Santa Clara Asset Division Lawyer

Expert Santa Clara Asset Division Attorney

Asset division is often one of the most contentious aspects of a divorce. Maybe you are a high-net-worth individual with complex assets to divide. Perhaps you are someone who has a vested interest in maintaining ownership of specific pieces of property. In either scenario, a Santa Clara asset division lawyer can help you meet your goals.

Trust the Law Offices of Rod Firoozye

Here at the Law Offices of Rod Firoozye, we have been focused exclusively on handling family law matters since 2004. In that time, we’ve developed a clear understanding of how to leverage asset division laws to get our clients the results they are looking for, such as when resolving complex disputes involving community property and debts. We can help you, too. Reach out to discuss the specifics of your asset division case today.

Why Hire an Asset Division Lawyer?

The median property value in Santa Clara is $1.58 million, and that covers only the average value of one type of property commonly divided during divorces. Dividing other complex assets, like businesses, personal items, and executive compensation packages, can be equally contentious. You can hire an asset division lawyer to pursue your fair share of the marital property so you can retain ownership of important assets.

Your asset division attorney can handle various tasks on your behalf, such as:

• Filing paperwork
• Requesting disclosures
• Hiring forensic accountants and business valuation professionals, who can assist you with fairly categorizing and identifying the value of essential assets

These professionals form essential parts of the team required to fairly divide marital property according to California asset division laws.

What’s Considered Community Property?

California is a community property state, which means that all the assets and debts accumulated during a marriage must be split evenly unless there are provisions in place that contravene that requirement. Property that is divided in a divorce can include:

• Primary homes and other real property
• Bank accounts and investment accounts
• Business interests
• Pensions and other retirement benefits
• Household items and vehicles
• Life insurance policies
• Lottery winnings

The title of the property isn’t necessarily the relevant determining factor. You could place an asset, such as a bank account you’ve made deposits into during the marriage, in your name alone, but that won’t qualify it as separate property free from the state’s equal division laws.

Separate vs. Community Property

Separate property includes:

• Assets held before the marriage or after the official date of separation
• Gifts
• Inheritances
• Assets that are agreed upon as being separate in valid prenuptial or postnuptial agreements

There are some circumstances under which separate property can become marital property. This happens when the two are commingled.

Suppose, for example, that a spouse has money in a separate account. These funds were accumulated before the marriage. However, the spouse uses that money to make a down payment on a marital home. In that case, the equity in that home could still be considered marital property.

Spouses can also make contributions using separate property that increase the value of the other spouse’s separate property. This would be the case if one spouse owned a home before getting married, but the couple used community funds to make improvements to it. The home may still be considered the first spouse’s property, but both people might be entitled to some of the increase in equity attributable to the improvements made with marital funds.

How to Resolve Property Division Disputes

In most cases, property division disputes can be resolved through mediation. This allows both spouses to avoid the expense and time of a courtroom trial at the Family Justice Center Courthouse in Santa Clara. However, contested divorces must be resolved by a judge, which can lead to added legal expenses. We can push to resolve asset division issues through mediation; however, if that’s not possible, we’re fully prepared to litigate an asset division case in court.

FAQs

How Much Does an Asset Division Lawyer Cost?

How much an asset division lawyer costs depends on factors such as the lawyer’s experience level and the complexity of the case. If you have many complex assets that require division, it could take longer to resolve your case, which could lead to higher legal fees. To get an idea of how much your case might cost, contact our office to schedule a consultation with a Santa Clara asset division attorney.

Can You Divide Assets Without a Lawyer?

You can divide assets without a lawyer, as it is legal to represent yourself in any divorce proceeding, but it’s highly inadvisable. Having a skilled attorney on your side is the most effective way to protect your rights and interests during your divorce. They can use their full knowledge of the law to advocate for your fair share of the community property.

Can My Wife Take Half My Savings in a Divorce?

Whether your wife can take half your savings in a divorce depends on whether any portion of those savings is considered separate property. Separate property is accumulated before a marriage begins or after your official date of separation. It also includes any gifts made exclusively to one spouse and any inheritances, so long as the funds have not been commingled with marital property.

What Is the 50/50 Rule in California?

The 50/50 rule in California is outlined in California Family Code Section 2550. It dictates that property accumulated over the course of a marriage should be divided evenly between the two spouses in a 50/50 split. However, you don’t have to split every asset down the middle. You can work with your spouse to determine a fair division of property that allows you to keep assets that are important to you. For instance, you could offset them with other funds.

Your Santa Clara Asset Division Lawyer

If you’re looking for a skilled Santa Clara asset division lawyer, look no further than the Law Offices of Rod Firoozye. Our team has decades of experience in handling family law matters, including many complex asset division cases. Rod Firoozye, our lead attorney, is a Certified Family Law Specialist with a commitment to finding favorable results for his clients. Our firm can handle your case through negotiations or mediation, and we have extensive courtroom experience.

Contact us to schedule an initial consultation today.

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