Our Beverly Hills, Southern California community and separate property attorney at Trugman Law Group APC provides exceptional representation for individuals who are seeking to legally establish their assets as community or separate property, in the event of a divorce.
While prenuptial and postnuptial agreements tackle these issues before a divorce can occur, couples without a binding agreement regarding their assets and debts can become quite confused as to what they own – and what they are going to split when the divorce is final. Our Beverly Hills Complex & Separate Property attorney will provide clear and concise instructions regarding the legal determination of what constitutes community or separate property in Southern California, including Los Angeles County, Orange County, or Riverside County.
First Things First: What is Considered Property in Southern California?
Property is considered as anything that can be bought or sold including, but not limited to:
In addition, property may also include:
- 401k Plans
- Cash and bank accounts
- Life insurance policies with cash values
- Security deposits on rental properties
If there is any confusion regarding what you believe to be property, and what your spouse is recognizing as property, contact our Community & Separate Property law office in Beverly Hills, Southern California today for a clear outline of property definitions and how you should proceed with their distribution.
What is Considered Community Property in Southern California?
Community property is defined as the property that was acquired during a marriage – apart from inheritances or gifts. Community property is owned by both parties and is property that will be divided after an annulment, divorce, or death.
California is a community property state, which means all marital property will be divided equitably between the divorcing couple unless deemed otherwise by the courts, or previously outlined in a prenuptial or postnuptial agreement. Community property in Southern California does not only refer to assets obtained during the marriage, but also the debts incurred.
This means that you may be on the hook for debt that you do not know exists when filing for divorce. Likewise, assets may not be as openly referenced in your home and only become apparent in the event of a divorce, including pensions or retirement funds.
Community property can be confusing, and it certainly becomes a point of contention when divorce proceedings begin, which is why our Beverly Hills Community & Separate Property attorney works tirelessly for individuals who are seeking a divorce – so they are armed with the information they need to move forward financially. Our Beverly Hills complex property division lawyer can help you discover the details of your marital community property, so you know exactly what your financial future will bring in the event of a divorce.
What Is Considered Separate Property in Southern California?
Separate property in Southern California is property that is owned by one spouse only – before s/he is married. It will also include any property acquired during the marriage that is the result of an inheritance, gift, or devises from another person, friend or family member.
Separate property is clearly defined by law, but when divorce proceedings begin, couples are often perplexed by the legalities of what they are entitled to. At the Trugman Law Group APC, our Beverly Hills complex property division attorney in Southern California will outline the legally binding statutes that leave no confusion regarding who owns what, and what property will be divided and shared after a divorce is final.
Remember, just because your spouse believes that the property belongs to both of you, it does not mean it is true. You will need to consult a Beverly Hills complex property division lawyer regarding any questionable assets or debts where the property owner is not fully understood by both parties. Our Beverly Hills Complex & Separate Property division attorney will simplify the process and provide a clear understanding of how your property rights will unfold.
Our Southern California family law practice areas include:
- Divorce and Annulment
- Child Custody
- Child Support
- Spousal Support
- Domestic Violence and Harassment
- Civil Restraining Order
- Prenuptial and Postnuptial Agreements
Contact Our Beverly Hills, Southern California Community and Complex Property Division Attorney Today
If you are considering a divorce, have filed for a divorce or were served with divorce papers, or simply want to understand your ownership rights to the property you and your spouse possess, contact our Beverly Hills, Southern California community, complex and separate property division attorney at Trugman Law Group APC today at 310-273-8834. Couples are often surprised when it comes to the legal definitions pertaining to property rights. Our Beverly Hills complex property division law firm will explain each detail plainly and efficiently, so you know exactly what your financial future will look like before you finalize your divorce. Call us today to learn more.