Asset Division Attorney In Manhattan Beach, CA
Manhattan Beach offers beautiful beaches and a welcoming community in the South Bay area of Los Angeles County. When married couples in the area decide to divorce, one of the most contentious issues that must be resolved in every divorce is asset division. It’s understandable to have concerns about your financial future and how divorce will affect it, and a Manhattan Beach asset division lawyer can be an invaluable asset as your case unfolds.
Experienced Legal Counsel for Asset Division in Manhattan Beach, CA
Kramer & Zitser, LLP, has more than 50 combined years of experience providing effective family law counsel to clients in Manhattan Beach and the surrounding communities of California. We understand that you have many financial worries about your impending divorce, and California’s asset division laws for divorce can seem overbearing. Our team will help you make sense of your legal options and provide ongoing support through every stage of your case.
The divorce rate in California was the seventh lowest in the nation in 2022, according to a study from US News, with a rate of 5.88 per 1,000 married women. In every California divorce, the spouses are not only ending their marriage contract but also resolving property ownership rights over the shared marital property they control. They also each have the right to claim separate property.
Our Manhattan Beach divorce lawyers can help you navigate all of the complex financial aspects of your divorce. We can help you determine whether a prenuptial agreement you have in place could be enforceable and how it could influence the outcome of your divorce if so. We can also help you complete the financial disclosure statement to ensure a fair and accurate division of property under California’s community property law.
Understanding Property Division in Your Manhattan Beach Divorce
California is one of the few states that enforces a community property law for asset division in divorce. Under this rule, each spouse receives exactly half of all community property in their divorce, and community property can include anything acquired by either or both spouses during their marriage. This rule not only applies to assets but also to debts.
Each spouse has the right to claim separate ownership rights over certain pieces of property. These will usually include property that a spouse owned prior to marriage, gifts given only to them, and anything they inherited from parents or other blood relatives. If you intend to establish any separate property ownership claims, you must be ready to provide documentation showing how and when you acquired the separate property.
Under certain conditions, some pieces of separate property can transmute into community property. For example, a house owned prior to marriage could be considered community property if the other spouse contributed to maintaining the house and/or improving its property value during the marriage. The financial disclosure process is essential for an accurate characterization of all the separate and community property involved in the divorce.
It is vital to be complete and accurate with your financial disclosure statement. Any errors or omissions could not only delay your divorce proceedings but also potentially lead to legal penalties. Additionally, you need to ensure accuracy with financial disclosure for your own interests. You need to hire a Manhattan Beach asset division attorney to help you resolve this difficult aspect of your divorce.
The team at Kramer & Zitser, LLP, has the experience, resources, and skills necessary to resolve the most contentious asset division disputes in Manhattan Beach. You can rely on us to help you file your financial disclosure statement with complete accuracy, and we can also help you resolve any disputes that may arise if you suspect hidden assets or any type of dishonesty from your spouse. Reach out to us today so we can get started working on your case.
FAQs
What Qualifies as Community Property in a California Divorce?
Community property in a California divorce can include any income earned by either spouse during their marriage, any assets or liabilities held in joint ownership, and any property acquired by either or both spouses during their marriage. Financial disclosure is an important part of any California divorce, and during this process, all community property and each spouse’s separate property will be defined before assets are divided.
Are Debts Shared in a California Divorce?
In a California divorce, debts can be shared just like assets and are defined as either separate or community property depending on various details. For example, debt incurred by both spouses or by either spouse during their marriage will typically qualify as community property unless one spouse incurred a debt without the knowledge or consent of the other spouse. Some debts may remain one spouse’s separate property depending on how and when they were acquired.
Why Should I Hire an Asset Division Lawyer?
You should hire an asset division lawyer to manage the most complex financial aspects of your divorce for you. Asset division in any divorce can be a contentious issue that could raise various disputes. When you have legal representation on your side, you can approach this process with greater confidence and have peace of mind knowing you’re likely to reach a favorable outcome.
What Does It Cost to Hire a Manhattan Beach Asset Division Lawyer?
The cost to hire a Manhattan Beach asset division lawyer typically depends on how much time they must spend working on your case. Most family law attorneys throughout California charge clients by the hour and track how much time they spend working on a case. Make sure you fully understand your chosen attorney’s billing policy, so you know what to expect in terms of your legal expenses.
The senior attorneys at Kramer & Zitser, LLP, have years of proven experience helping our clients navigate some of the most challenging divorce cases in California, and we know how contentious asset division can be for any divorcing couple. Our firm is confident we can help you reach a fair and reasonable outcome in this aspect of your divorce, so contact us today and schedule a consultation with a Manhattan Beach asset division lawyer to learn how we can help.
