Community Property
Community Property Lawyers in Northwest LA
Division of community property can be one of the most contentious aspects of divorce proceedings. At Knight Law Firm, we're committed to protecting your financial interests and advocating for a fair distribution of marital assets. Our knowledgeable attorneys will conduct a thorough assessment of your marital estate, identify community property, and work diligently to negotiate or litigate a favorable outcome on your behalf. Whether you're facing complex property division issues or seeking to protect your separate assets, we'll provide personalized guidance and strategic advocacy to help you achieve a fair resolution and move forward with confidence.
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Insight on Community Property Division
Property acquired before the marriage or acquired by inheritance or gift during the marriage remains the separate property of the person receiving the gift or owning the property. Additionally if one person obtains a personal injury settlement that is not lost wages, during the course of the marriage, this is also separate property.
Community property is acquired during the marriage and must be correctly examined and divided between the parties upon divorce. Property division can be highly technical and complex.
Additionally, one party can enter into a prenumptial agreement prior to marriage. This agreement can mean that there is no community property regime that exists between the parties. If one spouse is attempting to assert that there is community property in the presence of a prenuptial agreement, said agreement must be examined closely by a lawyer with the expertise necessary to interpret it.
In some instances, parties may have few assets but a lot of debt. In these cases, parties simply attempt to avoid the community property division process, claiming that its not worth the expense. However, a good property settlement will note the debt attributed to each party and include an order that each party pay this debt. Without such an order, a party may be stuck paying for more debt that their share.
If you need an attorney to either advise you or litigate your community property claim, then you need the services of Robert Knight. Mr. Knight has been involved in many community property claims and has the knowledge that you need to successfully resolve your case.
What is not considered community property?
Knowing what kind of property gets separated during divorce litigations can be confusing.
But not to worry, because we're here to walk you through it. Property that is not eligible for splitting includes property:
- Acquired before marriage
- Acquired through inheritance
- Gifted to one person
Personal injury settlements would also be considered separate property. Find out more from our property division lawyer when you reach out to us now.
Take control of your financial future. Schedule a consultation with our skilled legal team today.