Orange County Property Settlement Attorneys
During the process of divorce, a number of issues will be raised regarding the marital estate, including all property and real property. If you are going through a divorce, do not hesitate to contact an experienced property settlement lawyer in Orange County who can help protect your property and will develop a fair way to divide the property.
Property Settlements in California
The main piece and issue of every divorce concerns the marital property. California is a community property state and therefore has three different types of property: community property, quasi community property, and separate property. Classification of all types of property will determine whether it can be divided in divorce and how it will be divided.
A marriage settlement agreement like a prenuptial agreement and postnuptial agreement will contain all terms of property division and property settlement. Property settlement agreements are often difficult to draft and to get both spouses to agree upon due to the nature of the property at stake. All property must be individually valued, which can be a difficult task for certain types of property. Property is often difficult to value, especially if it had sentimental value or was an antique and therefore not easily able to sell on the market for a set value. Other times, property that is easily valued (such as a house or jointly owned stocks), can simply be sold and divided based on the profits, or one half of the total cost may be purchased by one spouse. It is important to disclose all property during divorce settlements – any property which is not made a distinct part of a divorce can later be discovered and claimed by the other spouse.
Property additionally includes all types of debt acquired during the marriage, such as student loans, mortgages, and credit card debt. All debt acquired during the marriage will be considered community property and therefore both spouses will be liable for the total amount. However, certain exceptions apply, such as debt from student loans or debts to support family from another relationship.
Orange County property settlement attorneys can be an invaluable resource during property divisions and property settlement agreements since most divorce law attorneys in Orange County have experts they can call to assist in valuing any property in dispute. Expert witnesses are often vital in property settlement cases because they have not only been parties to numerous divorce cases, but are also aware of the market value of a variety of common marital interests. Property settlements are difficult to modify at a later date, so it is important to determine the accurate value of all property during the divorce settlement. You do not want to pay too much or receive too little on property which was worth much more.
Free Initial Legal Consultation Orange County Property Settlement Attorney
If you are going through a divorce that involves property division and property settlement agreements, contact the experienced attorneys of Boyd Law. Our attorneys understand that divorce settlements are difficult to get through, both emotionally and financially, and will assist you each step of the way in protecting your assets and your family. Contact our team of experienced OC property settlement lawyers at our Orange County office today for your initial free consultation. The Boyd Law firm office in Orange County has a team of some of the more successful and experienced Orange County family lawyers with a track record of successful case results and positive client testimonials.