San Bernardino Division of Property Attorney
Divorce and the division of property are two of the most difficult and stressful experiences one could ever have to go through. During such emotional times, it can be difficult to think rationally, or to act with sound judgment while dealing with so much inner conflict. It is critical, however, that you formulate a sound plan before you agree on who should have what. During the course of your marriage, you and your spouse accumulated both assets and liabilities together. It is important to know the full extent of both assets and liabilities, and it is also important to know what San Bernardino courts will deem as marital/community property and debts.
General Overview of the San Bernardino Division of Property Process
California is a community property state and San Bernardino courts approach division of property matters with careful consideration. The courts will attempt to divide all marital property and debts in a fair and equitable manner, 50-50. However, it should be noted that an absolute and equal division of every asset is not really practical or possible in many instances. This is because in order to achieve an equal division of every asset, each community asset would need to be sold and the proceeds divided. Naturally, this would not be beneficial with regard to certain assets such as a marital home. As a result, valuation of assets is one of the major points of contention between divorcing spouses.
As a general rule, community property and debts are split evenly between the two parties upon the dissolution of the marriage. When it comes to the division of property, courts deal with dividing all kinds of assets, including houses, timeshares, commercial real estate, stock options, retirement accounts, pensions, life insurance, businesses, cemetery plots, country club memberships, star or celebrity status, cash, jewelry and household furnishings. Just about everything you could imagine (even professional licenses) are under scrutiny when it comes to division of property matters. It seems that the only assets that tend not to be in dispute during division of property matters are those which were stipulated to in prenuptial agreements. A prenuptial agreement can protect certain assets that the parties owned prior to the marriage. However, prenuptial agreements can be set aside if clear proof of coercion, fraud, duress, undue influence, or other corresponding bad intent is presented.
Your San Bernardino Division of Property Attorney
When it comes to the division of property, there are many issues that have to be resolved. When complex assets, business interests, professional licenses, intricate personal investments, and tracing issues (as to the source of money that was used to acquire assets) are involved, it is always wise to have an experienced San Bernardino division of property attorney on your side. As a leading San Bernardino division of property attorney, Michael R. Young works with a number of professionals, including accountants and investigators, to insure that his clients' assets are protected and their goals attained.
With the help of such highly skilled professionals, San Bernardino division of property lawyer Michael R. Young can help you devise a result-oriented plan that will provide practical and effective solutions to your division of property matter. At the San Bernardino division of property lawyer office of Michael R. Young, it is our practice to combine both experience and compassion, as well as a desire to protect the rights of our clients, throughout the division of property process. For more information on how we can help you, contact us today for a free initial consultation.
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