Orange County Marital Property Division attorneys
Property division in Orange County can be one of the most heated subjects connected with divorce. Regardless of what the length of the marriage is, it is very important that property is divided up reasonably. The lawyers at our law firm possess considerable experience in working with difficult divorce and property division cases.
Marital and Non-Marital Property Orange County
It is essential for all couple having a divorce to know the primary difference between marital and non-marital property:
- Marital property – All property a spouse or couple acquires at the time of marriage is deemed as marital property. According to these rules, marriage will begin the day of the wedding.
- Non-marital property – Non-marital property is deemed as any property somebody received well before marriage, as well as then brought into the marriage.
There are certain exceptions to both marital and non-marital property. As an example, gifts or inheritances could be categorized as part of one spouse’s estate and not the other’s. Moreover, certain non-marital property can be converted into marital property in the marriage or even in the divorce. Our own lawyers can discuss just how Orange County marital and non-marital property laws and regulations affect your divorce.
Property to Divide
Separating property during a divorce is usually problematic. In some cases, one spouse could have concealed assets. Whenever a spouse is self-employed, for instance, it usually is tougher to divide property in Orange County. Our attorneys will help clients in even the most complex marital property cases.
We can assist clients in managing Orange County asset and debt division, like the correct appraisal and allocation of these types of property:
- Bank accounts
- Retirement funds
- Other financial assets (IRAs, stocks, bonds, etc.)
- Worker’s compensation awards
- Personal injury awards
- Medical malpractice awards
To plan a free of charge discussion with one of our own seasoned property division lawyers, contact us right away.
Orange County Community Property Lawyer
Splitting up community property in Orange County throughout the marriage dissolution process would appear to be clear-cut. Just about all property, assets and debts received in a marriage (with a few exceptions) should be divided up equally between the spouses. In real practice, however, dividing community property becomes an incredibly complex process.
Finding out what is truly community property, valuing it and separating it reasonably requires a skilled Orange County community property attorney. Our firm has been advising and helping clients in divorce and community property Orange County matters for many years, such as lots of challenging property division cases.
Contact for a consultation right now. An Orange County community property attorney at our own firm can certainly examine your situation and talk about aspects of probable concern. Our own target in every single case is to protect our client’s legal rights and interests.
Getting a Fair Orange County Property Division Settlement
In working to receive a fair division of property, our firm meticulously looks at every factor of the case. We are going to systematically evaluate the origins, transformations and valuations of the properties concerned. In obtaining a fair property division settlement, there are five key areas of inquiry:
Characterization of Property identifying what exactly is separate and what is marital property.
Transmutation tracing how separate property was changed to community property.
Valuation valuing financial assets, debts, real property and also possessions.
Division Issues assisting with fairness cases and realistic issues regarding the division of property, like what to do about the house. In particular, there are very complicated cases with regard to refinancing of the family home, especially when separate property has been given either as the down payment or to pay off the mortgage payment. The opposite will also be troubling every time a separate property home is refinanced by the community or when the community pays the main separate property mortgage payment. Pricey litigation can happen if you do not consult an attorney devoted to this area of law, as we do, at the earliest opportunity, ideally when thinking about the alteration in ownership or refinancing of real property.
Tax Planning decreasing the effect of taxes.
Furthermore, a Pension Plan Survivor Benefit may not be granted completely to one spouse in the event that result could be an unequal distribution of the community interest in the pension.
Your circumstances offer specific qualities that require educated and informed help. The attorneys at our firm have got comprehensive experience with these and almost all other areas of property division. We will work to get a good and practical resolution of all property division problems, while guarding your rights throughout the process.
Complex Division of Orange County Marital Property
There are many reasons why divorcing spouses might believe it is difficult to resolve Orange County property division issues. Often enough, the main reason is that there may be quite a great deal of property to fight over. Other reasons range from distinguishing particular assets as marital property, valuation complications for tightly held or family business assets, or even the enforcement of the terms of a premarital agreement.
Whatever the particulars of your property division situation, the attorneys of our firm can counsel you of your rights while going after a practical resolution of the problems through negotiation when possible or perhaps litigation when needed. Phone our own divorce attorneys for an absolutely free first consultation concerning your choices.
Separating Orange County Marital Assets
Property acquired or assets gained over the course of a marriage are subject to division. While not a complete list, below are subject to division if acquired after marriage:
- Equity in a home
- Proceeds or income from a business
- Retirement funds
- Money because of an inheritance
- Stocks, bonds, investments
- Real estate property
What the Court considers in Separating Marital Property in Orange County
Being an equitable distribution jurisdiction, a number of states provides its family court judges very large discretion in separating marital property between divorcing spouses. The aim just isn’t to achieve a totally equal division of property between the parties, but to split the assets and liabilities of the marriage fairly between them in light of a lot factors: the contributions of each spouse to the marital estate, the contributions of each toward child care and housekeeping, the capacity of each to live in comfort on his or her own income, and also other considerations.
Identifying Orange County Marital Assets and Property Subject to Division
All of us help you to establish a good sense of your aims and worries about the property division process, and we can help protect your interests while discovery and negotiations are continuing. Our attorneys will take a look at spouse’s financial statements and make certain that all assets and income are correctly disclosed. If your spouse is the active principal in a family business, we are able to do something to make certain the profits are safe and that operations are not controlled to depress asset values. If required, we are able to likewise use private investigators or forensic accountants to discover and establish hidden assets or fraudulently transferred property.
In military divorces, we could evaluate your rights not just with respect to pensions, but also the very significant benefits accessible in long-term military marriages under the Former Spouse Protection Act (FSPA).
Very often, it is best to take into account Orange County complex property division problems connected with the resolution of spousal support claims. From a tax point of view, it will usually sound right to make concessions on property division in return for an even better alimony settlement or vice versa, dependent upon your specific situation.
Whether your property division concerns involve investment properties and stock options, the valuation of family business assets, or perhaps the recovery of your payments on your spouse’s old student loans, our own thorough information about Orange County divorce law can help secure and advance your interests. Give us a call for a zero cost first consultation regarding your property division concerns.