Attorneys Helping You Divide Assets And Debts During Divorce
Dividing the assets and debts accumulated during a marriage can have significant consequences for both parties. Property like investments, IRAs, pensions, mortgages and loans must all be accounted for and divided. In addition, the physical possessions such as furniture, collectibles and other sentimental items must be split up.
This is an important time to have an experienced legal advocate on your side. Lauzon Paluch is a family law firm that works to protect our clients’ interests as they work through the divorce process. Our Los Angeles debt division attorneys have 47 years of combined experience and represent clients throughout the Southern California area.
While we handle cases involving marital estates of all sizes, we have extensive experience in divorces involving complex property issues such as valuation and division of businesses and professional practices, international property holdings, and other matters. Our firm has the experience, knowledge and resources needed to handle virtually any property division matter that arises.
Characterizing Property — Separate Or Community?
Each state has its own procedures for dividing property when two people divorce. California is considered a community property state. This means that anything acquired during the marriage (date of marriage to the date of separation) is presumed to be community property.
Separate property includes property acquired by each spouse prior to the marriage or by dividing assets in half or giving different assets of equal value. The key is to make the best tactical decisions possible. We can help you do that.
In some cases, the parties can reach a settlement without court involvement. California laws provide for an equal ownership interest in all community property. We are adept at devising creative strategies as to the division of community property, whether by dividing assets in half, giving different assets of equal value or a cash payment in exchange for a spouse’s community property interest in an asset. The key is to make the best tactical decisions possible. We can help you do that.
In other cases, litigation may be required. Whatever the situation is, it is best to have a lawyer on your side to protect your rights and pursue your objectives.