Property Division Lawyers in Pasadena
Our Family Law Firm Protects Your Property Interests in a Divorce
Throughout a marriage, spouses accumulate shared property and debts that must be divided between them in a divorce. This property is either community property or, if out-of-state, may be quasi-community property. Secondly, spouses often have separate property accumulated before marriage or during marriage by gift or inheritance.
A hybrid category of property is called "mixed," and is property that is part community and part separate. Lastly, property is often held with third parties, such as business partners or family members. The division of all of these types of assets and debts may be a source of tension and emotional friction. In fact, such roadblocks as improper disclosures of information and failure to trace the sources of acquired property can make the divorce process lengthier, costlier, and more difficult.
Our divorce attorneys understand the stress and frustration that comes with dividing property and will be your advocates to protect your interests and facilitate negotiations or trial.
Why You Need Experienced Pasadena Divorce Attorneys
At Gille Law Group, our divorce lawyers have proven expertise in complex property division. We meticulously retrieve and catalogue documents, conduct discovery, issue necessary subpoenas, and confer with forensic accountants, witnesses and appraisers, all to resolve your disputed property claims.
Basic property and debts to be divided may include:
- Business holdings
- Real estate
- Intellectual property
- Stock portfolios and options
- Investment earnings
- Retirement accounts and pensions
- Bank accounts
- Credit card debt
- Personal or secured debts
- All types of valuable personal property
We will guide you and your accountants or agents through every step of the property-division process to ensure that you are able to reach an agreeable and efficient resolution or have the strongest case for trial.
Amicably Divided Assets
If you can bypass a contested divorce and avoid the stress and cost of court interference, you and your spouse may be able to negotiate a Marital Settlement Agreement that includes all property to be divided. Once all of the necessary documentation and analyses are completed, the property division often does not need to be tried in front of a judge.
If dividing assets in an uncontested divorce, the following measures should be taken:
- Take inventory of all your assets
- Be honest and transparent about your property
- Assign monetary value to each item
- Determine ownership where logical
- Mutually decide to sell certain assets and equally divide the proceeds
- Use definitive, neutral methods to divide remaining property, avoiding continued co-ownership
Of course, it is not always easy to remain amicable when determining who gets what property. If you and your spouse are unable to come to an agreement, as knowledgeable property attorneys we will prepare your case for lawyer-assisted negotiation after discovery is complete. If you still cannot settle, we will take the property portion of your divorce to trial where a judge will determine how your property will be divided based on California law and the evidence we collect during the discovery process.
Cases with Complex Assets
For complex cases involving a significant amount of assets, property disputes arise in a significant number of divorces, especially when property characterization is not clear. To determine whether property is separate, community, quasi-community, or mixed, each disputed property must be properly characterized and supported by evidence, for example, the source of funding, the validity of a transmutation or real property conveyance, business valuation, the long-term value of growing assets, the present value of deferred-sale real property, and deferred compensation such as pensions and other retirement plans. Our Pasadena family law attorneys will zealously advocate for your property interests through the final settlement or trial.
Assets in a complex property division hearing may include:
- Business assets held with third parties
- Income-producing property
- Stocks, stock options and investments
- Multiple streams of income
- Future bonus income and other deferred compensation
- Undisclosed properties or cash
- Assets with a value that is difficult to measure
- Tax liens
- Properties or accounts held outside of California
In cases involving these kinds of assets, our experienced attorneys will lead you with court-approved techniques to ensure that all property is accounted for and properly divided.
Put Our Experience on Your Side
At Gille Law Group, our team of legal professionals uses our financial experience to give you the advantage. We are dedicated to helping all of our clients reach favorable resolutions in their divorce proceedings. Our Pasadena divorce lawyers offer compassionate, but assertive, legal counsel that you can trust.
Call us today to schedule your initial consultation.