Orange County Property Division Lawyer
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Divorce is a serious step. Not only do you need to think through the relational repercussions you will face with your former spouse, children, and family members, but you must also consider the financial challenges.
Our Orange County property division lawyer has helped countless clients navigate their complex divorce cases and has ensured that their rights and interests have remained protected the entire time. Since 1981, we have exclusively focused on family law and divorce cases, helping us offer a superior level of legal services to our clients. Our team can carefully review your financial situation and help you get a step ahead for your divorce case.
What Is Community Property?
Couples going through the process of divorce must decide how they wish to divide their property, assets, and debts. California maintains that any property that a married couple accumulates during a marriage will be treated as community property. According to state laws, community property will be distributed equally between both spouses.
Separating Your Property in California
Divorce is one of the major legal decisions that you can make during your lifetime because it will force you to make tough decisions regarding the termination of your marriage and issues that affect your family. The burden of dividing your property, assets, debts, or other possessions with your former spouse can become an incredibly emotional process.
Obviously, there can be a lot of room for disagreement when it comes to equal distribution. In a perfect world, all couples would be able to agree on how to divide their assets and debts equally through the process of negotiation. Unfortunately, this is not always possible, and some couples can get caught up in heated arguments over minor issues, such as who gets to keep the furniture. Whether you can handle your own property distribution decision or will need the court to handle it for you, our property division lawyers in Orange County can help you during every step of the way.
Our firm can assist you with:
- Determining which property is communal or separate
- Determining the value of the community property
- Determining an agreeable way to divide the property
How Can You Prepare Your Finances For a Divorce?
Whether you or your spouse initiated the divorce, it is crucial that you get a step ahead by planning for financial circumstances. We understand that it can be challenging to balance the legal obstacles as well as the financial changes you will be facing, which is why we are here to help.
In order to be best prepare your finances, you should make sure to do the following:
- Close any joint accounts you have with your spouse
- Work towards establishing your own credit
- Keep all non-marital assets separate from the divorce
- Carefully review your financial holdings, such as stocks, 401k, and bank accounts
- Cancel (or freeze) any joint credit cards you have with your spouse
- Photograph or collect evidence of your assets
While these are just a few steps you can follow to protect your financial holdings leading up to a divorce, they can greatly minimize the amount of stress you may face.
If you would like more financial tips or counsel, be sure to contact our Orange County property division lawyers for insight.
Protect Your Separate Property in Orange County
Separate property is property that you purchased or exchanged on your own before marriage. Separate property can also include any type of property that you acquired by gift or inheritance during the marriage. Any property that you have accumulated before divorce but after the finalized date may also be considered separate property.
Dividing Marital Debt in California During Divorce
When you file for divorce, you will be required to divide all of your properties in a fair and "equitable" way. This involves both assets and liabilities. That's right. If your spouse has debt, you may have to take some of it with you when you part ways. It will depend on whether or not the debts were accumulated prior to the marriage.
Are You Responsible For His or Her Debt?
You may be responsible for your spouse's debt if:
- The debt was accumulated during the marriage
- The debt was accumulated prior to your date of separation
- The debt was accumulated in a joint account (sometimes separate accounts also apply.)
For example, if your spouse racked up thousands of dollars on a joint credit card, you may be stuck paying for half of those expenses as a result of the property division. On the other hand, if your spouse has student loans from prior to the marriage that are still not complete, you may be able to avoid shouldering that debt because it was collected pre-marriage.
Contact An Orange County Property Division Attorney For a Free Consultation!
Don't risk your property, rights, or interests. Most importantly, don't risk letting this distribution process turn into a contentious, retaliatory courtroom drama. Hire an Orange County property division attorney from our firm to help you through this legal process so that your family, future, and financial situation can remain completely protected from beginning to end.
Dealing with property division? Call The Law Offices of W. Douglas McKeague today and receive the personalized legal attention that you deserve!
"Doug ensured that my interests were protected, my integrity preserved. His warm, calm and professional demeanor instilled trust and confidence."
Doug ensured that my interests were protected, my integrity preserved. His warm, calm and professional demeanor instilled trust and confidence.- Lorre L.
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