The short answer to this question concerning marital property laws in California is yes. But, the establishment of what is or what is not community property in California can be a complicated issue. That is why it is imperative to have an experienced and aggressive divorce lawyer licensed to practice in the state who understands the dispersal of assets and liabilities in a divorce degree community property financial statement. Many divorces in a state with the wealth of individuals like California residents can be complicated and contested vigorously.
Community property listed as assets in a divorce inventory can be a major point of contention. While one party may attempt to devalue an item, the other can contest that claim through their legal counsel. The value of a home or antiques is an excellent example of these discrepancies. An aggressive and experienced attorney will implement the use of forensic accountants to set a reasonable value on all assets that a couple may be making a decision on concerning value and division of property.
Accumulation of assets is not the only property division that applies to a divorce decree. Liabilities are also of ultimate importance for those attempting to maintain an acceptable credit rating or asset level. Of course, liabilities are debts or ongoing financial responsibilities such as child support after the divorce is finalized. Temporary disposition of property can also be calculated into the final decree, and accurate assessment of the values of those divisions or property occupations can also be a component of the total amount. A feasible decree will include a fair amount of each.
Alimony is probably the most contended issue of a divorce in California, especially when one party of the marriage earns a considerable amount of income beyond the lesser family income contributor. Contribution to the family is a serious claim in the state of California, and this is normally satisfied in a divorce in the form of alimony or additional property division. In addition, this can be a very complex issue when determining the amount of recompense when one of the parties to the divorce has been a stay-at-home parent or accustomed to an elevated standard of living during the marriage.
Contact Ann Thompson, a Seal Beach Property Division Attorney when filing for a dissolution of marriage within the state. She will provide a free consultation and will guide you through the process of coming to a fair and equitable settlement.