Property Division Attorney in La Jolla
Division of Marital Assets & Debts During Divorce
When a couple divorces, they must divide all marital assets and debts. California is a community property state and unless there is a prenuptial agreement, assets and debts acquired during the marriage are owned equally by both parties. The La Jolla property division lawyer at Dan McCandless Law, APC works hard to protect your rights and ensure you retain what is yours.
Please call (858) 266-9171 for more information about our services and to schedule a consultation to discuss how assets and debts may be divided in your unique situation.
What Is the California Community Property Law?
California community property law applies to both assets and debts that were acquired during the marriage. Marital assets may be divided in a number of ways, depending on the nature of the assets and the wishes of each spouse. For example, a home that was purchased during the marriage may be sold and the proceeds split, or one party may retain the home and pay the other with the equity.
Some examples of marital property may include:
- Homes and real estate investments
- 401k and retirement accounts
- Stocks and investment accounts
- Art and valuable collectables
- The value of a business during the marriage
In addition to assets, marital debts must be divided during the divorce process. This includes mortgages, car loans, credit cards, personal loans, and any other debt that may have been incurred during the marriage. Dividing debts can be complicated and you may not be responsible for all debts. Our La Jolla property division attorney offers advice tailored to your unique circumstances.
An Attorney with a Financial Background
The process of dividing marital property begins with valuing certain assets and debt. You will need to gather information and records to show the value of marital property and assets, as well as all debts incurred during the marriage. We can provide guidance to help with determining the value of real estate, art, financial investments, and other assets.
Dan McCandless offers the unique advantage of providing experienced guidance concerning your financial situation, valuing assets, and other financial goals. He has in-depth knowledge from working in the financial industry for seven years prior to attending law school. He uses this experience to help our clients with the accounting aspects of the process of dividing marital assets and debts.
Experienced with High Asset & Complex Cases
We handle cases of all levels of complexity, including situations involving high value assets and businesses owned in common or by one spouse. Our divorce attorney uses his extensive knowledge of California law and his financial background to fight for your best interests and help you achieve your goals, so you can move forward with your life on solid ground.
Our La Jolla property division lawyer can provide advice for your specific situation during your initial consultation. Please call us for information about our reduced rate consultation fee and to schedule an appointment today.