Complex Property Division in California & Nevada: Community Property States
California and Nevada are community property states, meaning that marital property is generally divided equally between both spouses. The kinds of assets and property subject to division are anything that was accumulated during the marriage, including:
- The marital home and investment real estate
- Pensions, IRAs, 401(k) plans and other retirement accounts
- Stocks and other investments, including art, vehicles and expensive jewelry
- Co-ownership in family businesses
The divorce and property division process becomes even more difficult when certain elements come into play, such as:
- Business valuation in divorce
- Reimbursement rights
- Dividing commingled assets and debt in high-net-worth divorces
- Managing tax issues
Property owned personally by one spouse, including property owned before the marriage or inherited solely by one spouse, is not considered marital property. Even separate personal property can become entangled in the division of marital property if it has contributed to purchasing marital property.
When ownership of property is complicated, such as where separate funds were used to purchase your home, it will often be appropriate to seek expert valuation in the determination of a fair division.
Our experienced and savvy property division attorneys excel at even the most complicated of divorce and property division cases. We will work diligently to ensure the most equitable outcome on behalf of our clients.