Property Division & Equitable Distribution Attorneys in Burbank
California is an equitable distribution state. This means that in the event of a divorce, property is to be divided fairly between the two parties. The court will consider many factors in determining what would constitute a fair split in any individual case.
The process can require a vast amount of exacting paperwork, discovery of the other party's property, negotiation and potentially appearing before the court. Extensive knowledge of relevant laws, precedents and your rights is required in order to be able to influence the outcome toward what you desire, which is why you should enlist an experienced divorce lawyer for your proceedings.
What factors influence property division?
- Factors the court may consider include:
- The duration of the marriage
- The income of each party at the time of filing
- Predicted future financial circumstances of both parties
- Loss of rights such as insurance, pensions or inheritances due to dissolution of the marriage
- Other determinations such as alimony and child support
- Non-financial contributions of each spouse to the marriage, for example as a spouse, parent or homemaker
- Sacrifices of career or income earning capacity for the sake of the marriage or family
- Any squandering of marital assets
Caring for Your Financial Future
At Fusco & Clarke, we are here to help you move forward through this difficult time. Our firm can keep the financial priorities in mind to so that your future is cared for as best as possible.
Some assets are considered separate property, such as items purchased before the marriage, or inheritances. Marital property includes anything acquired during the marriage, regardless of whose name is on the title. All marital property will be considered for division and we can usually help parties reach an agreement without having to defer to the court.