it is with the hope that a better future is ahead. While no Lake Elsinore, CA couple sets out on their journey together with a divorce in mind, many couples today find themselves facing this reality. When this happens, there are many elements of the marriage that need to be settled prior to its final legal end. Marital decisions such as child custody, child support, asset division, and property division are the main issues that need to be resolved. While divorce is difficult, it doesn’t have to be a process that causes you undue stress or anxiety.

Najera Law Group, P.C.: Your Lake Elsinore Property Division Attorney

With the help of a family law attorney from Najera Law Group, P.C., you can receive the support and help you need to resolve the terms of your property division during your divorce. Our team has the experience and skill to help our clients in all types of divorce cases. That allows them to focus on their needs while we focus on the circumstances in front of them. Our family lawyer fights aggressively to protect your rights and to push for you to receive all that you may be entitled to.

Community Property in California

In California, anything that has value and can be bought or sold is considered property. Types of property can range from vehicles to real estate, cash to retirement plans, and much more. Regardless of who receives the property or purchases it, both spouses are entitled to a share of it. This is because California looks at purchases in a marriage as being the result of the combined efforts of both spouses. This means that the courts will push for an equitable distribution of property.

Whenever there is a question about who may be entitled to certain property, the law dictates that each spouse has a right to any property that was accumulated during the marriage.

While some couples may come to an agreement with each other about how to divide their property, a court will still need to approve the agreement to be sure that it is equitable in distribution. Until property and debt are settled equitably, most courts will not approve a divorce, no matter what agreement the parties may have made with one another.

Property Division

While California seeks to provide an equitable distribution of property, equity does not mean equality. This means that neither party may receive a 50/50 split of the property that they accumulated together throughout the marriage. The court will seek a fair division of the couple’s property. Types of property that are considered include:

  • Asset Distribution: The court looks at all real assets that are available, including any debts the couple may owe. It does not look to individualize such assets or debts and assumes that both spouses are entitled to all assets collected during the marriage.
  • Individual Contributions: Some individual contributions could factor into the final division of assets. While all property obtained during a marriage is community property, the court may grant more to one spouse than another.
  • Length of Marriage: Generally speaking, most courts will seek a more equal distribution if the marriage is shorter. Longer marriages may require more work to settle the division of assets.
  • Child Support and Custody: Whenever children are involved, there are further complications in divorce settlements, including asset division. If one spouse is considered the primary caregiver, they may receive more in the final settlement.
  • Spousal Support: Spousal support, like child support, may result in an uneven distribution of assets. If one spouse needs greater ongoing financial assistance, this could be done through asset divisions.

Marital Property in California

Property in a marriage is split into community or marital property, both of which will be divided equitably in a divorce. Any property a spouse owned prior to a divorce is considered personal property and is not used when calculating the division of property. Property is considered to include, among other things:

  • Bank accounts
  • Furniture
  • Cash
  • Retirement accounts
  • Mortgages
  • Credit card loans
  • Personal loans

FAQs About Lake Elsinore, CA Property Division Lawyer

What Is the California State Law for Division of Property?

California uses a community property definition, meaning that any property that is obtained during the marriage is considered to belong to both spouses. In California, the division of such property is sought to be equitable in a court where both parties receive a fair division of all assets and debts.

How Are Marital Assets Divided in California?

Each spouse in a divorce is entitled to 50% of the assets and debts the couple has accumulated throughout the marriage. While this may mean each spouse will receive 50% of the assets, this is not the standard. The actual outcome is based on many circumstances, with each divorce case being different.

Is Everything Split 50/50 in a Divorce in California?

California seeks an equitable distribution of property, including vehicles, real estate, financial accounts, and debts. However, the split is not always 50/50, and the final decision could be impacted by such details as child support, alimony, and other considerations. An attorney can help you better understand what percentage of property your case may entitle you to.

What Is the 5-Year Rule for Divorce in California?

If a couple has been married for less than five years, and is seeking a divorce, they may qualify for a summary dissolution. In addition to being married for less than five years, they must also not share any children with one another, nor can they own any land or buildings. This type of divorce is often the quickest and most cost-effective form of divorce in California.

Lake Elsinore Property Division Attorney

If you are facing a divorce in California, and have questions about how your divorce may impact your entitlement to community or marital property you and your spouse have accumulated, contact the family law attorney at Najera Law Group, P.C. With years of experience, our team fights aggressively for you to help you receive all that you may be entitled to. Divorces can be complicated, but with our help, they don’t have to be. Contact our offices today.