Most people approaching divorce in California have heard that it is a “community property state.” In a nutshell, this usually means that everything earned or acquired during a marriage is subject to 50-50 division in a divorce. The same is true of debts accumulated by either party or both parties during a marriage. If a paycheck is in one spouse’s name or if a debt is in one spouse’s name, that paycheck or that debt is still divisible by two in a divorce settlement in California.
People from throughout Los Angeles County and surrounding areas find help and guidance through a California divorce with the reassuring help of Law Offices of Liu and Hsu, P.C. A Professional Law Corporation.
The Important Matter of the Marital Home
Whereas money can be divided in half, a house cannot, naturally. Determining what will happen with the marital home — who gets the house, equity, remaining mortgage and fiscal responsibility — is an essential aspect of a great many divorces. What if the house was purchased by one spouse before the marriage — but shared during the marriage? Calculations to determine a fair division of assets, including a house will take into account factors such as the fair market value at the time of the marriage, how long an estranged spouse was away from the house and more.
When Children Are Part Of A Marriage
When a marriage includes children, a divorce decree will include provisions for where they will live, when they will spend time with both parents and which parent will pay child support to the other. Dividing a child is even less possible than dividing a house. Therefore, most child custody agreements or orders divide parenting time for each parent.
Methods Of Settling Terms Of A Divorce
Most divorce cases go to mediation. This is a forum in which parents can work out settlements to financial and child-related issues. If mediation fails, a court trial is a possibility. However, only about one to two percent of divorces go to trial. At Law Offices of Liu and Hsu, P.C., we approach every divorce as if it will go to trial. This approach helps clarify difficult questions such as how retirement accounts will be divided and how business valuation will be fairly determined. In practice, however, the vast majority of cases are settled outside of court.
Discuss Your California Divorce With A California Attorney On Your Side
We can help you face your divorce, get through it and move on with your life. For honest, practical advice and guidance in a California divorce, contact Law Offices of Liu and Hsu, P.C., to schedule a consultation.
We offer representation in divorce with assistance as needed for Chinese- and Spanish-speaking clients.
我們講中國語文。Se habla español.