San Francisco Community Property Division Lawyer
California is one of nine community property states. Community property plays a significant role in property distribution in actions for legal separation or marital dissolution, and the law governing community property is both intricate and complex. At the Schoenberg Family Law Group, P.C., we will ensure that your marital estate is properly classified, that your community property is divided in accordance with the law, and that your separate property interests are protected.Community property generally includes all of the assets and debts acquired by spouses during the marriage without consideration of the income or contributions of individual spouses. Separate property is property that belongs only to one spouse, including property brought into the marriage by that spouse, such as real estate, businesses, or pension and other retirement funds. Separate property also includes assets or debts acquired by one spouse individually during the marriage, such as inheritance, student loans, or property purchased during the marriage with funds from that spouse’s separate property.
California law provides that the community property is to be equally divided upon marital dissolution. However, exactly which assets and debts properly belong to the community, and which are separate property, is not always easily ascertainable and the process of properly classifying and dividing property can be very difficult. Over the course of a marriage, assets can become mixed. A separate asset may be used to acquire a portion of a community asset. Identifying and valuing community property can be hotly contested and may pose significant challenges in the division of assets and debts in marital dissolution or legal separation actions.
At the Schoenberg Family Law Group, P.C., we have achieved equitable property settlements for a substantial number of clients whose marital estates spanned from simple to complex. We handle divorces involving complex financial issues and extensive marital assets as well as more straightforward divorce matters. We have extensive experience in litigating property division issues pertaining to complex marital estates.
Our expertise in dividing marital estates provides our clients with the diligence and foresight necessary to aggressively and thoroughly discover your community estate while protecting separate property interests. It is very important to have the adequate assistance of counsel in dividing your marital estate. This is particularly true for clients with significant individual and marital investments and debt, including:
- Investment assets, stock portfolios and/or trusts
- Pensions and retirement accounts
- Stock options
- Family-owned businesses and closely held corporations
- Significant business or corporate interests
- Professional practice interests, inventory, and investments
- High-value homes
- Multiple real properties
- IRS tax debt
- Credit card debt
Classification of property as community or separate and the division of the community estate is decided by the court during the legal separation or marital dissolution trial. Accordingly, seasoned counsel is necessary to ensure that all assets are discovered and properly characterized. However, if the respective parties to a marital dissolution or legal separation are able to agree on the classification and division of their property (real and personal), the parties may enter into a property settlement agreement and submit the agreement to the court for approval.
Because the Schoenberg Family Law Group, P.C., focuses exclusively on family law matters and has extensive experience litigating divorce cases, drafting marital agreements and handling divorce and property settlements, we have the competence you need to ensure that your marital estate is properly divided. We thoroughly and meticulously conduct the discovery necessary to obtain a comprehensive picture of our clients’ marital estates, ensuring proper classification of the community and separate property. We work with professional appraisers, accountants, and other financial experts to ensure proper valuation of our clients’ marital assets. We also work diligently with our clients to ensure that proposals for property division are fair and equitable.
The Schoenberg Family Law Group, P.C., offers the San Francisco area accomplished and dedicated legal representation to help you navigate property and pension distribution issues in anticipation of your family law trial and prepare a settlement agreement for your marital dissolution.