At Langley Law Firm, we know that one of the most contested parts of any divorce can involve property issues. Who gets what? Dividing the property brought into the marriage as well as what was purchased jointly can be a very tricky process.
California is a community property state, which means a court must divide a divorcing couple’s assets and debts evenly. Couples can divide them in any way they choose so long as they each understand what they are getting and what they are giving up. Through his years of experience, Peter Langley effectively counsels clients about their options for dividing property and tax considerations and what is best for them.
Another issue that must often be addressed is whether there is a separate property interest in community property or vice versa. Generally, a spouse’s separate property is what he or she brings into the marriage and any gifts or inheritance that he or she receives during the marriage. But, for example, the community can gain an interest in a separate property residence by making payments to the loan principal, or in a separate property business by one spouse increasing its value during marriage. Valuing interests is an intricate process and Peter Langley is able to take his clients through this complex system.
For more information about property issues, community property state, and separate property in Walnut Creek, please use our Contact Us form.