Asset Division and Property Division in a Divorce

Asset Division and Property Division in a Divorce

One of the most complicated aspects of getting a divorce is splitting up the assets you and your spouse have gathered and shared over the years. At Sierra Family Law in Sacramento, California, we specialize in helping the process to go smoothly and getting you the asset distribution you deserve. If you are in the midst or on the cusp of a divorce, here is intro information into the division of property and other assets. Reach out to us today for help with your asset and property division.


Getting Started

The first step once you and your spouse have decided to get a divorce is to reach out to a dissolution lawyer. At Sierra Family Law, we specialize in the process of deciding where various kinds of assets and property will be divided and distributed.


Assets That Are Divided

There are several types of property that can be divided. But, in the most basic sense, physical property like homes and furniture, financial assets like bank accounts, and business property like manufacturing equipment are all divided up.


Types of Property

In property distribution, there are a few different legal categories that help to determine who owns said property:

  • Separate Property - All assets obtained before marriage or after separation, or by inheritance, gift or devise.

  • Community Property - Assets and debts obtained/incurred from the date of marriage and date of separation.

  • Commingled Property - A mixture of separate property and community property that requires a tracing to determine which portion is separate and which portion is community property.

If you are in the process of getting a divorce and are in need of professional law assistance, Sierra Family Law is ready to help you and your spouse divide up your assets so each party receives their respective belongings and financial assets. For more information about the division of assets and property, reach out to us today to learn more!