Diligent San Diego Attorneys Skilled in Family Law Matters
Dealing with divorce is never easy, but the process can become even more stressful when there are many high-value assets at stake. When you are in this situation, it is advisable to seek the guidance of a qualified family law lawyer who understands the nuances of this area. At the San Diego firm of Jenkins P.C., we have years of experience when it comes to identifying, valuing and dividing assets. We will zealously pursue all of the legal rights and benefits you are entitled to under California law.
Dividing Assets When a Marriage Ends
A high asset divorce is when a couple with extremely valuable property decides to part ways. Some of its defining features may include significant income or savings, high net worth investments, valuable real property, significant business interests, substantial inheritance, professional practices, vested and unvested stock options, bonuses, or retirement pensions.
These proceedings can be complex because the assets must be identified, valued accurately, and then divided equitably. Depending on your particular situation, you may need the assistance of highly qualified appraisers, business valuation experts, accountants, and other professionals. Spousal support and child support issues also become even more complicated in these situations. A court will examine the role of and contributions by each spouse when it comes to the acquisition of a certain asset as it attempts to divide its value.
California is a community property state, which means that any income, assets, and debt acquired over the course of the marriage will be divided evenly between the spouses at the time of a divorce. Community property consists of most assets that are acquired after the date of the marriage but before the date of the divorce. This contrasts with separate property, which comprises assets that were acquired by either spouse before the marriage or after the divorce, in addition to gifts or inheritances that one of the spouses received individually during the marriage. It also includes rents or profits derived from separate property. These assets remain the exclusive property of the spouse who owns them, rather than being subject to division during divorce proceedings.
When separate property is commingled with community property, the assumption is that it becomes community property unless the spouse arguing that it is separate property can prove otherwise. Determining whether an asset is separate or community property can be challenging, so it is useful to consult an attorney who can adequately protect your interests.
Consult a Divorce Lawyer Experienced in Serving San Diego Residents
The divorce attorneys at Jenkins P.C. are committed to assisting individuals throughout San Diego and neighboring communities through difficult times in their lives. Property division issues can often be complex and contentious. We aim to preserve harmony between spouses during this time and keep the entire process as smooth, efficient, and anxiety-free as possible. We proudly represent clients from towns such as Cardiff, Carlsbad, Del Mar, Poway and La Jolla. To learn more about your legal rights and options, feel free to give us a call to arrange an initial consultation with one of our attorneys. We can be reached at 858-314-2400.