In 2016: Division of Assets and Debts in a San Diego Divorce or Legal Separation Can Be Complicated

Whether your pending family law case in San Diego is a divorce or legal separation, the division of the assets and debts is the same. In both a legal separation and a divorce, a Judge will make orders for custody, visitation, spousal support, child support, division of debt and division of asset. In both cases, you file the petition and then must complete the preliminary declarations of disclosure which include the income and expense declaration as well as the schedule of assets and debts. The difference is that, after a judgment of legal separation, the parties cannot remarry and after a judgment of dissolution the parties are legally single and can remarry. As such, most spouses decide to divorce rather than legally separate since most do not want to do the family law process twice. There is no difference, in enforcement, for a legal separation judgment as compared to a divorce judgment. The Law Office of Doppelt and Forney, APLC can help you to obtain a judgment for division of both assets and debts as well as other issues in the pending case.

There are many assets in either a legal separation or divorce case. Below is a list of some of the assets however there are others. Under California law, these assets are to be divided one half each from date of marriage through date of separation and presumptively community property. Community property is defined as property which is acquired before the date of separation and after the date of marriage. Separate property is defined as property which is acquired after the date of separation and before the date of marriage. Quasi community property is defined as property which is acquired during marriage but located in another state and [normally] real property. Even though an asset is considered to be community property, this does not mean an equal division such as in the case of a separate property downpayment on a community property residence and request for reimbursement in the division of the residence. The Law Office of Doppelt and Forney, APLC can analyze the division of assets to insure an equal division in accord with California law.

• Business Interests
• Partnerships
• Unsecured Notes
• Accounts Receivable
• Deferred Compensation
• IRA’s
• Annuities
• Profit Sharing
• Pensions
• Retirements
• Mutual Funds
• Secured Notes
• Bonds
• Stocks
• Life Insurance with Loan Value or Cash Surrender
• Tax Refund
• Cash
• Credit Union Accounts
• Deposit Accounts
• Checking Accounts
• Savings Accounts
• Trailers
• Boats
• Vehicles
• Coin Collections
• Art
• Antiques
• Jewelry
• Real Estate
• Household Furniture
• Household Appliances
• Household Furnishings

Division of debts, and again it makes no difference whether a divorce or legal separation, are also divided equally. This are, as always, exceptions and one of these are student loans under certain circumstances. The Law Office of Doppelt and Forney, APLC can help to insure the division of the debts in your case are in accord with California family law. Below is a list of some of the most common debts.

• Credit Cards
• Unsecured Loans
• Secured Loans
• Child Support Arrears
• Spousal Support Arrears
• Taxes Owed
• Student Loans

The Law Office of Doppelt and Forney, APLC is a local San Diego law firm and practices in all of the San Diego Family Law Courts including Vista, Chula Vista, El Cajon and downtown San Diego. Their family law firm offers a free in-person or virtual consultation up to thirty minutes in their office which is also confidential. Call their office today to discuss your pending case.