Divorces are usually contentious affairs, but things really ramp up when it comes to division of assets and debts. Certain types of assets, such as offshore accounts, can be difficult to divide evenly and it is not uncommon for spouses to feel like they are being “ripped off,” further introducing hostility and spite.
If you are dealing with this type of matter, your best bet is to recruit the assistance of a skilled attorney familiar with division of assets and debts. You need someone to represent your interests and protect your rights during all steps of the divorce process, especially those relating to arrangements involving property division, child custody, and spousal support.
How Division of Assets and Debts Works in California
Generally speaking, all assets which were acquired during the length of the marriage, including money, vehicles, and real estate, are considered community property and should be split evenly between both parties. This also applies to debts that are accumulated during this time, as they are also divided in half.
Thus, division of assets and debts primarily centers on determining which assets and debts fall under community property, and which are regarded as separate property. Once this is established, the rest of the process is rather straightforward, with the assets and debts that are classified as community property being divided evenly between both parties.
How Attorneys Protect Your Interests During Division of Assets and Debts
There are instances where complicated portfolios, offshore accounts, and other assets prove to be very difficult to divide. Not only that, but it can be challenging to prove when an asset was rightfully yours, leading to a ruling that is unfair and infringes upon your rights. This is where an attorney who is skilled in division of assets and debts can come into play. At the Law Office of James P. White, we work hard to ensure that you are represented fairly and in a manner that protects your interests above all else.
For all your matters involving division of assets and debts in California, trust the family law experts at the Law Office of James P. White. Call us at (925) 271-0999 today to learn more about how we can help.