Ensuring The Fair Division Of Marital Assets
When spouses decide to divorce, they must also unwind their estate. Asset and property division is often complex and can be fraught with bitterness over control of certain assets. The decisions you make regarding how to divide your joint assets and debts can significantly alter your individual long-term financial health.
Ensure fair treatment with help from the Law Offices of Robert Borsky. I have over 30 years of family law experience and am also certified by the California Board of Legal Specialization as a Family Law Specialist, indicative of my unique insight into the process and ability to find creative solutions.
California divorce law follows the community property standard, meaning the law presumes that both spouses equally own all assets and income acquired during the marriage. This applies even if only one spouse predominantly worked. The standard also applies to debt incurred during the marriage. Although both spouses are entitled to half of the marital estate, each spouse’s ability to attain financial independence and custody arrangements can affect the division of property. Also, asset division outlined in a valid marital agreement can supersede the state’s community property laws.
Dividing The Marital Home
As home prices and mortgages in the San Fernando Valley continue to reach record highs, the mortgage may be too much for one spouse to shoulder after a divorce. If neither spouse can afford to keep the home, selling the property may be the best option.
Before the sale, spouses need to agree on an asking price and the process for dividing profits from the sale. If you and your spouse are struggling to communicate amicably, discussions can quickly turn contentious. My firm can help you reach a fair agreement through mediation or collaboration. If property matters cannot be settled outside of court, I’m an effective litigator and will diligently fight on your behalf to protect your finances.
Untangle Your Co-Mingled Assets With My Help
I understand that personal attachment greatly impacts the asset and property division process. However, when sentimental value results in an impractical drawn-out legal battle, both spouses can suffer unnecessary financial losses. Avoid the endless arguments by letting an attorney help you untangle your co-mingled assets. To schedule an appointment at my Woodland Hills office, please email my firm or call 818-869-1016 today.