Dividing Your Assets After A Divorce Does Not Have To Be A Loss
One of the most significant issues couples face during a divorce is the division of their property. From keeping the family home to determining how to divide joint bank accounts and owned businesses, an experienced attorney can help protect your interests.
At Lord & Brooker, APC, our divorce attorneys have decades of combined experience focusing our practice on family law. You can trust us to take the time to understand your unique situation and develop a strategy that will help you meet your financial goals after your divorce. With offices in Redlands, Riverside and Temecula, we are ready to help you successfully move forward after your divorce.
Maintaining Your Standard Of Living After Your Divorce
In California, any property acquired during the marriage is considered community property and is subject to division after a divorce. Separate property not subject to division includes any property acquired by one spouse before the marriage, property gifted to one spouse, inheritances and anything defined in a pre- or postnuptial agreement.
Property that is subject to division in California includes:
- Real estate
- Retirement accounts
- Education savings accounts
Property division in California operates with the goal of fair and equitable distribution. However, that does not mean that courts will divide assets 50/50. The main objective of property division is to leave each spouse on even footing, which enables them to maintain the standard of living they had during their marriage. Other factors are also considered, including child custody and spousal support. For example, if the children primarily reside with one spouse, it may make sense for that spouse to keep the family home.
For complex assets, such as owned businesses, investments and retirement accounts, finding a suitable solution to divide them fairly may be challenging. If you have complex assets or a high net worth, you must work with an attorney who can navigate these complicated issues.
We Will Fight For What You Deserve.
Divorce inevitably has a substantial impact on your financial future. We can help you meet your financial goals and advocate for your rights. Contact us to schedule a case evaluation by calling 909-741-1623 or completing our online contact form.