San Jose Asset Division Lawyer

In a California divorce, one of the most contentious topics is regarding asset division. The division of marital assets is key in a successful divorce case but can also lead to tension and emotional challenges. What you walk away with from a divorce hearing can define your financial future and stability for years to come. It is vital, therefore, that you have a clear understanding of the asset division laws and the guidance of a San Jose asset division lawyer.

Navigating a divorce in California can be a difficult enough legal situation by itself. When that divorce is accompanied by several assets or assets of high value, it can only increase the challenges faced by the divorcing couple and lead to a higher level of conflict and debate. At the Law Offices of Rod Firoozye, we understand the inner workings of California asset and property division law and can use this knowledge to work toward a positive outcome for you.

Asset Division in San Jose, California

The state operates as a community property state. This means that in a divorce, the state will divide your property and assets into two categories. These categories are:

• Separate property. These assets are those that are not subject to division in a divorce and are made up of several different forms of property, including assets that were owned before the legal establishment of the marriage, assets that were given as a gift to one of the spouses, or assets that were obtained through inheritance. However, there may be a chance that separate property can become community property if there is a mix.
• Community property. This property includes the assets that will be subject to division in a divorce. These are any assets or debts that were acquired during the marriage regardless of who earned the money the assets were bought through or whose name is attached to the assets.

When facing a divorce in California, the couple must be able to reach an agreement on how their assets will be divided. If they cannot reach an agreement on their own, they will be required to go before a judge to present their arguments, and then the judge will make a determination on how these assets will be divided according to the community property laws of the state. There are several assets that are often involved in these cases, including the following:

• Stocks and bonds. If the divorcing couple owns a large investment portfolio consisting of many different kinds of stocks, bonds, or other financial securities, it can lead to a highly complicated asset division. The worth of each asset may change values frequently and this can make it challenging to assess the correct way in which to split these items in accordance with California property division laws.
• Interests of business. If the couple owns a business together or has significant stakes in a company, this can add a challenging level of complexity while navigating the asset division of a divorce. Whether the business is family-owned and operated, there are partnerships involved, or it is a larger corporation, the court will need to determine how these business relations and included assets are valued.
• Properties. If the divorcing couple shares real estate holdings beyond a marital home, such as vacation homes, out-of-state or out-of-country properties, commercial properties, or residential rentals, there is an increased chance that it may be difficult to determine how these assets will be divided.
• Collections of value. Some divorcing couples may own several highly valued collections of assets, including art collections, jewelry, classic cars, or antiques. Each of these items will need to undergo an appraisal so that they may be assigned value before the assets can be fairly divided between the couple in a divorce.
• Other assets subject to division may include 401k plans, home appliances and furnishings, cash on hand, vehicles, bank accounts, pension plans, or life insurance plans with cash value.

The Law Offices of Rod Firoozye: Protecting You in a California Divorce

When facing an asset division due to a legal separation or divorce in San Jose, California, the team at the Law Offices of Rod Firoozye is here to protect your interests. We understand how stressful and emotionally charged asset division can be and hope to be there for you to provide a legal shoulder to lean on and experience and resources you can trust. We can assist you in an asset division by helping assign values to your assets and uncovering any hidden assets.

Trust our law firm to protect your assets if your soon-to-be ex-spouse tries to undervalue or hide assets in order to further their own financial position in a court case. Having a family law specialist on your side, like the ones at the Law Offices of Rod Firoozye, can help ensure that your divorce proceedings and the experience of asset division remain fair and transparent.

Issues That May Arise in a Situation of Asset Division

In an asset division in San Jose, California, there is always a chance for issues to arise. One of the most common issues, especially in cases of high-asset divorce, is when the spouses own a business together, there is always a chance that one spouse will try to hide assets to avoid losing half of them in a divorce. Until the divorce is finalized and the judge has issued a final judgment of divorce, the assets that are owned by the marriage are still owned by both parties.

For example, if one spouse clears out a checking account before the divorce is final, the other spouse still owns half of those funds. If you believe your spouse is hiding assets, an attorney may be able to bring in a forensic accountant to track down certain assets and ensure that they are all accounted for in an asset division.

Speak to an Experienced Property Division Attorney Today

If you are facing a divorce in San Jose and are undergoing a division of your marital assets, the team at the Law Offices of Rod Firoozye is here to help. For nearly 30 years, we have been practicing family law and understanding the inner workings of this complex legal system. Contact our offices today to schedule your initial consultation and learn why working with us is the right choice.