Complex Property Division Attorney In La Jolla Complex, CA
No divorce case is ever easy, especially not one where the couple shares a number of highly valued assets or properties. In California, when a couple seeks a divorce, their marital property is subject to an equal split. This can be an emotional process, whether you are determining who gets the Windansea Beach home or how a small business on Kline Street may be handled. An experienced La Jolla complex property division lawyer is here to help.
Hire the Competent Team at Neumann Family Law, A.P.C.
The senior attorneys at Neumann Family Law, A.P.C., have handled family law litigation with experience and compassion. We know that this is a difficult time for you and your loved ones, and we want to do whatever we can to seek the results you most desire. We are also proud to have Certified Family Law Specialists on our staff and are here to provide you with comprehensive family law support in La Jolla and across San Diego County.
Factors That Create Complex Property Division Divorces
California is a community property state, meaning that all marital property is deemed community property and each spouse owns an equal share of it. Separate property in a California divorce includes assets one spouse owned before marriage or acquired during marriage by gift or inheritance. In most cases, each spouse keeps their separate property, and it is not subject to division by the court.
The total divorce rate of the U.S. is 2.4 cases per 1,000 members of the population, and in La Jolla and the surrounding San Diego County, these cases are being filed every day. In La Jolla, where the average home price is around $2,343,961, property division can be complicated.
Other factors that contribute to complex property division include:
- Business ownership: When the couple owns a business together, or one of the spouses has established a small business during the marriage, this can be a complicated property to divide. It requires that the business be properly valued before it can be split. In certain situations, it may become necessary to sell the business and have the spouses simply split the proceeds of the sale.
- Pension and retirement accounts: Even if you believe that your pension belongs to only you, this is not the usual case in California. If the account was created during your marriage, then it can be treated like community property. The length of the marriage and the age of the spouses at the time of the divorce may factor into how the pension can be split between the divorcing couple.
- Multiple properties: Many couples involved in complex property diversions have claims to multiple real estate holdings. This can include the family home, a second home or vacation home, commercial or rental properties, and overseas real estate. It is essential to work with an experienced lawyer in complex property division cases.
Signs of Hidden Assets in Your La Jolla Divorce
In a complex property division, a spouse may feel more tempted to try to hide assets to prevent the other spouse from claiming part of them. In fact, 40% of couples admit to some form of financial infidelity, including the hiding of assets during a divorce. It is important to be aware of the signs of potential hidden assets so that your attorney can work to uncover the truth and bring these assets out into the open, thereby protecting your rights to fair division. These signs include:
- Changes in financial behavior or spending patterns
- Large monetary transfers to family and friends
- Sudden and unexplained transfers or missing forms of documentation
- Making sudden gifts to others without any prior communication
- Undisclosed business interests
- Offshore bank accounts or investments
- Sudden claims of financial loss
- Sudden paying down of debts
FAQs About La Jolla, CA Complex Property Division Laws
How Much Does It Cost to Hire a Complex Property Division Lawyer in La Jolla?
The costs involved when hiring a complex property division lawyer in La Jolla can ultimately depend on the factors and circumstances involved in your unique case. These factors can include the duration and complexity of your property division, the existence of any marital agreements in your divorce case, and the skill level and experience of your lawyer.
Can a Prenuptial or Postnuptial Agreement Affect Complex Property Division in California?
Yes, a prenuptial or postnuptial agreement can affect a complex property division in California. One in five couples in the United States has a prenuptial agreement in place, and these can have massive benefits for complex property division should the couple seek a divorce, including outlining how separate property can remain separate and how other assets may be treated.
What Counts as Separate Property in California?
In a complex property division case, it is important to be aware of what counts as separate property in a divorce in California. Separate property usually includes any assets that were acquired by either party prior to the marriage, any inheritances that were received individually by either spouse during the marriage, or any gifts that were designated to one of the spouses.
What Mistakes Should I Avoid Making in a Complex Property Division Divorce?
There are several mistakes that you should avoid making in a complex property division divorce in La Jolla. First, it is essential that you do not try to hide assets from your spouse. You also need to be aware of any potential tax implications and begin preparing for them before your divorce is finalized. Ignoring these tax implications could have devastating financial consequences.
Hire a Complex Property Division Lawyer Serving San Diego County
Not all family law attorneys bring the same level of experience to complicated divorce cases in San Diego County. When it comes time to hire a complex property division lawyer, turn to the senior attorneys at Neumann Family Law, A.P.C. We understand the importance of uncovering the truth in your complicated property and asset holdings and want to protect your rights no matter what. Contact us today to schedule a complimentary telephone consultation.
*CFLS = Certified Family Law Specialist by the State Bar of California Board of Legal Specialization
