Sacramento Property Settlement Attorneys
When a couple goes through a divorce or legal separation, they must divide the assets they once shared. This part of the break up often results in arguments over who will keep the china set or the beach house. For some property, such as an inheritance or heirlooms, ownership naturally falls to one individual. Other complex property division and asset division requires extensive negotiations or litigation. For help with a property settlement case, contact an experienced and successful property settlement lawyer in Sacramento, CA at Boyd Law for legal help and answers.
Determining Who Gets What
Any property or assets purchased prior to the marriage may fall under the category of separate property. The state also considers formalized property acquired after the time of separation, but before a divorce, separate. Anything acquired during the marriage is community property, which couples must divide 50/50.
Property and assets extend far beyond the couple’s home, jewelry, and vehicles. Community assets may also include:
- Shared bank accounts
- Shared family businesses
- Securities and investments
- Real estate
- Recreational vehicles
- Trusts and estates
- Vacation properties
- Retirement assets and accounts
- Valuable pieces, including antiques, jewelry, and art
Spouses may work out their own divisions, picking and choosing which assets to keep. However, many need outside help to come to an agreeable settlement. Each spouse should receive property in equal value, though it may not be possible to divide each asset on its own. For instance, in a real estate negotiation, one spouse may either buy out the other or offer an asset that has approximate financial value. Spouses can even agree to share property after a divorce.
To create fair market valuations and work through divisions, many couples rely on financial investigators. At Boyd Law our property settlement attorneys in Sacramento, CA work with a number of financial professionals who help couples through property settlement negotiations. We also offer mediation services to facilitate the process.
Prenuptial and Postnuptial Agreements
Asset protection is one of the primary purposes of prenuptial/postnuptial contracts. Although no one expects to get divorced, a predetermined plan can help protect an individual’s property rights and prevent debt and or bankruptcy obligations from affecting both spouses. Prenuptial/postnuptial contracts are the first place a couple and the courts will look to determine proper division of property. This can make a significant difference on long-term quality of life.
Property Division Disputes
Not every property division process goes according to plan. When a spouse conceals property or claims it erroneously as a separate asset, he or she must prove the property is, in fact, separate. When challenges arise, a qualified Sacramento divorce attorney can help you protect your right to community property and your ability to prove the separate nature of personal property. In such circumstances, a qualified counselor can safeguard your rights and ensure you receive an appropriate amount.
Signing a Marital Settlement Agreement
After a couple agrees to the terms of the divorce or settlement, each party must sign a marital settlement agreement. This document outlines everything from property division to child visitation plans. The agreement will become part of your divorce order and, once official, serve as an enforceable contract. When problems arise after a divorce, the courts will refer back to the divorce order and marital settlement agreement.
Finding the Right Property Settlement Attorney
If you are going through a divorce in Sacramento, work with an attorney who understands property division at every level. At Boyd Law, we have experience helping individuals of high net worth in complex property situations. Our team of attorneys knows the laws that govern property division and how to protect your personal property.
A fair property settlement can help you move forward after your divorce or separation. You should never have to sacrifice your cherished and needed belongings to dissolve your marriage. For more information, contact Boyd Law in Sacramento for a free consultation.