Asset Division: Westlake Village Divorce Attorney
Not sure what assets you are entitled to in a divorce?
We at Richard Ross Associates know that getting a divorce is a legally complex and emotionally taxing process. Property division is often one of the key points of contention in a divorce, and we can provide the legal representation you need to seek a fair agreement or verdict.
Call us at (805) 777-1011 to discuss your unique situation with our Westlake Village divorce lawyers.
The matter starts to become complicated with many valuable assets such as homes or businesses, when they may have belonged to one spouse prior to the marriage, but both have invested in them significantly since the marriage. Of course, there is also the fact that it is rarely practical to literally divide everything in half. In this case, the role of the court will be to ensure that the assets are divided in a way that is fair, so that each party is left with assets roughly equivalent to one another in value.
Community, Separate & Quasi Community Property
In California, all property acquired during a marriage is considered community property, meaning both spouses equally own it. During a divorce, this is divided evenly among the spouses. Separate property, on the other hand, is anything acquired by either spouse before they were married, or property that was gifted to either spouse separately. Lastly, quasi-community property is that which was acquired by either or both spouses while living in another state which would be considered community in California. In California, quasi-community property is considered community property and will be even distributed with the other shared assets.
The first step in dividing assets is determining what is considered community property, which can be complicated in cases involving:
- Jewelry, particularly wedding rings
- Investments, particularly when they were gifts
- Inheritances to one or both spouses
- Assets held in trusts
- Stock options, depending on why they were given and to whom
Because asset division can be incredibly complex and one of the most contentious parts of any divorce, it is vital that you enlist the help of an experienced attorney. Richard Ross Associates will assist you in the process while protecting your best interests.
Contact a Thousand Oaks Divorce Lawyer Today
Going through a divorce is not a pleasant legal matter, but hiring a Certified Family Law Specialist can help to ensure that the process goes as smoothly as possible. You don't want to end up with an unfair settlement that doesn't accurately reflect what you actually deserve. With over 30 years of experience, we are prepared to offer compassionate support and to litigate aggressively when necessary. At Richard Ross Associates, we know asset division, and we are very familiar with the local legal systems of both Ventura and Los Angeles counties.
Don't wait - contact our team today for the help that you will need.