COMMUNITY PROPERTY
Daniel B. Halpern, Attorney
111 North Market Street
Suite 1010
San Jose, California 95113
Phone: 408-286-8595
Fax: 408-286-8597
Email:
dhalpern@halpernlegal.com
Website: halpernlegal.com
Santa Clara Valley Attorney Daniel B. Halpern Helps You Settle Your Community Property Issues Fairly
Community property is the umbrella concept that governs the divying up of a couple's assets upon marriage. An experienced attorney can guide you through the court proceedings that determine the property with which you leave your marriage. Daniel B. Halpern may be the experienced lawyer that helps you settle your community property issues at the end of your marriage, see Family Law in San Jose, CA.
Daniel B. Halpern, family law attorney, presents an overview below:
California is a "community property" state. Community property is defined as all property and debt that was acquired by either partner in the marriage from the date of marriage until the marital cut-off date. The community assets will be split equally by the Superior Court if the spouses are unable to reach an agreement.
If the parties can come to an agreement about the division of the community property with the help of their attorneys, their agreement leads to a signed Marital Settlement Agreement that is brought into the Superior Court. If they cannot come to an agreement with the help of their attorneys, then the division of their property and debt is actually ordered by the Superior Court within the Final Judgment of Dissolution of Marriage.
When dividing property for a divorce or legal separation of the parties, property acquired by the parties during marriage in joint form, including property:
- held in tenancy in common, joint tenancy, or tenancy by the entirety, or as community property
by proof that the parties have made a written agreement that the property is separate property.
The court may also award, from a party’s share, the amount the court determines to have been deliberately misappropriated by the party to the exclusion of the interest of the other party in the community estate.
"Debts accumulated after the date of separation are treated as follows:
(a) Debts incurred by either spouse for the common necessaries of life of either spouse or the necessaries of life of the children of the marriage for whom support may be ordered, in the absence of a court order or written agreement for support or for the payment of these debts, shall be confirmed to either spouse according to the parties’ respective needs and abilities to pay at the time the debt was incurred.
(b) Debts incurred by either spouse for nonnecessaries of that spouse or children of the marriage for whom support may be ordered shall be confirmed without offset to the spouse who incurred the debt. . . ."
Since California is a community property state, all marital property will be divided 50-50 by the court unless agreed to otherwise by the divorcing spouses. Of course this does not mean that each asset is divided in half, but that rather that each partner is assigned assets of the same value.
Information from DivorceSupport.com.
Daniel B. Halpern, Attorney
111 North Market Street
Suite 1010
San Jose, CA 95113
Phone: 408-286-8595
Fax: 408-286-8597
Email:
dhalpern@halpernlegal.com
Website: halpernlegal.com
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