Property Division

In Ventura, Los Angeles, and Santa Barbara County, the law firm of Richard Ross Associates provides expert advice and representation in a host of family law matters, including the important issue of the division of property in a divorce.

California is a community property state, meaning that each spouse owns a one-half interest in all property belonging to the marital estate.  In a divorce, the judge will attempt to divide the marital estate equally between the two spouses.  This means that the proper characterization and valuation of every asset is vitally important to a fair property settlement.

What is community property?

As a general rule, community property is all property acquired during the marriage in California.  Property acquired while living in another state is deemed by the court to be quasi-community property and is therefore subject to equal division like community property.  Community property also includes wages earned by either spouse, as well as debts they have incurred.

What is separate property?

Some property acquired during the marriage may nevertheless be considered separate property.  For instance, if one spouse receives a gift or inheritance, the money or asset received may be separate property.  This property may still become community property if it is not kept separate from the marital estate.

The date of the legal separation is often important to the property division.  Wages and other property acquired after the date of separation are generally considered separate property, and as such are not subject to division by the court.

Business Interests and Other Significant Issues

The characterization and valuation of assets can be a complicated matter.  For instance, what if one spouse owns a business, or a share in a business?  Are there instances when that business interest should be considered separate property as opposed to community property?  What about a spouse's interest in a pension or profit-sharing plan?  The attorneys at Richard Ross Associates are experienced with business valuations and other complex issues, such as how to valuate a situation when the wage-earning spouse paid for the other spouse's schooling.

Seek Experienced Representation

The information on this page only scratches the surface regarding the law on California property division.  If your estate involves ownership of a business or a home, farm, or other significant property, you will want to seek the advice of an experienced family law attorney to make sure your rights are protected and your interests are fully represented in the property settlement.  The team at Richard Ross Associates practices family law exclusively, and has been doing so for over 20 years.  If you are concerned about how your property will be impacted in a divorce, contact Richard Ross Associates for professional legal advice.