Riverside Property Division Lawyer

California is one of nine US states that uphold community property laws. While this law strives to ensure fairness in property division proceedings, the reality is that California’s community property statute removes any degree of control a divorcing couple might have over the outcome of their property division determination when they litigate their divorce. Community property law requires divorcing spouses to split all of their marital property evenly. The spouses have the right to retain their respective separate property but determining separate property ownership rights is more difficult than it may initially seem in some cases.

“Separate” property refers to anything that belongs solely to one spouse, such as property they owned before marriage, inheritance, and gifts they received during the marriage. “Marital” property refers to any assets and property acquired by the couple during their marriage. This generally includes income earned by both spouses, property purchased in both the spouses’ names, and any separate property that has transmuted to marital property.

The legal concept of “transmutation” applies when separate property becomes marital property under certain conditions. Typically, this statute applies when one spouse’s efforts or financial contributions improve the value of the other spouse’s separate property or allows them to maintain ownership of the property.

Another of the most important aspects of divorce is financial disclosure. The divorcing spouses must provide complete records of all their property and assets. They must prove when they acquired their assets, their total values, and any beneficiary designations attached to specific assets. While completing your financial disclosure may sound like a straightforward process, the reality is that gathering all the documentation you will need to fulfill your financial disclosure obligations under California state law can be more complicated than you might expect. Your attorney will help you gather your financial records and provide a complete and accurate financial disclosure.

You must understand the importance of honesty when it comes to your financial disclosure. You may not relish the thought of dividing your property with your spouse in a divorce, but if you attempt to hide assets, you could face severe legal penalties. If you suspect that your spouse has hidden assets, consult your Riverside property division lawyer about your concerns. They may arrange for a forensic accountant or another expert to examine the financial records to ensure they are complete and accurate.

Many people choose divorce mediation simply for the privacy it provides in divorce proceedings. When you litigate your divorce, everything said in court enters public record, and virtually anyone can look up transcripts of a case to see what was said. Mediation, on the other hand, is entirely private. The record of your divorce will be public record, but all your negotiations during mediation sessions remain confidential. Mediation also tends to be much faster than litigation, saving spouses time and money on legal fees.

If you and your spouse are willing to negotiate, it is possible to reach a more personalized outcome to your property division determination in mediation. For example, if you litigate your divorce, the judge may require you to sell your marital home and split the proceeds. If one of you wants the house, but the other is indifferent, mediation could allow you to effectively “trade” other marital property to avoid the hassle of selling the house.

It’s important to remember that California’s community property statute requires divorcing spouses to divide their marital property and debts evenly. Mediation allows you and your spouse to customize your property division settlement in a way that works best for you. Additionally, if you and your spouse cannot settle every aspect of your divorce through mediation, you can still cover as many issues as you can before moving to divorce litigation to settle the remaining issues.