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property division Archives

Children's belonging are divided in divorce as well

When you're ready to get a divorce, you know you have to divide your property. What about your child's property, though? You and your spouse are planning to share custody, so where should the bed and other items go? Should they stay in the family home? If you move, should they go with you or your child's other parent?

Community property in California defines asset division

California is one of few states with community property laws. Community property laws differ from equitable distribution laws since assets collected during a marriage are split equally between those getting a divorce. Any property obtained during the marriage automatically becomes marital property.

Protecting yourself after divorce: Refinancing your home

After a divorce, it's usually a good idea to look into refinancing your home. Why? There are a few good reasons to do so, including that you will be able to protect your credit, could use your home equity for other purposes or buy your spouse out of the property.

Preparing for divorce? Understand property in California

In California, property division is handled equitably. That means that unless you have a prenuptial or postnuptial agreement stating otherwise, your assets are divided in as fair a manner as possible during divorce. The courts look at a variety of factors to determine what's equitable if you and your spouse can't come up with a property division agreement on your own.

Make financial withdrawals before you file for a divorce

If you are considering getting a divorce, you may want to think about starting a separate bank account now. If you don't and only have a shared account when you file, you may be restricted to not using the account until your assets are divided. This could be difficult for you, especially if you have no way to reroute payments or don't have a job to support yourself.

Debts and divorce: You could still be liable despite court orders

When you're going through a divorce, you may already be focused on the assets you want to obtain. One thing you should not overlook is the amount of debt you could be left with. If you share debts with your spouse, it's in your best interest to find a way to reduce what you owe, so you can walk away from your divorce without debts to pay.

What can you do for a better division of your marital property?

It's always hard to decide that you want a divorce, and the realization of everything you need to do to finalize it can be overwhelming. Your attorney is there to help you through your divorce, but there are also some things you should know about protecting your assets.