Property Division in Oakland Divorces: What You Should Know
Introduction
California is a community property state, meaning marital assets and debts are typically divided equally.
Identifying Community vs. Separate Property
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Community Property: Assets acquired during the marriage.
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Separate Property: Assets owned before marriage or acquired by gift/inheritance.
Valuing Marital Assets
Accurate valuation of real estate, retirement accounts, and business interests is crucial.
Dividing Debts Fairly
Debts incurred during the marriage are usually split equally unless otherwise agreed.
Complex Property Issues
Complexities arise with:
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Commingled assets
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Business ownership
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Stock options and bonuses
Legal Support During Division
An Oakland Family Law Attorney can protect your property rights and ensure an equitable division. Consulting an Oakland Family Law Attorney simplifies complex financial negotiations.
