Property Division

Divorces involving international property present unique legal and financial challenges. High-net-worth couples in Orange County often hold diverse global assets, including commercial real estate in Asia, ancestral property in Mexico, private equity stakes in Europe, or bank accounts in Switzerland and the Middle East. Cross-border divorces in California require balancing two distinct legal principles: Mandatory Worldwide Disclosure: California law forces both spouses to disclose every single asset owned across the globe, regardless of location or local bank secrecy laws. Territorial Legal Limits: While a California family court holds legal authority…

We all know that the divorce process is not a pleasant emotional experience, but what many people do not consider is this: if you’re not careful, divorce can also be a disaster for your finances. First things first: Before considering what financial mistakes you can make in a divorce – and how to avoid them – the most important thing going into a divorce in California is having the advice and representation of an Orange County divorce attorney. Make sure that your divorce lawyer has substantial experience handling the division…

All assets have their own value profile. While real estate often increases in value as the supply-and-demand changes, there are some assets that depreciate – such as vehicles or appliances. As an asset depreciates, it can be harder to determine its value, let alone what portion is to be divided for community property. In a divorce, marital assets are divided based on their value. For those assets that have depreciated, it is imperative that couples estimate the depreciated value – rather than the original purchase price – to ensure a…

Different states have different laws regarding spouses’ ownership rights in property acquired before and during their marriage. As Californians, our marital assets are treated as “community property.” At its most basic level, this means that assets acquired during the marriage are considered to be equally owned by both spouses. However, there are several special rules and exceptions that often make it difficult to cleanly divide marital property during a divorce. Community Property – The Basics California’s community property law states: Except as otherwise provided by statute, all property, real or…

Couples often move from state to state during marriage, and such moves can complicate the divorce process. Eventually, they may end up with real estate property in more than one state. Some states, such as California have community property laws where courts divide marital property 50/50 during divorce. Other states base property division on equitable distribution, which divides property between spouses fairly, but not necessarily equally. So which jurisdiction prevails when dividing property that is owned in more than one state? In California, this issue is addressed as quasi-marital property.…