Trusted Asset Division Attorney in Hollywood Hills, CA
Choosing how to divide you and your spouse’s assets and debts during a divorce is one of the most impactful decisions you can make for your future. Without a fair, comprehensive division strategy, you can be left with unfair financial burdens or without the assets you need to support yourself. A Hollywood Hills asset division lawyer can help you make these important decisions so you can be financially stable after a divorce.
Hire an Asset Division Lawyer You Can Trust
Kramer & Zitser, LLP, is a partnership of two senior attorneys with over 50 years of combined experience. We have spent decades helping spouses identify a property division strategy that protects their financial interests, helping them move forward after a divorce without unnecessary financial stress.
Our team has received several awards due to our commitment to supportive, strategic guidance. Ms. Zitser is recognized as a Super Lawyer from 2015 through 2026, has been named as a Top Family Lawyer of 2025 by The Daily Journal, and has earned the rank of AV Preeminent, the highest peer-rated rank by Martindale-Hubbell. However, awards and recognitions are not guarantees of future results. Selection criteria vary by organization.
California’s Asset Division Laws
In Los Angeles County, 7% of men and 9% of women are divorced, meaning thousands have undergone the property division process. California has strict laws that govern how assets are divided.
California is a community property state, which means that assets acquired during the marriage, known as community property, are divided equally between spouses during an asset division case. Even assets that were only used by one spouse or that were acquired through one spouse’s employment can be community property if they were owned during the marriage.
However, asset division laws do allow certain assets to avoid division during an asset division case. These assets are called separate property. Separate property includes assets that were owned before the marriage, inheritances, and gifts to one spouse. A Hollywood Hills asset division attorney can help you identify which assets are separate and community property.
Types of Assets That Must Be Divided During a Divorce
During a divorce, all of your assets must be considered. A Hollywood Hills Asset division lawyer can help you identify all your assets, then they can determine which ones are subject to division and which remain your separate property.
Every asset division case involves unique types of property, which impact the property division strategy. However, some of the most common assets that must be considered during a divorce include:
- Financial accounts. Checking accounts, savings accounts, investment portfolios, and other financial accounts may be divided during a divorce.
- Real estate. In Hollywood Hills, the average home value is $1,952,724, which can be even higher in neighborhoods such as The Bird Streets or Whitley Heights. When choosing how to divide real estate, many spouses decide that one spouse keeps the house while the other keeps other assets of equal value, or to sell the home and split the earnings.
- Retirement accounts. Retirement savings, including IRAs, 401(k)s, and pensions, are one of the most important assets to consider because they can impact your long-term financial strategy. 56% of married Americans say that getting a divorce would disrupt their retirement strategy.
- Business assets. Businesses and related assets can be difficult to divide because they are difficult to value and have the potential to generate future income. Many spouses use a buyout, offset the value of the business with other property, sell the business, or pursue co-ownership. The right choice for you depends on the type of business and your long-term goals.
- Personal property. Property such as cars, jewelry, artwork, furniture, or collectibles carries both financial and emotional value, which can make division difficult. A lawyer can help you divide these so that both spouses receive a fair share of property while still taking into account the personal attachment to certain items.
FAQs
What Assets Cannot Be Touched in a Divorce?
Assets that cannot be touched in a divorce include inheritances, personal gifts, property acquired after separation, and property acquired before the marriage. These types of assets are separate property and remain under the sole ownership of one spouse. However, this is not always this simple. Actions such as contributing to separate accounts with marital assets or commingling separate and marital assets may result in separate property becoming community property.
Are Assets Always Split 50/50 in a Divorce in California?
Because California is a community property state, assets are split equally between spouses in a divorce. However, this does not mean that all assets are divided or that there are no exceptions. Separate property is not split in a divorce. Additionally, you may have an exception to the 50/50 guideline if you have a prenuptial or postnuptial agreement, or if one spouse mishandles finances, such as by wasting community assets or hiding assets.
Can You Divide Assets Without a Lawyer?
Yes, it is possible to divide assets without a lawyer. However, this puts you at risk of agreeing to an unfair division plan, overlooking long-term consequences, or missing significant tax burdens.
For many couples, it is worth it to hire an asset division lawyer who can identify and value all assets, explore different division strategies, and draft a comprehensive and fair agreement. Legal guidance is especially crucial in cases involving high-value assets, complex assets, or when you suspect hidden assets.
How Does Having a Prenup Impact an Asset Division Case?
A valid prenup can significantly affect an asset division case by outlining how property is divided in a divorce. A prenup may identify separate property or establish rules for dividing certain assets. Having a prenup can provide alternative instructions that you and your spouse can follow during the property division process, meaning you are not required to follow the standard procedures outlined in California’s asset division laws.
Work With a Hollywood Hills Asset Division Attorney Who Can Protect Your Financial Future
Asset division is one of the most important aspects of a divorce because it impacts where you live, what property you have access to, your immediate financial stability, and your long-term retirement and savings plans. By working with a skilled lawyer from Kramer & Zitser, LLP, you can make informed decisions about your assets so that you are set up for success after a divorce. Contact us today to set up a consultation.
