Complex Property Division Attorney In Poway, CA

If you are in the midst of a divorce, especially a high-asset divorce involving a lot of assets, the process of dividing property between you and your spouse may seem daunting. In the absence of a prenuptial agreement, it can be difficult to determine who gets what. If you are in the Poway area and need legal counsel, the first step is to reach out to an experienced Poway complex property division lawyer.

About Neumann Family Law, A.P.C.

At Neumann Family Law, A.P.C., we know divorce can be complicated and messy, but we have the knowledge and experience to guide you through it. Sara Neumann and Edward Castro are both Super Lawyers with 27 and 31 years of divorce litigation experience, respectively. They each work closely with their clients to mitigate the stress that comes with divorce proceedings. When we can settle, we do, but we are prepared to litigate when we cannot.

Individual vs. Community Property in California

Divorce is unfortunate but common. As of 2023, which is the most recent year with complete data, the divorce rate in the United States was 2.4 per 1,000 people. With divorce comes the sometimes complicated process of disentangling two lives, along with the money, property, and other assets involved in the joint estate.

During a divorce, assets are divided based on whether they are separate or community property. California is, in general, a community property state when it comes to marital assets. Section 760 of the California Family Code states that any property acquired by a married person while living in the state of California becomes community property. This means that both spouses have a legal right to the property and its value.

On the other hand, separate property is any property that one of the spouses owned before the marriage. According to Section 770 of the California Family Code, property acquired during marriage is also considered separate property if it was gifted or part of an inheritance. Such property remains under the full control of the spouse who received the gift or inheritance.

What Makes Property Division Complex in Poway?

While divorce proceedings nearly always have the potential to get messy, there are a number of factors and situations that can make the process of property division particularly difficult. One risk factor for this is simply having very diverse assets or assets of very high value. Only around 40% of high-net-worth couples have prenuptial agreements, meaning that more than half of couples with significant assets have no preset plan when they begin the divorce process.

The following are some examples of assets that can be very difficult to divide in divorce proceedings: 

• Businesses: It can be very difficult to determine how to value and divide a business. Some considerations include whether one spouse owned the business before getting married, the value of the business, and whether it is possible to split it without destroying it.
• Commingled property: Commingled property can become a problem when, for example, one spouse owned a home before the marriage, but after marriage, both spouses paid money toward the mortgage and jointly financed renovations or improvements.
• Retirement funds:. Pensions or deferred compensation packages can create complications in divorce proceedings.
• Debts: Some debts and liabilities are difficult to separate, particularly if there are questions about who is responsible for a debt or if there are large joint debts like tax liabilities.
• Interstate or international property: Because different states and countries have different rules for property division and valuation, interstate or international property can complicate divorce proceedings.

Hire a Complex Property Division Lawyer

If you are in the midst of a high-asset divorce or about to begin one, it is highly advisable to hire a complex property division lawyer in Poway to help you with the process of separating your assets. Choosing a lawyer with experience that goes beyond simple divorce cases can save you time, money, and stress. A good attorney can sometimes be the difference between an amicable, out-of-court settlement and a drawn-out litigation.

FAQs About Poway, CA Complex Property Division Laws

Where Are Divorce Hearings Held for Poway Residents?

In general, divorce hearings in California are handled by the Superior Court of California, and hearings are held at whichever courthouse serves the county in which the divorce was filed. For Poway residents, the majority of divorce hearings are held at the Central Courthouse in San Diego, located at 1100 Union Street. Occasionally, cases may be heard at other courthouses when there are scheduling or availability variations.

Can Spouses Decide to Convert Community Property Into Separate Property?

Yes, if spouses wish to convert a community asset into a separate asset, or vice versa, they are legally able to do so. This is called transmutation, and it must be documented in writing and signed by both spouses.

Is It Possible for My Spouse to Get Part of My Inheritance in a Divorce in California?

Technically, yes, it is possible for your spouse to get part of an inheritance if you divorce in California. Inheritances are usually considered separate property for the purposes of asset division. However, if inheritance money is commingled with community funds, and it becomes difficult to trace the origins of any of the funds, and either they exist or are used to purchase assets at the time of the dissolution, it may be impossible to fully protect the inheritance.

What if I Owned a Business Before Marriage, but My Spouse Contributed?

If you owned a business before you got married, but your spouse contributed resources to the business during the course of your marriage, they are probably entitled to some of the business value. This is a situation that can become complex very quickly, and forensic accounting may be necessary to decide what your spouse should receive.

Contact Neumann Family Law, A.P.C.

The process of divorce, and especially asset division, can be incredibly stressful and overwhelming, especially in high-asset cases. In these situations, you need a divorce attorney with specific experience in high-net-worth divorce litigation, and the attorneys at Neumann Family Law are ready to deliver. Contact us today to discuss your case.

*CFLS = Certified Family Law Specialist by the State Bar of California Board of Legal Specialization