ASSET DIVISION
Ventura Asset Division Attorneys
Asset Division - Ventura
County Attorneys
A fundamental aspect of any divorce is the necessary distribution of
property. In California, everything that was earned, purchased or acquired
from the date of marriage until the date of separation is considered "community
property," belonging to the marital estate.
Contact us at the law offices of Cho & Brown to schedule a consultation
to discuss asset division and your California divorce. We are honest,
efficient and cost-effective as we counsel and represent divorcing
individuals.
For experienced counsel and representation concerning equitable distribution of assets in a California divorce, call our law firm at (805) 644-8893. Cho & Brown welcomes inquiries from interested individuals in or near Ventura, Oxnard, Camarillo, Ojai or Port Hueneme.
An important starting place in a divorce is to do an inventory of all
marital assets including the following:
- Real estate
- Vehicles
- Household goods
- Retirement accounts
- Stocks and bonds
- Income earned by each spouse
- Most accounts (savings accounts, with the exception of accounts that a
spouse brought into a marriage and never commingled with marital estate
funds)
Just as most property earned or purchased during the marriage is community
property, most debt incurred during the marriage is community debt.
Property and Debt Division: Retirement Accounts
Normally, family courts expect that both property and debts will be split
50-50. The portions of retirement accounts that were acquired during the
marriage are likewise usually split 50-50. A determination of the exact
amounts involved is contained in a QDRO (qualified domestic retirement
order). According to the stipulations of a QDRO, a separate account is
usually generated for the non-employee divorcing spouse with half of the
marital retirement funds that are split.
Stocks and Bonds
Couples are free to negotiate their own agreements regarding asset division.
This many mean, for example, that rather than split up stocks or retirement
accounts, one spouse will keep the marital home and the other with retain
the undivided stock portfolio or retirement pension.
Settlement Negotiations ◦ Mediation
In fact, our lawyers strongly encourage our clients to resolve property
division through informal negotiations or mediation. Advice from tax accountants
and other professionals often helps couples reach agreements that both
consider fair and reasonable.
Contact an attorney at Cho & Brown to discuss your particular concerns including business ownership, vacation homes and other assets that are best left undivided.
