Things You Should Know about Asset Division

It seems straight forward that you would divide everything you have in half when you divorce.  But, sometimes, things may not be that simple.  Common issues in a San Jose divorce are figuring out how to divide a house, a businesses, a pension plan, stock options, and a property located in a foreign country.  You already know that California is a community property state. But, California also recognizes separate property interests.   Understanding the difference between community property and separate property can mean the difference between making smart decisions and a financial ruin.

Here are some examples of when community property and separate property interests come into play.  You and your spouse buy a house together.  Your parents give you money and you use it for the down payment.  Can you get this money reimbursed to you?  You bought your house before you got married.  Your spouse moved in and you paid the mortgage from your earnings.  The house also grew in value. Does your spouse get anything, and if so, how much?  You bought your house before you got married and, a few years later, you put your spouse on title.  Will your house now be divided 50/50?  You and your spouse bought a house (or acquired an asset) together with other family members.  How will this asset be divided?  You had an account before you got married and you started putting money into that account during the marriage. How will the money in your account be divided?

Because each family’s assets are different, a San Jose asset division lawyer can tell you how the California law applies to your case.  A San Jose asset division lawyer can ensure that your interests are protected.  If you have questions about asset division and wish to set up a meeting, call my office at (408) 351-1204 or get in touch by telling me about your issue through the online contact form.

Written by Ekaterina Berman, a San Jose divorce and family immigration lawyer. My goal is to provide experienced and caring representation in family law matters to every client.