California is an "equitable division" state when it comes to the division of community property in a divorce. Contrary to what most people think, "equitable division" does not mean everything is split 50-50; rather, marital assets are divided according to what the court believes is an "equitable division" given the income, lifestyle, child custody and debt obligations of the parties involved.
At the law office of Garber & Garber, A.P.L.C., our attorneys work closely with accountants, forensic accountants, tax experts and other financial professionals in determining the assets and debts of our clients. Especially in cases involving closely held businesses, homes brought into a marriage and pension benefits, determining the actual value involved is important when dividing marital property.
Our Los Angeles division of community property lawyers make sure our clients aren't saddled with debt that is not theirs or denied assets they have a legitimate claim to. Protect your rights and financial interests — contact our marital division of community property lawyers at Garber & Garber, A.P.L.C. today.
Dividing Marital Property
At the law office of Garber & Garber, A.P.L.C., our attorneys assist and represent clients regarding the following marital property issues:
- Division of marital debt — credit cards and loans
- Home equity issues, including Moore Marsden
- Division of pension benefits, 401(k)s, retirement funds
- Business evaluations for closely held businesses
- Joint bank accounts
- Stock portfolios
- Division of valuables collected
Considering Debt - An Important Part of the Division of Marital Property
While the division of community property is important, determining and dividing debt are inevitably parts of the process as well. While you and your ex-spouse are responsible for any loans or lines of credit held jointly, you may also be held accountable for debt that does not have your name attached to it.
Because credit card companies and banks are not concerned with what terms your divorce agreement contained regarding the settlement of debt, you could find yourself the target of collection agencies and banks if your ex cannot pay off debts he or she accumulated during your marriage.
Contact Experienced Property Division Attorneys Today
At Garber & Garber, A.P.L.C., we take steps early on in the divorce process to determine debt you are accountable for. Our attorneys also identify other forms of debt to avoid potential problems before they arise after your divorce is final. Negotiating the liquidation of certain assets or creating an agreement that protects you legally from incurring debt responsibilities that are not yours is essential. We understand how to protect our clients and help them plan for their financial future after a divorce is finalized.
To schedule an appointment and learn more about the division of marital community property and how we can help you, contact the law office of Garber & Garber, A.P.L.C. today.
Garber & Garber, A.P.L.C.
3550 Wilshire Blvd., Suite 1122
Los Angeles, CA 90010
Phone: (213) 480-0817
Fax: (213) 480-0677
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