In many divorces, division of property is a central and acrimonious issue. For over two decades, the Fresno family law firm of Tomassian, Pimentel & Shapazian have aggressively advocated for our clients in property division disputes.

We demand full disclosure of all assets, proper identification of each asset as community or individual property, and an accurate valuation of each community asset. Sometimes the procedure is easy; more often, real estate distribution can be extraordinarily difficult and requires the help of a property division attorney who knows well the complexities that can accompany the process.

If you seek or anticipate a divorce where property division will be disputed, get the legal help you need right away.

What Is Community Property?

In California, community property state is defined as any asset acquired or earned by a married person while living with a spouse. Separate property is defined as any assets or property owned by a spouse before the marriage, during the marriage by gift or bequest, and after separation. California requires community property be divided equally unless another agreement is reached by both parties.

In California, property acquired during a marriage is generally classified as either separate or community property. Community property refers to assets and debts accumulated during the marriage, which are presumed to belong equally to both spouses.

This includes income earned by either spouse, property purchased with that income, and debts incurred jointly. When it comes to community property, California law requires that it be divided equally between the spouses upon divorce, unless they reach a different agreement.

Separate property, on the other hand, refers to assets that are owned by one spouse individually. This includes property acquired before the marriage, inheritances, and gifts given solely to one spouse during the marriage. Separate property is not subject to division in a divorce and remains with the spouse who owns it.

However, distinguishing between separate and community property can sometimes be complex, especially when assets have been commingled, such as when a couple uses community funds to enhance separate property or vice versa. Proper documentation and California property division attorneys are often necessary to clarify ownership rights.

Marital Assets and Marital Debts

Marital assets refer to the property, income, and valuables acquired during the course of a marriage. These can include real estate, retirement accounts, bank accounts, businesses, and personal property such as cars, jewelry, and furniture.

In many jurisdictions, including California, marital assets are subject to division during a divorce. The court typically divides these assets based on the principle of equity, aiming for a fair distribution rather than a strictly equal one, though this can depend on various factors such as the length of the marriage, each spouse’s financial contributions, and the needs of any children involved.

Marital debts, on the other hand, are the financial obligations incurred during the marriage. These can include credit card debts, mortgages, car loans, and personal loans. Like marital assets, marital debts are usually divided between spouses during a divorce.

The responsibility for these debts can be allocated based on various factors, including which spouse incurred the debt, the financial circumstances of each party, and whether the debt was used for joint purposes, such as household expenses. It’s important for divorcing couples to fully disclose all marital debts to ensure that the division is handled fairly and that each spouse is aware of their financial responsibilities moving forward.

We Aggressively Champion Your Rights

California law does not require “in kind” division of community property, which would mean – in practical terms – that everything would have to be sold and converted to cash. The law instead requires that the value of the assets each spouse receives must be equal.

For example, one spouse may be awarded the family residence while the other receives the family business; so long as each spouse receives assets of equivalent value, the law is satisfied. However, some assets can pose unique problems, like a business one spouse owned before the marriage but both worked at during the marriage.

No matter how complicated property division becomes, the attorneys at Tomassian, Pimentel & Shapazian will aggressively champion your right to a full and fair division of property.

Contact Our Law Firm to Speak to a Property Division Lawyer

Tomassian, Pimentel & Shapazian keeps flexible hours to meet your needs, and we return every call promptly. We serve clients in Fresno, Madera, Tulare, Kingsburg, and Hanford counties. Our staff speaks Spanish and French; don’t let a language barrier keep you from the help you need. Call Tomassian, Pimentel & Shapazian today at 559-545-0383 or contact us online to schedule a consultation with a division of property attorney.