Experienced Property Division Attorney in Newark, CA
When married couples separate, so do their assets. One of the big challenges for any divorcing couple is determining who gets what – whether the asset in question is a house, car, retirement account, or property. Likewise, parting spouses often have issues of shared debts to resolve.
Attorney Cynthia Cho has two decades of experience as a family law attorney. Through her Newark, California, law practice, she can assist clients through all divorce stages, from filing settlement negotiations or trial to ratifying a divorce decree.
For more information or a consultation with an experienced Newark property division attorney, call CC LawGroup, A Professional Corporation, at 510-402-1579.
The Difference Between Separate Property and Community Property in California
California is a “50/50” community property state. This means that assets you acquired during your marriage must be divided equally between parting spouses unless an agreement is reached out of court.
The two kinds of property recognized in California divorces are:
- Community property: Includes assets and property that a married couple acquires during marriage, including houses, vehicles, second homes, and savings and retirement accounts. Specifically, this applies to assets acquired between the date of marriage and the date of separation. Assets must be divided equally unless there is an extenuating circumstance, such as a prenuptial agreement or one party waives their right to an asset.
- Separate property: Includes assets and property that spouses brought into the marriage or acquired after separation. Anything not considered community property is typically regarded as separate unless it has been “commingled,” or blended with the marital assets in some way. For example, if you convert your sole bank account into a joint one when you marry, all funds within it may become community property.
Whether certain assets are community or separate property can be determined using evidence with the help of an attorney. Debts, including mortgages and credit card debts, can be apportioned by a similar process.
Our law firm can assist you in determining which assets and debts are yours and which are those of your parting spouse. We do this by discussing your situation, reviewing your financial documents, and comparing those to the financial status of your shared estate or the other party.
Let’s Make a Deal – Negotiation May Be Your Best Option
With some divorces, property division is a contentious process that requires a court intervention to settle. In such situations, CC LawGroup, A Professional Corporation, is ready to advocate for your interests with energy and to the fullest extent of the law.
We advocate that, when possible, parting spouses should at least consider a negotiated solution, whether by settlement or mediation. When all parties have “buy in” to a divorce agreement, there tends to be less animosity and more willingness to cooperate for the good of everyone involved.
When negotiation is possible, we can work as an intermediary – negotiating with your parting spouse’s attorney or acting as a mediator to settle differences and fairly apportion assets and property.
Deals can be worked out. For instance, if one party wants to keep the house and is willing to forgo a measure of spousal support, we can help work out a settlement that reflects that wish and keeps the issue from going to court.
What Are Your Goals? Let’s Work Together to Achieve Them
Often, a divorce proceeding comes down to a few simple questions: “What are your priorities?” and “What are your financial goals following a divorce?”
At CC LawGroup, A Professional Corporation, we can analyze your financial situation and suggest a game plan to get you the most results with the fewest compromises. Let Ms. Cho’s compassionate demeanor and legal expertise help you through your simple or complicated asset and debt division process.