Simple and Complex Asset Division

Simple Asset Division

To determine the assets and liabilities of the marital estate for purposes of dividing the same upon dissolution of marriage, all property acquired during the marriage is community property, whether or not it was acquired while domiiciled in California.

Complex Asset Division

Marital property rights and obligations, both during and upon termination of marriage or a domestic partnership, is a very complex body of law. The bundle of rights and obligations turn on community vs. separate property, fiduciary duties of management, control, and disclosure, and debt liability and reimbursement rules. In a dissolution, legal separation, or nullity action, the task is evaluating an equal division of the community estate.

Just to give a taste of how complex this area of the law can be, here are some factors to consider: (1) marital property rights; (2) multistate contacts/choice of law rules; (3) recognized ownership interests of spouses/domestic partners; (4) quasi-community property; (5) quasi-marital property; (6) community property with right of survivorship; (7) characterization of property/properties; (8) transmutation; (9) common law vs. superseding statutory title presumptions; (10) joint title and joint tenancy presumptions; (11) impact of preemptive federal laws; (12) characterization re time of acquisition; (13) term life insurance policies; (14) employer-subsidized health insurance policies; (15) post-separation acquisitions; (16) disability payments; (17) characterization by method/source of acquisition; (18) employment termination benefits; (19) former spouses' rights of survivorship; (20) federal employee benefits; (21) gifts and inheritance; (22) personal injury damages; (23) credit and loans obtained during the marriage and after separation; (24) date of separation laws and presumptions; (25) homes acquired before marriage, with mortgage paid down with community funds; (26) homes acquired before marriage, and converted into joint title; (27) apportionment of rents and profits; (28) fiduciary duties of management and control; (29) marital property debt liability and reimbursement claims; (30) ERISA preemptions; (31) QDRO requirements; (32) stock options; (33) tax rights and liabilities; and (34) void or voidable marriage rights.

This gives you an example of how complex the law can be in these matters. If you are looking for a competent attorney who will protect your rights and assets, please contact Jos Family Law at (714) 733-7066 or jos@josfamilylaw.com.

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