Experienced Community Property Attorney Gurjit Srai Helping You Through This Difficult Time
Divorce can be a difficult and challenging time for most people. This may be especially true if you are not familiar with how the divorce process works in California. There are certain terms that you need to become familiar with. One such term and concept is community property. You need to hire a Stockton community property attorney with experience and legal skills to answer your legal questions and help you through the process.
At the Srai Law Office, our legal team works hard to reduce your stress during the divorce process. We will handle your divorce with experience and compassion. We will use our knowledge and legal skills to quickly resolve your divorce so you can move on with your life.
California Is a Community Property State
California is a community property state. As a general rule, any property that is obtained during marriage through the efforts of either spouse or with community property funds is community property. This means that, even if only one spouse worked and the other stayed home raising children, both spouses are entitled to one-half of the community property.
The court will generally divide community property 50-50 at the time of divorce. The court has several ways to order equal division of property. Two common ways include ordering a buy out of one party’s interest and ordering equalization payments.
What Is Separate Property?
Property that is acquired after separation is considered separate property. Property that is considered separate at the time of divorce is not subject to the 50-50 division rule. In other words, you get to keep all of your separate property and do not have to share it. As such, it is important that you list the exact date of separation in a dissolution proceeding. Common types of separate property include:
- Property one spouse owned before the marriage
- Gifts received by one spouse before or during the marriage
- Property acquired during the marriage in one spouse’s name and never used for the benefit of the other spouse or the marriage
- Property acquired by one spouse using separate property assets with the intention of keeping it separate
- Certain personal injury awards
- Any rents or profits acquired from separate property
- Inheritances received before or during marriage
Our attorneys will educate you on the law and how the requirements may impact your case. Our Stockton divorce attorneys can help you determine whether your assets are community property or separate property. This will help you reach a fair property settlement during divorce.
Reaching a Fair Property Settlement During Divorce
Getting an accurate inventory of all assets is important in the marital property settlement process. The following types of property can be divided during the divorce process:
- Bank accounts
- Real estate
- Other property
At the Srai Law Office, our legal team will research the specific facts of your case to determine what properties each party should get. We are also skilled in handling cases in which one spouse is suspected of having hidden assets. We will use our sources and hire forensic accountants to find hidden assets.
Important Property Issues to Resolve During Divorce
If you and your partner have some sort of agreement, the division of property may be relatively simple during the divorce process. However, without written guidance provided by a prior agreement, you may need to resolve a number of issues, including:
- Identification of all assets and debts.
- Determination of whether an asset or debt is community property or separate property.
- Determination of the value of your assets. This can be rather difficult if you and your spouse have complex business assets.
Our Stockton community property attorneys are here to assist you. We will help your deal with the challenges of the division of property through skilled negotiations and aggressively representing you in family court.
Frequently Asked Questions About Community Property and Other Divorce Issues
When you are dealing with a divorce, we know that you may have many questions. It is always important to speak directly with a community property attorney in Stockton about your case.
However, we understand that you may need quick answers to certain questions. Although the legal team at the Srai Law Office is available to answer your questions anytime, below are basic answers to some of our most frequently asked questions:
Do Debts and credit cards also have to be divided?
Debt is classified as either community or separate property debts. Any debt you and your spouse incurred during marriage will generally be divided equally at the time of divorce. It does not matter whose name is on the debt. However, some exceptions do apply.
For example, credit card debt that is incurred during marriage is considered a community debt, regardless of whose name is on the credit card. One exception to this rule is student loans. Debt incurred before marriage or after separation is a separate property debt.
What happens to the family home?
The family home is generally the most expensive asset in California divorces. The division of the family home is often complicated, especially if minor children are involved. The division process becomes even more complicated if the family home is in one spouse’s name.
You should be aware that if you stay in the family home after separation, you may be incurring indebtedness to your spouse if the fair value of your home exceeds the mortgage payments. The reverse may also be true.
What assets are easily overlooked during divorce?
Some assets that are easily overlooked during divorce but may turn out to be valuable include:
- Tax refunds
- Frequent flyer miles
- Season tickets
- Prepaid insurance
- Vacation pay
- Club memberships
Our Stockton community property attorneys will make sure to consider all assets during your divorce. This will help ensure you get a fair settlement.
What is breach of fiduciary duty?
Sometimes one spouse may engage in an activity that violates his or her fiduciary duties to the marital estate. For example, the spouse may have hidden income or removed money from a joint bank account. Our legal team will help uncover and address these issues in the divorce proceeding.
Can I speak to an attorney over the phone and ask specific questions about my case?
Yes. You can call us at (209) 323-5558 to speak with Attorney Gurjit Srai. He will answer your phone questions.
Contact an Experienced Stockton Community Property Attorney
Divorce issues, especially those involving community property, can be complicated under California law. An experienced divorce attorney in Stockton can make sure that your legal rights, especially those involving property settlement, are well protected. The legal team at the Srai Law Office knows that a divorce can take a big toll on your life and the lives of your children. We know that no two cases are the same. When assets in a divorce are significant or complex, it is important to have the right attorney on your side.
For more information or to schedule a complimentary consultation with one of our divorce attorneys, please call us at (209) 323-5558, or complete our online form.