California is a community property state. In most cases, the property, assets, income, and debts that are acquired during a marriage are considered community marital property. The division of marital property can often be a contentious issue that drives spouses even further apart. My goal is to help you work through this issue by looking at each asset and finding a reasonable and creative way to divide it so that in the end everyone feels they have gotten their fair share.
Creative Solutions to Marital Property Division
The overall division of marital property is usually roughly about equal. However, property that was acquired before the marriage, or as a gift or inheritance, is considered non-marital property and is not subject to property division. I approach my client's property concerns in a creative and active manner. There may be ways of dividing your property that were not previously considered. I am adept at exploring different options when it comes to dividing:
- Bank accounts
- Retirement plans
- Personal property
- Marital debt
- Real estate acquired and paid for during the marriage, as well as the proceeds of a sale related to real estate holdings
When necessary, my firm works with experts such as real estate appraisers, accountants, and business evaluators, to help determine the correct value of these types of assets. I also help you explore the tax implications that may follow for certain types of marital property. I use all of this information to arrive at a reasonable, equitable settlement, which is always my goal.
I also believe that by taking an approach that avoids litigation, and keeps the arena of negotiation open to all parties, we can create a calmer setting where people are more willing to work together rather than against one another. We can explore different strategies such as trading whole assets or debts, instead of letting the court split everything. If both sides get certain things that they want, this also creates a better environment for the children involved, because both parents will be satisfied and will probably continue to work together on other issues such as child custody and parenting plans.
As your divorce lawyer, I am here to help you arrive at an equitable distribution agreement for your marital property. Like any other business transaction, it should be a quick, efficient, and calm process.
Steven G. Rosenberg is a family law attorney and divorce lawyer located in Alameda, California. Our law firm specializes in divorce, child custody, paternity, and all aspects of family law. We represent clients throughout the Bay Area including: Oakland, Piedmont, Montclair, Berkeley, Hayward, San Leandro, San Lorenzo, Dublin, Fremont, Martinez, and Alameda and Contra Costa counties.