There are few things more complicated than divorce. Not only is divorce a very emotional process, but it is also complicated legally and financially as well. Unfortunately, in many cases, spouses will lose out on assets they believe are theirs on top of the emotional toll can take. California courts determine who gets which assets in the equitable distribution process, and if you are worried that you may lose certain assets in your divorce, you must read this blog and speak with our experienced Los Angeles divorce attorneys to learn more about equitable distribution and how we can help you through every step of the process ahead. Here are some of the questions you may have:
What is the difference between marital and separate assets?
When a couple gets divorced, the courts will divide their assets into two primary categories: marital property and separate property. Essentially, marital property consists of assets that were acquired by either spouse during the course of the marriage, while separate property, on the other hand, relates to assets that were acquired before, or outside of a marriage, such as a gift or inheritance. Generally, marital property is subject to equitable distribution while separate property is not.
How do California courts determine who gets which marital assets in a divorce?
As previously stated, when a couple gets divorced, their marital process will be subject to equitable distribution, which is essentially the process wherein the courts will determine who gets to keep which assets. Unfortunately, the phrase, “equitable” seldom means equal. Instead, the phrase deals more with what the court sees as a fair and just distribution of your marital assets. Rather obviously, if you are someone with a nice car, a beautiful home, or any other asset that means a lot to you, you have a lot on the line. Furthermore, you should understand that if you own a business or a private practice, those are also subject to equitable distribution, which means you must hire an attorney familiar with the various intricacies associated with business and private practice owner divorce. Our firm is here. If you have any additional questions, or you need an attorney who is ready to zealously represent your rights through every step of the legal process ahead, all you have to do is pick up the phone and give us a call.
Contact our experienced Los Angeles firm
Divorce and family law issues are notoriously complicated and personal, which is why you must hire an attorney with years of experience, as well as the compassion and skill needed to handle these sensitive matters. For the qualified, dedicated legal representation you and your family deserve and need, contact Zitser Family Law Group, APC today.