San Bernardino Property Division Attorney
When you are in a marriage or a domestic partnership, your lives and your finances intertwine. Ending that emotional relationship means ending your financial ties as well, and this can be a complex and challenging process. To protect your rights and secure your financial future, you need an experienced San Bernardino property division attorney on your side.
The knowledgeable and dedicated family law attorneys at Milligan, Beswick, Levine & Knox LLP have decades of experience representing clients who are faced with the difficult task of dividing shared marital property. Let us negotiate on your behalf, protect your legal rights and help you achieve a property division that works for you.
California Laws on Property And Asset Division
The most important thing to be aware of when dividing property and assets is that California is a community property state. This means all marital assets and marital debts are considered to belong to both parties and will be divided equally in divorce or separation. Anything acquired during the marriage, in other words, is split 50-50.
Property owned prior to the marriage, however, belongs to the person who owned it. There may also be other limited exceptions to community property rules such as property acquired through gift or inheritance during the marriage. Your San Bernardino property division attorney can explain these exceptions to community property rules.
How is Property Divided in California?
When you end your marriage or partnership, the court can apply the community property rules to determine who gets what assets and debts. You can also negotiate a divorce or separation agreement in which you determine your own division of property with your spouse or partner.
Often, negotiating your own agreement saves time, stress and money. Our San Bernardino property division attorneys can explore this option with you and, if desired, can work to negotiate a fair agreement on your behalf that will put you in a secure financial situation after your divorce.
If no agreement can be reached, then the division of property can be litigated and a judge can decide the issues for you. We are prepared to advocate in court on your behalf to ensure that these legal proceedings are resolved in the best way possible.
Complex Issues in Property Negotiation
While it may sound easy to just divide property 50-50, the fact is that there are many complex issues that can be raised when dividing property. Some of the difficult challenges that our San Bernardino property division attorneys can help you with include:
- Determining what happens to assets that you acquired before marriage, but that you “co-mingled” or mixed with marital assets
- Tracing the original ownership of property
- Determining what happens to a family business
- Determining what happens to a business you started or grew during marriage
- Business valuations
- Refinancing the mortgage into the name of the party who is keeping the house
- Division of retirement accounts and pensions, including qualified domestic relations orders (QRDOs) and cash payouts
- Identifying hidden assets that your spouse may have
These are just a few of the complex issues that may arise during the separation of your assets and debts. You need a qualified legal professional to provide you with guidance on these and other issues so you don’t walk away from your divorce with less than you deserve.
Contact Milligan, Beswick, Levine & Knox LLP
The outcome of your financial settlement during divorce and separation will play a fundamental role in shaping your financial future. You need to protect yourself and ensure that the division of assets and debts is fair.
At Milligan, Beswick, Levine & Knox LLP, we will put our legal knowledge to work to advocate for your interests. Our goal is to ensure you get the settlement you deserve as cost-effectively and quickly as possible so you can move on with your life with the money and assets you need.