Cupertino Property Division Lawyer

Cupertino Property Division Attorney

The division of marital assets and debts is an essential part of the divorce process. It can also be very stressful and complicated. Divorce is costly, and both parties want to protect their own financial interests. Property division is especially difficult when one or both spouses have high-value or complex assets. During a divorce, you need a Cupertino property division lawyer who can help you secure a fair division of assets and debts.

Why Do You Need an Attorney for Property Division?

How assets and debts are divided can significantly affect your financial stability after a divorce and in the future. You have to ensure that your rights are protected during this process.

Spouses who work without legal representation can end up with an unfair division of assets, even if they don’t intend to. Leaving the division up to the court without a legal advocate can result in you having no control over the assets that you receive. With a Cupertino property division attorney, you can advocate for your interests and get the financial support you need.

Hire a Property Division Lawyer at the Law Offices of Rod Firoozye

For 21 years, the Law Offices of Rod Firoozye have served Santa Clara County and worked solely in family law cases. We have significant experience in divorce and property division, particularly in complex cases or marriages with high-value assets. Our firm understands how emotionally and financially straining these cases can be. We can provide the guidance that you need and advocate for your rights.

If your property division case has to go to court, we can help you navigate local courts, such as the Superior Court of California for the County of Santa Clara.

Understanding the Types of Property in Cupertino

The median household income in Cupertino in 2021 was $199,778, and the median value of owner-occupied homes was more than $2 million. During a divorce, it is essential that you work to protect your wealth and financial future.

There are two types of property that must be considered during the division of property:

• Separate property. Separate property refers to the assets or debts that each spouse owned or owes individually prior to the date of marriage or acquired after the date of separation. It also includes any inheritance or gifts given to only one spouse during the marriage. If you used separate assets to purchase something, or your separate property earns more money, and this was during the marriage, this may be separate property.
• Community property. This includes any assets or debts acquired by a couple during their marriage. Money earned during marriage, and anything bought with that money, is considered community property.

Separate and community property are not entirely straightforward. They can turn into each other through intentional or accidental actions. For example, if spouses put their separate income into a shared bank account, it can become community property. Title chances and other actions can also change the character of the property. This is why it’s important to work with professionals who can determine how to categorize each asset and debt.

How Is Property Divided?

Spouses have equal claim to community property, but do not have a claim to the other’s separate property. If the division of property is handled by the court, each spouse keeps their separate property and receives an equal portion of the community property. Not all assets are divided 50/50, but the court will work to create as equal of a split as possible.

If you don’t want the court to decide the division of property, you have a lot more control. You and your spouse can determine property division in your separation agreement. A judge must still approve this division and provide a court order when you agree on the division, and will not agree to a division that is unconscionable.

FAQs

How Much Does a Property Division Lawyer Cost?

The cost of a property division lawyer varies, but they generally charge an hourly rate. The average rate for a family lawyer in California is $409 per hour, but this can vary based on factors such as an attorney’s experience and the location of their firm. Costs can also be affected by the specifics of your case. A more complex property division may have higher rates and will cost you more because it will likely take longer.

What Is the Division of Property Rule in California?

In California, the division of property rule is that the assets and debts a couple accrues during their marriage must be split equally. Property that is considered separate, or owned prior to the marriage, remains separate. However, this is the rule for when the division is decided by the court. If spouses want to reach a different property division outside of court, they can do so. However, it must still be approved by the court.

Who Loses the Most in a Divorce in California?

Ideally, neither party loses more in divorce in California, but this is not always the actual result. Some studies show that in the short term, men are more affected by subjective emotional measures, while in the long term, women see chronic financial losses like disproportionate income loss and an increased risk of poverty.

In a divorce, parties should work with a divorce lawyer to protect their interests and fight for a fair financial future.

What Is the Five-Year Rule in a California Divorce?

The five-year rule in a California divorce refers to one of the qualifications of securing a summary dissolution, which is a simpler way of separating than a divorce. There are other requirements, including having no children and not requesting spousal support. Each spouse must also have low-value assets and debts and agree on the division of property. It is important to discuss with an attorney if summary dissolution is in your interests.

Reach Out to a Skilled Cupertino Property Division Attorney Today

There can be several complex issues during the division of property process, especially when separate and community property is unclear, assets are complex, or you and your spouse can’t reach an agreement.

When you hire a property division lawyer in Cupertino, they can help the process go more smoothly. Contact the Law Offices of Rod Firoozye today to schedule a consultation with a Certified Family Law Specialist and see how we can make this case easier to handle.