Property Division in San Diego Divorce | San Diego Family Lawyers
When you are married, you share everything: the bar stools in the kitchen, the family photos in the frames, and the fine china. Yet when you decide to divorce, it is suddenly necessary to decide how to split all of those shared assets. California is a community property state. California Family Code section 760 defines community property as “all property, real or personal, wherever situation, acquired by a married person during the marriage while domiciled in this state is community property.” While some property that you obtained during your marriage may be considered separate property, the majority of the assets you obtained while you were married will be considered community property, and in general this is split 50/50.
Types of Assets to be Divided in a San Diego Divorce
During a divorce in San Diego, your San Diego divorce attorney and your ex’s attorney will make an inventory of all assets that are to be divided. This property can include nearly anything that you and your spouse obtained during your marriage, but the most common assets include:
• Commercial or residential real estate
• Land or other property
• Bank accounts
• Stocks and other investments
• 401k plans
• Pension plans or IRA
• Business interests
• Insurance policies
• Automobiles or other recreational vehicles
• Patents or trademarks
• And more
Mediation and Dividing Property in a San Diego Divorce
While it may seem simple enough to divide all of your shared property 50/50, the truth is that divorcing couples rarely see “eye-to-eye” when it comes to how to split this property. Spouses who mediate their divorce can choose how to divide this property and they alone will determine who gets the house, the car, and the personal belongings.
If a divorcing couple cannot reach an agreement on the division of their assets, then a judge will manage this task for them. This is usually not ideal and you and your spouse will benefit greatly from reaching a settlement outside of the courtroom. There are many costs and taxes that are associated with dividing and selling assets. As such, an experienced San Diego divorce attorney can help ensure that you do not overlook these important costs during your divorce.
San Diego Divorce Lawyers on Your Side
When you decide to divorce, there are many decisions that must be made regarding your property and assets, such as: Who will get the house? How will our retirement account be divided? Who will get the family memorabilia and furnishings? What about the dog? As such, you need an experienced San Diego divorce attorney on your side from the moment you decide to file for a divorce.
San Diego divorce lawyer Shana Black understands the complications that can arise during a San Diego divorce. As such, she works meticulously to protect your rights and your family’s future during the divorce process. She has successfully represented numerous San Diego divorcing couples and their families through their divorce proceedings. Call 1-619-557-0122 or email firstname.lastname@example.org to learn more about all of your San Diego divorce options.