The property and debts part of a legal separation can be so complicated and overwhelming, and you may become so frustrated and confused, which can lead you to make make a costly mistake. If you own anything of value, or if you are heavily in debt, your first choice should be to seek out the assistance that only a reputable and highly qualified family law attorney can offer you. At Marc Shular Law, we have been successfully assisting our valued clients with their legal separations and separation asset division in Carlsbad for over the last twenty five years.
Marc Shular Law is the number one rated law firm that more people choose for their separation issues, including separation asset division in Carlsbad, and throughout the entire area of the state. California is a community property state, which means that a marriage or the registration of a domestic partnership makes two people actually one whole unit. So, any property that the couple acquires during their marriage or partnership is considered community property, and any debt that the couple takes on during their marriage or partnership also belongs to the whole unit. While this may seem quite confusing, a qualified lawyer know the exact means that are necessary to work this out.
Community property usually means everything that the spouses or the domestic partners own together. It includes everything you bought or received while you were married or in a domestic partnership, including debt. This rule does not apply if the money or property were acquired by means of a gift or an inheritance. For example, if you bought a truck with money you were saving from your paycheck each week, and you made this money during the marriage or the partnership, that truck belongs to both you and your spouse or domestic partner, even if you paid for it yourself.
Community property includes all financial obligations and debts that were accumulated during your marriage or domestic partnership. This is true even if the debt was incurred by only one of you, or even if a credit card was in the name of only one spouse or partner. In California, each spouse or partner owns one half of the community property, and each spouse or partner is also responsible for one half of the debt. So, community property and community debts are usually divided equally, or what ever the court deems appropriate.
If you would like some additional information regarding the complicated process of separation asset division in Carlsbad, or in any other part of California, Marc Shular Law would like to invite you to visit our web site. At marcshularlaw.com, you can take your time, within the privacy and comfort of your own home, to learn more regarding all of the family law services that we offer. On our home page, you can leave your contact information, along with any questions that you may have, and we will assist you in any way that we can. You can also feel free to call us at 858.602.5999 for further information.Separation Asset Division Carlsbad
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