When two people decide to separate, they must determine how they will divide their shared assets. This process can be complicated, especially when emotions run high. The team at Bez Law Firm, P.C. will explain the process of dividing property during a divorce in California, including the options for mediation and collaborative law.
Reviewing Division Laws
California is a community property state, meaning any assets acquired during the marriage—including money from salaries, investments, or inheritances—will be divided equally between spouses unless otherwise specified in a prenuptial agreement.
In some cases, couples may agree on how to divide their property; in others, the court may have to decide. It is important to note that certain items, such as family heirlooms or sentimental items, may not necessarily be considered “shared assets” and, therefore, should not be included in the division of property agreement.
Potential Options for Dividing Property
Divorcing couples have a few options for dividing their property in California.
One option is mediation, where a neutral third party helps facilitate communication between the couple so they can come to an amicable solution on dividing their assets without involving a judge or court.
Another option is collaborative law, which involves both parties working with attorneys and other professionals (such as financial advisors) who will help them reach an agreement on how best to split their assets.
Finally, if all else fails, couples can go through litigation, where they will present their case before a judge and let them decide how the assets should be divided.
Property Division Shouldn’t Be Done Alone
Splitting up property during a divorce can be complicated and emotionally charged for both parties. It is important for divorcing couples in California to understand their rights and responsibilities under community property laws when it comes time to divide their shared assets. Furthermore, mediation or collaborative law can help couples reach an amicable resolution without involving a judge or court. By understanding these processes, couples can reduce stress associated with this challenging situation and work towards getting back on track with their lives after divorce.
Property division can be hard to navigate alone. Don’t worry; you don’t have to. Contact us at (916) 512-8944 for a consultation.