Garden Grove Property Division Lawyer

Garden Grove Property Division Attorney

Divorces may not be easy, especially when property and money are involved. Your home, savings, retirement accounts, family heirlooms, and all the other assets you’ve worked so hard for over the years are not just numbers on a balance sheet. They’re the fruit of your labor and the foundation for your future. To protect them, you need a competent Garden Grove property division lawyer who will fight for what you deserve.

About Minyard Morris

At Minyard Morris, we have 20 attorneys with more than 350 years of combined experience. Our team offers substantial depth, which becomes particularly vital during sophisticated property division proceedings. At Minyard Morris, we hold multiple firm-wide case strategy meetings each week. These meetings, are designed so that every client receives the benefit of our team’s experience and creativity.

Understanding Property Division Laws in California

According to the CDC, there were 2,041,926 marriages in the United States. This equated to a marriage rate of 6.1 per 1,000 population. There were 672,502 divorces reported in the United States, and a divorce rate of 2.4 per 1,000 population and probably higher in Orange County.

California is a community property state. With few exceptions, property acquired during the marriage is presumed to be owned equally by the parties and will often be divided 50/50 by the court. The division of community property is often more complicated than it first appears.

The court must first determine whether the property is community or separate, then value it, and finally divide it. Common issues that complicate division include commingled assets, complex financial accounts, or disagreements over valuation, especially with significant assets like retirement accounts.

Community Property vs. Separate Property

Community property refers to property that belongs to both spouses. These are typically things that were acquired during the marriage, such as:

• Homes
• Rental property
• Businesses
• Furniture
• Jewelry
• Bank accounts and cryptocurrency
• Vehicles
• Debts

Separate property refers to items that were acquired either before the marriage or are under special circumstances that would be considered one person’s ownership. This includes:

• Special debts only one person acquired, such as illegal gambling debts or debts from an affair
• Property acquired before the marriage began
• Property received after separation
• Inheritances
• Gifts

In some cases, property is commingled, which may require professional insight to determine how to trace and divide it.

When Couples Cannot Agree

If the parties can’t agree on the property division, then a court will have to decide. In California, we have an equal division requirement with community property. The biggest issues are whether property is separate or community, the valuation of assets, and determining who is responsible for a certain debt.

Judges in Orange County, California overseeing property division cases will take evidence, listen to testimony, and make rulings based on the law. Without a good Garden Grove divorce lawyer, you could lose significant assets that should be awarded to you. Minyard Morris works passionately to make sure your property rights remain protected under court supervision.

What Happens to the Family Pet

Obviously, a pet cannot be split in two. Pets can become the subject of emotional disputes in divorce. In California, either or both spouses may request a judge to award ownership of a family pet. The court treats pets differently from other property, since they are living creatures.

Judges award sole ownership to one spouse, or they create joint custody arrangements. The goal is to consider the factors that are in the animal’s best interests. The court will review who provides for day-to-day care and access to veterinary treatment.

Why Hire a Property Division Lawyer?

Property division during divorce is almost never straightforward. Errors in this process can have serious financial repercussions for years to come. A lawyer makes sure your rights are fully protected. They ensure no asset, debt, or obligation falls through the cracks.

An experienced Garden Grove property division attorney knows California’s community property division laws inside and out. They are familiar with how local courts resolve common disputes, such as determining the value of a family business for division. A lawyer’s strategic advocacy helps at every stage of the process. When you hire a strategic property division lawyer, it fortifies your ability to achieve the most favorable results.

How Do I Calculate Home Buyout in Divorce?

A home buyout often means figuring out the value of the home, subtracting the mortgage or debt, and then figuring out each spouse’s share of the equity, and with one spouse paying the other for their share. Appraisals, taxes, and financing are involved and thus it is a good idea to get legal and financial advice during this process.

How Do I Divide Personal Property in a Divorce?

Personal property, such as furniture, jewelry, or household items, must first be determined to be community or separate property. Community property is divided equally. Separate property is retained by the original owner. If spouses cannot agree to the division of community property, the court will divide property equitably based on its value. Personal property items can maintain their high value through proper documentation of inventories, receipts, and appraisals.

Contact Minyard Morris

If you are going through a divorce, a property division attorney at Minyard Morris can help protect your assets. Contact us today to get started.