Property Division Lawyers and Family Law Attorneys in Los Angeles, California

THE LAW OFFICES OF CATHLEEN E. NORTON

Property division in Los Angeles

In nine states of America, including California, all property of a married person is classified as either community property (owned equally by both spouses) or the separate property of one spouse.

Community property is defined by California Family Code section 760. In community property states, there is an absolute 50-50 split of all property acquired during the “marital enterprise” which means community property is generally divided equally between the spouses, while each spouse keeps his or her separate property at divorce. Community property is divided right down the middle in a Los Angeles divorce, but some things such as houses, cars are not capable of an even split. Therefore, division of property does not necessarily mean a physical division. Rather, Los Angeles family law court may award each spouse a percentage of the total value of the property. The property is also anything that has value, like bank accounts and cash, security deposits on apartments, pension plans, 401(k) plans, stocks, life insurance that has cash value. In most divorce cases, market value of your community property determines how it will be divided. Both spouses are entitled to half the market value of the entire community estate. It should be noted that debts are not necessarily divided the same way as property. In Los Angeles, California, the debts are not necessarily divided 50/50. Debts are divided “equitably” while the property is divided equally. In contrast with community property is separate property which means everything a married person own separately includes all of the following:

• Anything owned prior to marriage
• Anything inherited or received as a gift during the marriage
• Anything either spouse earned after the date of separation

Separate property does not need to be divided between the spouses. To determine the full extent of separate versus community property when the property in question is commingled, direct or indirect tracing can be used to help analyze the characterization and interest in the property. There is another type of property that is called “Quasi-Community property”. Quasi-Community property refers to property owned or acquired in another state prior to your move to California. Under California law, this property is treated much like community property, even if it cannot be fully classified as such.

Property division can be a source of anxiety for many spouses going through a divorce in Los Angeles, California. If you’re uncertain whether or not your assets are community property or separate property, you need to consult a qualified family law attorney at the Law Offices of Cathleen E. Norton. We can advise you on the steps you need to take and the documentation we will need to help you protect your interests during the difficult divorce process. Contact Los Angeles Property Division Lawyers and Family Law Attorneys (310) 300-4021.