Orange County Division of Assets Lawyer
Whether it’s in California or anywhere else, going through a divorce is never easy, and the procedure is almost always exceedingly complicated. If you are divorcing or if you are anticipating a divorce in the state of California, you will want to be treated fairly in the divorce process, and the final terms of the divorce, including the property division agreement, must meet your needs for the future. The fair and equitable division of marital assets is imperative for the proper dissolution of a marriage, but in many cases in California, arriving at a fair and equitable division of marital assets–also known as community property–can be quite a complex challenge. The Bayati Law Group can help.
The Bayati Law Group aggressively defends the rights of our divorce clients, and we will insist on the full disclosure and the accurate valuation of all marital assets. Marital assets can take many forms including but not limited to:
- Real estate
- Bank accounts and cash
- Retirement accounts, IRAs, and 401Ks
- Stocks and bonds
- Automobiles and other vehicles
- Pensions, SSDI benefits, and lawsuit settlements
- Future earnings
- Jewelry, works of art, and household furnishings
- Assets held in trust
If you are involved in a divorce or legal separation, or if you are contemplating a divorce in southern California, please arrange to speak at once with an experienced Orange County divorce attorney at the Bayati Law Group. We routinely handle difficult, contested, and high-net worth divorce cases that involve disputes regarding spousal support and property division.
WE WILL DEFEND YOUR RIGHTS IN A DIVORCE
Marital property includes all of the assets earned or acquired by either individual during the course of a marriage with the exception of property received solely by one spouse as a gift or inheritance. Reaching agreements on splitting up the property might sound simple, but if extensive assets and properties have to be divided, deciding who owns what can be particularly difficult. Both sides in a California divorce proceeding are required by law to disclose honestly and completely all of their debts, properties, and assets.
In some marriages, however, one spouse has surreptitiously concealed, encumbered, transferred, or sold marital property or assets without the other spouse’s awareness or consent. If necessary, the Bayati Law Group will work with forensic accountants and other experts throughout a divorce proceeding to trace, locate, and assess the value of any hidden assets. During a divorce proceeding, disagreements may also emerge between spouses over the value of particular properties and/or assets. Matters can get even more complicated when the marital assets include a family business.
WHAT ABOUT FAMILY BUSINESSES AND REAL ESTATE HOLDINGS?
Even if you have built a thriving business separate from your spouse, if you’ve built the business while you were married, in the state of California that business might be considered a marital asset. The Census Bureau tells us that 3.7 million businesses across the United States are owned by married couples. In a California divorce, however such a business will be subject to a division or a buyout in a divorce proceeding.
Many divorcing couples are also the joint owners of real estate holdings, and obviously, real estate doesn’t divide that easily. Many married couples are homeowners, but many couples also jointly own commercial properties, investment properties, farmland, cabins, and vacation homes. In a California divorce, every piece of real estate is assumed to have value, and the fair, equitable division of real estate holdings is quite often the most complicated issue in a California divorce.
The first problem with real estate is accurately determining its precise value. The fluctuating nature of real estate markets and other economic factors can sometimes make it genuinely difficult to be precise. A second problem is determining if a property will be sold or if it will be retained by one spouse in exchange for some other consideration. Location, market conditions, and the amount of debt owed on a property are among the factors that have to be considered.
Another issue that can significantly complicate a divorce in the state of California is the division of retirement plans. The retirement plans that a spouse may be able to claim include but are not necessarily limited to pensions, IRAs, 401Ks, and 403Bs. Especially for anyone over fifty who is divorcing or contemplating a divorce in this state, you must do everything that you can to protect your retirement savings. Let the Bayati Law Group help you work towards resolving these issues with solutions that will satisfy both you and your ex-spouse. The attorneys at our law offices can dedicate the time and resources to provide you with the legal assistance you need during this challenging process.
While few of us could be considered “art collectors,” many couples own at least one or two pieces of art that have some genuine personal or sentimental meaning. Art sometimes has personal value beyond its financial worth, so dividing art in a divorce settlement can be far more difficult than dealing with most other kinds of property. If no agreement regarding jointly-owned works of art can be reached, the court may order a sale of the items so that the proceeds can be evenly divided.
If you owned a pet prior to the marriage, you will probably be able to keep the pet. However, because a family court’s top priority is always the best interests of a child, when a child has become attached to a pet, that attachment will carry substantial weight with the court. Every divorce is difficult, and every divorce is different, so you must be represented by a family law attorney with considerable experience handling a variety of divorce-related legal disputes.
WE OFFER SOUND ADVICE AND AGGRESSIVE REPRESENTATION
Whether you need immediate legal advice and representation from an experienced Orange County divorce attorney, or if simply need legal advice and guidance for the future, an experienced Orange County divorce attorney with the Bayati Law Group is available to offer an assessment of your situation, to discuss the full range of your legal options, and to help you make the right decisions for yourself, for your children, and for your future.
Our attorneys value the attorney-client relationship. Every Bayati Law Group client and prospective client is treated with complete respect and is extended every possible professional courtesy. It is our policy to return every client phone call and email promptly. Simply schedule an initial consultation appointment today to speak with an experienced Orange County divorce attorney at the Bayati Law Group by calling (949) 798-5700. Or, you can complete the form on this contact page of this site, where you will also find a map with an overview of driving directions to our office. The Bayati Law Group advocates on behalf of clients in Orange County and throughout southern California.