Fresno Asset Division Lawyer Secures Your Rightful Share

Meticulous representation for property division negotiation and litigation

In going through a divorce, the division of your property is one of the most important issues to decide. California is a community property state, which generally guarantees each spouse an equal share of all property acquired during the course of the marriage. However, the process is not as simple as the concept, and spouses must take steps to protect their interests. At Gates Law Group, A Professional Corporation in Fresno, we will guard your interests throughout the asset division process as we work to secure your rightful share of property.

Community versus separate property in a California divorce

Under California law, spouses keep all of their own separate property and divide community property evenly in a divorce. The question of when and how property was acquired becomes very important. Separate property is generally defined as assets and debts acquired in any of these ways:

• Prior to the marriage
• During the marriage by use of separate property
• During the marriage via gift or inheritance
• After the couple has physically separated

At the start of the divorce process, spouses must disclose their assets and debts and designate each item as community or separate. However, a spouse might attempt to hide assets, designate some marital assets as their own separate property or pass off their own separate debt as marital. We are always on guard for such tactics and take active steps to identify and prevent them from influencing the division of property.

Some items, such as retirement funds, might be part separate property (if the account was opened before the marriage) and part community property (as the account was funded throughout the marriage). Financial experts can examine records and offer opinions about who to divide the funds.

Challenges of valuing community property

Assets that are treated as community property must have values assigned. This step often gives way to controversy as parties come up with conflicting appraisals on various items, including:

• Real estate
• Fine art
• Luxury items
• Stock options 
• Business interests
• Intellectual property

Parties can hire competing appraisers or can agree to accept the opinion of one reputable source. 

The value of these items can impact the final settlement greatly. For example, one party might set a goal in negotiations to secure an asset to which they have a particular attachment. If that item is appraised very highly, the spouse who wants it will have to cede a great deal of other marital estate to the other spouse. An inaccurate valuation can lead to significant overpayment.

Issues common to high net-worth divorce

The more assets you have, the more you stand to lose. Too often, spouses resort to underhanded tactics to retain property under their control. Fortunately, we have the experience to recognize the telltale signs of hidden or undisclosed assets, fraudulent transfers, underreported revenue and other deceptive practices. We are meticulous in our examination of financial records and all other evidence revealing the property to be divided.

Contact a Fresno divorce lawyer for an asset division consultation

Gates Law Group, A Professional Corporation in Fresno, provides knowledgeable divorce representation throughout California. We also have offices in Paso Robles and Visalia. Please call 559-432-9944 or contact us online to schedule a consultation.