Glendale Property Division ATTORNEY
Property Division Attorneys in Glendale
Protecting Your Rights, Assets & Best Interests
At Holmes & Holmes, we are committed to helping our clients get through the divorce process as efficiently as possible. We strive to use our decades of experience, aggressive litigation style, and network of experts to get our clients the outcome they need. As a practice that focuses solely on family law, our firm is dedicated to providing families with high-quality legal counsel that will help them move forward with their lives. Our firm consists of five highly experienced attorneys who have a comprehensive understanding of the divorce process and what it takes to be successful.
Call our Glendale property division attorneys today at (818) 284-6632 to get your situation resolved. We are also fluent in Armenian and Spanish.
What Does Property Division Entail?
Dividing property and assets after a divorce can be a difficult and lengthy process. If you did not sign a premarital agreement, you and your spouse must agree on how your property is to be divided or a court will do so for you. This process may be stress-inducing if you cannot reach an amicable decision. Many times, people forget that the term property is all-encompassing and can even include things like lottery winnings and personal injury settlements. This makes the representation of an experienced family law attorney even more invaluable.
At Holmes & Holmes, we help our clients divide the following, and more:
- Debt allocation
- Family heirlooms
- Insurance policies
- Personal property
- Credit card accounts
- The family home/homes
What Is the Difference Between Community and Separate Property?
Because California is considered a community property state, all of the assets obtained during the marriage become “community property.” This also includes any of the debts in incurred.
Here are some examples:
- Community property: If you purchased a car during the marriage with money from your bank account, and that money was earned during the marriage, then that car would belong to both you and your spouse. Community property does not extend to gifts or inheritances.
- Separate property: This refers to any properties that you owned individually before you were married. As long as that asset remains separate, it would remain to be yours. Your individual debts, anything incurred before the marriage and with your own money, would also continue to be your debts.
If you need assistance from a caring and capable attorney to help you during this time, we are happy to help. Our Glendale property division lawyers have handled countless divorce cases in our 136 years as a family law firm, and we're prepared to provide the effective counsel you deserve.
How Does Separate Property Become Marital Property?
In California, separate property can become marital property through a legal process called "transmutation." Transmutation occurs when one spouse changes the character of their separate property to community property or vice versa. Community property refers to assets and debts acquired during the marriage, which are generally considered jointly owned by both spouses.
There are two main ways in which separate property can become marital property in California:
- Written Agreement: Transmutation can occur through a written agreement between the spouses. If a spouse with separate property intends to change its character to community property or vice versa, they must do so through a written agreement that is signed by both spouses. This agreement should clearly state the intention to transmute the property and must be properly executed according to California law.
- Commingling of Assets: Commingling happens when separate property is mixed with community property in such a way that it becomes challenging to distinguish the separate and community portions. For example, if one spouse has separate funds in a bank account and later adds community funds to the same account or vice versa, the separate property can become commingled and lose its separate character.
It is important to note that the burden of proving transmutation or commingling falls on the party claiming that separate property has become marital property. This means providing evidence such as written agreements, financial records, and other documentation that clearly demonstrates the intent to change the property's character.
If there is a dispute regarding the character of property during divorce or separation proceedings, the court will carefully examine the evidence and make a determination based on California community property laws. Seeking the advice and guidance of a qualified Glendale property division attorney is crucial to ensure that your rights and interests are protected in such situations.
Property Division in a Divorce
One of the most important aspects of a divorce is figuring out who gets different assets after it is finalized by consulting a divorce lawyer.
For the vast majority of people today, a house is the largest financial investment that they will own. There are many people who want to continue owning a home after their divorce. However, if you purchase a home with your spouse, you will have to figure out who gets to keep it.
If you are your spouse own a business together, this makes the situation even more difficult to get through. As a general rule, it is best if one person ends up with all of the control in a business. This will help keep things organized after the divorce is final. If you cannot work this out with your spouse, you may have to end up splitting different parts of the business out.
If you are about to go through a divorce in California, finding the right lawyer is one of the most important decisions that you can make. There are various family law attorneys to choose from in this area. However, there are a few options if you want an experienced property division lawyer near you who has reasonable rates.
“I think that he had a hand in making what was one of the most horrific things that had ever happened to me work out for my benefit. I highly recommend him!” - Tina
“Going through (my sisters) divorce is difficult but I’m so happy that she had the guidance of Robert Holmes who supported her every step of the way.” - Dave T.
“If you are looking for a "warm and fuzzy" personality this is not the attorney for you. However, if you need an aggressive highly respected litigator you would be foolish not to hire him. He is worth every penny.” - MM