Property Settlement in Divorce in California
In California, when two persons get divorced initially there are two things that can happen.
The first is where there is no disagreement between the parties about property settlement agreement.
In this situation, the property of the marriage will be divided according to a written agreement between the spouses ("marital separation agreement").
The major issues, financial and non-financial in the agreement are usually property and debt division, custody, child support and spousal support.
Once the divorce proceedings have commenced, it can be incorporated into the divorce and become part of the relevant court order, in which case it is enforceable.
If this does not happen, then the terms would simply remain an agreement between the parties.
The legal system generally encourages any proceedings which occur by consent between the parties.
The reason for this is that it represents the most likely way that the proceedings will be resolved quickly and with a minimum of cost and emotional turmoil to both sides.
Consent based proceedings move through the system much more quickly.
Once this process has been completed and the agreement has been made part of the orders of the court, the property settlement agreement can only be amended by another hearing in front of a judge and negating any significant extenuating circumstances, the property agreement negotiated will carry a lot of weight.
Unllike other states, in California all property such as pensions, profit-sharing benefits, stock options, and other retirement benefits acquired during a marriage is considered to be marital property and all property owned before the marriage is considered to be non-marital property.
This division also applies to debts.
Debts are also considered community or marital property and may include credit card bills.
If the parties cannot agree on the division of property and debts a judge will review your circumstances and issue an order making the decision for you.
The definition of separate property is 'property acquired before your marriage and may include rents or profits received from these items; property received after the date of your separation with your separate earnings; inheritances that were received either before or during marriage; and gifts to one member of the marriage alone you alone, not you and your spouse.
Because the enormously complicated nature of property division issues in California and the potential for these issues to become unmanageable, finding high quality legal advice is always recommended at a difficult stage such as this.
The first is where there is no disagreement between the parties about property settlement agreement.
In this situation, the property of the marriage will be divided according to a written agreement between the spouses ("marital separation agreement").
The major issues, financial and non-financial in the agreement are usually property and debt division, custody, child support and spousal support.
Once the divorce proceedings have commenced, it can be incorporated into the divorce and become part of the relevant court order, in which case it is enforceable.
If this does not happen, then the terms would simply remain an agreement between the parties.
The legal system generally encourages any proceedings which occur by consent between the parties.
The reason for this is that it represents the most likely way that the proceedings will be resolved quickly and with a minimum of cost and emotional turmoil to both sides.
Consent based proceedings move through the system much more quickly.
Once this process has been completed and the agreement has been made part of the orders of the court, the property settlement agreement can only be amended by another hearing in front of a judge and negating any significant extenuating circumstances, the property agreement negotiated will carry a lot of weight.
Unllike other states, in California all property such as pensions, profit-sharing benefits, stock options, and other retirement benefits acquired during a marriage is considered to be marital property and all property owned before the marriage is considered to be non-marital property.
This division also applies to debts.
Debts are also considered community or marital property and may include credit card bills.
If the parties cannot agree on the division of property and debts a judge will review your circumstances and issue an order making the decision for you.
The definition of separate property is 'property acquired before your marriage and may include rents or profits received from these items; property received after the date of your separation with your separate earnings; inheritances that were received either before or during marriage; and gifts to one member of the marriage alone you alone, not you and your spouse.
Because the enormously complicated nature of property division issues in California and the potential for these issues to become unmanageable, finding high quality legal advice is always recommended at a difficult stage such as this.
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