Division of Property
Orange County ◦ Riverside County Division of Property Attorney
Division of property is perhaps the most fundamental aspect of every divorce. A final divorce decree must detail who receives ownership of the house, the car, the boat, the vacation home, stocks and bank accounts and retirement funds.
Discuss your property division concerns with an experienced divorce lawyer. Contact The Maggio Law Firm.
Equitable Distribution of Assets
Although California is a community property state, other factors such as the length of the marriage, assets that each spouse brought into the marriage and well as any community property obtained jointly during the marriage, must be considered in order to accomplish a proper distribution of assets .
Full Financial Disclosure
Divorce means full financial disclosure — under penalty of perjury — of the assets owned by each spouse. Property division may be more complex in some cases than others. When, for example, either or both spouses own a business, a formal business valuation is crucial. The Maggio Law Firm works with forensic accountants to obtain an accurate and complete financial picture.
Once a full financial accounting is completed, the parties may negotiate. The one thing that most divorcing couples must understand is that, aside from money, their marital property cannot be literally cut in half. For some types of assets, one person may take sole ownership of one piece of property in exchange for other assets of similar value, such as stocks, pensions or retirement accounts in order to accomplish an equalization of assets and debts.
A Level-Headed Approach
The Maggio Law Firm deals with some clients who wish to relinquish everything to get a divorce quickly. We are a valuable, level-headed ally and advocate who will advise you on ways to protect your rights while trying to work out a fair and expeditious divorce settlement.
A Customized Solution Takes into Account the Unique Aspects of a Family
In property division matters, a customized solution accounts for the unique aspects of a particular marriage and divorce. This is a worthwhile goal to achieve. To discuss division of property and marital debt in your California divorce, contact The Maggio Law Firm.
Divorce can be a difficult and complicated process, and The Maggio Law Firm is experienced in all aspects of divorce and family law matters, including child custody, child support, spousal support, complicated high asset marital property cases, and domestic partnerships.
We can guide you through the process with professionalism and aggressive representation, because we know that divorce and child custody is one of the most stressful and agonizing events in your life and you should always have competent legal representation during those times.By Gerald Maggio