California’s Community Property Law in Divorce
By The Hunter Law Group
May. 20, 2013 2:20p
In the U.S., there are two different legal ways to divide marital property in a divorce. One is the equitable distribution method and the other is called community property. Nine states use the community property theory, including California. This theory is based on the idea that any marriage is a partnership between the two parties in which they each contribute to the union despite having different roles or actions. Thus, when the partnership breaks up, the marital property should be divided on a 50-50 basis or as close to that concept as possible. This division occurs after the marital debts have been taken into account.
As part of this concept, not all property may be marital property. Gifts, inheritances, or income gained from property that is separate property is not part of the equation. Separate property may become a difficult or complex matter to deal with in a California divorce. For example, one party may own property in his or her name prior to the marriage but the mortgage, taxes, and maintenance costs of the property may be paid out of marital funds. Other complicated areas that may need sorting out include retirement or pension plans or businesses that were in operation by one spouse prior to the marriage. In order to determine how these assets or properties should be identified, valued, and divided, the services of specialists may be required, such as appraisers, accountants, and tax specialists. Division of community property may be a simple or extremely complex matter in any California divorce, depending on the assets, property, and histories involved.
Divorce Lawyer in Orange County, California
Those contemplating a divorce in California will need to make decisions concerning the division of marital debts and property, child custody and parenting plans, spousal support, and countless other matters before the legal process can be finalized. These decisions often require a thorough understanding of the ramifications involved. Your life and the lives of your children may be impacted for years to come, which is why competent legal guidance is necessary.
The Hunter Law Group, based in Mission Viego and serving Orange County and the Los Angeles area, is a family law firm with the skills and experience needed in any divorce or related issue. Lead attorney Daniel Hunter is extremely well-versed in all areas of divorce and family law and has litigated against some of the most prestigious law firms in the area. The firm's history of success and proven results reflects the quality of legal service you can expect when facing the tough issues of divorce and family law matters. To learn more about how the firm can help you,
contact their offices of a legal consultation about your family matter today.
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