Over the last several years, The Law Offices of Joseph Torri has represented hundreds of Whittier clients in various family law matters. We have adjusted to changes in the law and are able to provide legal services to parties who are part of historically traditional marriages, as well as domestic partnerships. Assistance will span various topics, including child custody matters, child support, partner support and community property division.
General Information about Community Property Division in Whittier
Whittier Community Property Division LawyersCalifornia is a community property state and this feature can have a dramatic influence on the division of property during the dissolution of your marriage or domestic partnership. Community property refers to any real or personal property that was acquired during the marriage or domestic partnership. This includes all assets and debts. Each partner owns an equal share of all community property. Many couples are surprised by the various types of community property that they have. If an individual kept part of his work earnings in a separate account to purchase an item, such as a vehicle or piece of property, the item is still considered community property. It is irrelevant whose name appears on the deed or the debt. Each individual of the marriage has an equal ownership in all assets and debts that were acquired during the marriage or domestic partnership except for gifts and inheritances. If you are experiencing difficulty in properly dividing your community property, contact Whittier Trial Lawyers for assistance.
Steps in Community Property Division in Whittier
First, you must complete a detailed list of all community property and separate property. Also, include the fair market value of each item and attach any supporting documentation with your Schedule of Assets and Debts form that you will submit to the court. You and your partner may be able to amicably determine a method in which to divide your assets and debts so that each party receives about half of each. If this is possible, a lawyer can assist you in drawing up a formal agreement for approval by the court. Domestic partnerships may pose their own set of complicated issues because federal laws and many creditors do not recognize the relationship. This may pose a problem for same-sex couples who want to attach one of the party’s pension plans as an asset of the partnership. If the couple is unable to reach an agreement, a trial date will be set to determine how to divide the community property.
Community Property Division Disputes in Whittier
Several problems can arise when spouses or partners attempt to divide community property. It is important to list each asset and debt of the marriage or partnership because repercussions can be severe when a party hides this important information. Individuals may dispute the value of certain items and may have estimates that differ as to the fair market value of the items. Even after an agreement is reached, one party may not comply with the terms of the agreement. An experienced community property division lawyer, like the Joe Torri law firm, can assist you through every step of the process to ensure that your rights and financial future are protected.
Contact The Law Offices of Joseph Torri at (866) 630-5757 to schedule a free case evaluation.