Newport Beach Property Division Attorneys

Community Property Vs. Separate Property

Some of the most challenging and complex financial disputes in California divorces involve one spouse's claim that certain assets are his or hers alone. Proving that this is the case—or, conversely, that the assets in question are community property subject to equitable division—often requires extensive research and accounting knowledge along with a full understanding of the applicable laws.

Generally speaking, California law requires treatment of all money and other assets acquired during a marriage as community property subject to equal property division in divorce. Money and property acquired by either spouse prior to the marriage, after legal separation or as a gift or inheritance is often considered separate property under the law.

Beyond these basic guidelines, there are a range of exceptions and extenuating factors that may pertain, especially if your marriage lasted many years or the disputed assets are complex ones such as business ownership interests, real estate, stock options, investment accounts and securities.

Our established and respected firm, focused exclusively on California family law, is a proven resource for people who have significant assets at stake. With decades of experience handling complex property division and ready access to skilled forensic accountants and other experts, our attorneys in Orange County are impeccably well-equipped to deal with your case requiring distinction of separate property from community property.

What Must Be Disclosed In Property Division?

Every divorce is a lawsuit, and California law requires both parties in a divorce to fully disclose all assets, debts and transactions to the other. Failure to fulfill these spousal fiduciary duties can have serious consequences for anyone who does not provide full disclosure, including costly financial penalties and court orders to pay the wronged spouse's attorney fees.

Financial disclosure as required in a California divorce can be a complex, detail-intensive process — especially for those with substantial assets that may include business interests and investment accounts.

Our lawyers' exclusive focus on family law, close connections to qualified financial professionals, and decades of experience in high net worth and intensely contested divorce cases equip us well to:

• Guide our clients through every step required by law, including thorough preparation of the necessary schedule of assets and debts, declaration of income and expenses and other documents.
• Obtain accurate valuations of known complex and fluctuating assets such as real estate, business holdings and investment accounts.
• Resolve whether specific assets are community property or separate property belonging to one party alone, based upon their sources and when they were acquired.
• Locate hidden assets or income if either spouse believes the rule of full disclosure is not being followed.

Schedule a Consultation With a Resourceful Lawyer: (949) 565-4158

If you have concerns involving financial disclosure in divorce, Certified Family Law Specialists at our firm can offer counsel based on in-depth knowledge of current laws and recent court decisions. We will be sensitive to all unique aspects of your case and work hard to achieve the best possible financial outcome for you.

We encourage you to turn to our firm with your concerns about dividing assets and debts in divorce.