One major decision to make when advancing through a divorce is how the two parties’ assets and debts will be divided. In California, this process is called property division. When it comes to deciding what is fair and equitable, it is often helpful to have an experienced Napa property division attorney on your side.
The team at Hayes Family Law has extensive experience handling complex property division cases. We understand the unique challenges that come with dividing high-asset estates, and we work tirelessly to protect your interests as amicably as possible. However, we understand the stakes are high in these situations. Our skills and experience mean you can expect the best potential outcome if your case goes to trial. We take the time to get to know you and your unique situation so that we can develop a tailored legal strategy that meets your specific needs.
If you are facing a divorce and need help dividing your assets, contact Hayes Family Law today to schedule a consultation. Our knowledgeable and passionate Napa attorneys can help you navigate the property division process and protect your interests.
In California, property division is the process of dividing assets and debts between two parties who are divorcing. This includes both physical property, such as real estate and vehicles, and intangible property, such as stocks, bonds, and pensions.
Property division can be complex, especially if the parties have a high-asset estate. Several factors must be considered, such as each party’s income and expenses, the length of the marriage, and whether there are any minor children. It is important to note that property division is different from spousal support, which is the process of awarding financial support to one spouse from the other.
In California, property is divided between spouses during a divorce using the community property system. Under this system, all assets and debts acquired during the marriage are considered community property and are divided equally between the spouses. There are a few exceptions to this rule, such as gifts and inheritances, which are regarded as separate property. For example, if one spouse inherits a house from their parents, that house would be considered separate property and not divided between them. But a house purchased during the marriage together would be considered community property and would be divided evenly.
The steps in the property division process will vary depending on the case. However, typically the process will involve the following steps:
- Gather information. The first step is to gather information about all of the assets and debts that will be divided. This includes both physical property and intangible property.
- Prepare a proposed divorce settlement agreement. Once all the information has been gathered, the parties will need to sit down and prepare a proposed divorce settlement agreement. This document outlines how each party would like to see the assets and debts divided between them.
- Negotiate. The next step is to negotiate the terms of the divorce settlement agreement. This can be done through mediation or direct negotiation between the parties.
- Finalize the agreement. Once the parties have reached an agreement, they will need to finalize the divorce settlement agreement. This can be done by signing a written agreement or by appearing in court.
- Implement the agreement. The final step is to implement the divorce settlement agreement. This typically involves transferring the assets and debts from one spouse to another.
If you are considering divorce and need help dividing your assets in Napa, CA, contact the experienced attorneys at Hayes Family Law today. We will help you navigate the property division process and protect your interests.
Trust Hayes Family Law
Our boutique family law firm can handle your Napa Valley property division with sophistication, no matter how complex it is. If you are considering divorce and need help dividing your assets, contact the experienced attorneys at Hayes Family Law today. We look forward to helping you prepare for life after divorce with a proper understanding of the property division process and your legal rights.