San Diego Property & Asset Division Lawyers

Dividing Assets, Debts & Properties During Divorce

Once you and your spouse have decided to dissolve your marriage, both of you will need to reach an agreement on how to divide marital property. This is often a difficult and complex issue that can create hostility between parties, especially in high-net-worth divorce cases. At Gordon D. Cruse, APLC, we can protect your financial interests and help you accurately value and divide property in a fair and balanced manner.

The property will need to be assessed and evaluated before equitable distribution can be established. Our knowledgeable San Diego property division attorney can assist you with any of your related family law issues and ensure your goals are kept in mind at all times.

We can help couples:

• Identify which assets are separate or marital
• Assess the value of marital property
• Equitably divide assets and properties
• Understand tax implications of transferring assets

Even if you are expecting an uncontested divorce, it is vital that you have experienced legal counsel on your side to guide and represent you. You want to make sure that you emerge from your divorce with financial security and peace of mind.

Let our San Diego property division lawyers help you navigate the complexities of your case. Call (619) 431-4523 or fill out our online contact form to schedule your free consultation now!

Community Property Laws in California

California follows community property laws when dividing assets and debts in divorce. Anything that was purchased with marital funds or accumulated during the marriage is subject to division - the family home, retirement contributions, pensions, and even family businesses.

Whatever you owned prior to the marriage or property that was inherited or received as a gift by one spouse during the marriage will generally be yours to keep. On the other hand, community property will be divided in an "equitable" manner, which means a fair division rather than an equal split.

Factors that influence how marital property is divided include:

• Financial resources of each party
• All liabilities of each spouse
• Any tax issues
• The length of your marriage
• The family home
• Financial and non-financial contributions of each party to the marriage
• Future needs of each spouse

The Process of Property Division

California courts aim to ensure that property is divided fairly and equitably, though it doesn’t necessarily have to be divided equally.

The process of property division typically involves the following steps:

• Identification of Assets and Debts: The first step in property division is identifying all assets and debts that need to be divided. This includes real property, personal property, financial accounts, debts, and retirement accounts. It is essential to accurately assess the value of each asset and liability to ensure an equitable division.
• Valuation of Property: In order to divide property fairly, it must first be valued. The valuation process can be complex, especially for certain types of property, such as real estate, businesses, or retirement accounts. It may be necessary to bring in experts to appraise the value of certain assets, which can involve real estate agents, accountants, or business valuation specialists. Working with San Diego property division attorneys can help ensure that the valuation process is carried out accurately and that all assets are properly considered.
• Negotiation or Litigation: In many cases, couples are able to negotiate a property division agreement outside of court. This is often the most cost-effective and efficient way to resolve property division. However, when couples cannot agree on how to divide their assets and debts, the matter may need to be resolved in court. A San Diego property division attorney can help you navigate both negotiations and litigation, working to achieve a fair settlement.
• Finalizing the Property Division: Once all assets and debts have been identified, valued, and divided, the final step is to execute the necessary legal paperwork to transfer ownership. This may involve updating titles, transferring deeds, and changing account ownership. A San Diego property division lawyer will guide you through this process, ensuring that all legal requirements are met.

The Role of a Prenuptial or Postnuptial Agreement in Property Division

A prenuptial or postnuptial agreement can dictate how property will be divided in the event of a divorce. If a valid agreement exists, the terms outlined in the agreement may override the community property laws, depending on its provisions. These agreements can address both community and separate property and provide clarity for the division process.

Protecting Your Financial Interests Throughout Your Divorce

Are you seeking guidance from a dedicated San Diego divorce attorney? At Gordon D. Cruse, APLC, we have 35+​ years of experience handling divorce cases and property division. The division of property is so commonly contested when one or both parties have worked hard for their assets. When you and your spouse find that you cannot agree on who should get what, it is best to bring legal representation in.

Do you have questions or concerns about the property division in your upcoming divorce? Reach out to a San Diego property division attorney from our firm today at (619) 431-4523 to schedule an appointment for a case evaluation or contact us online.