How does the Court divide Assets and Liabilities?

The law dictates it is done fairly and equitably.

All property acquired from the date of marriage until the date of Separation is “community property” no matter whose name it is in. The real Property has to be Appraised if the value is contested. This includes Real Estate, Retirement Accounts, Bank Accounts. This does NOT include “seperated property” such as gifts, an inheritance, or property brought into the Marriage.
The Court may consider the Separate property, gifts and inheritance from each party when dividing the Community Property of the Marriage, If one side has significantly more.

Children - The Court favors the Children remaining in the family home for a period of time to support them in Schools and friends.

Personal Properties - such as belongings, pets, vehicles, etc are also all considered. Only the equity in Asset’s are considered. Meaning if there is a loan on the car, but it is worth more than the loan, that part is the equity.

Retirements usually have to be valued by an expert to analyze a stream of payments in the future and giving it a present value.

For more information on how the Court will divide your assets and liabilities, call or fill out a submission sheet on our front page to talk with Mr. Duce for a free consultation about your situation. 360-659-9210