Ontario Property Division Lawyer

No couple expects their marriage will end in divorce, yet these cases are filed in California every single day. Once you file for divorce, you and your spouse will need to reach an agreement on how to divide marital property. If you cannot reach this agreement, you will need court intervention and an Ontario, CA property division lawyer can help.

At All American Law, our team has over a decade of legal experience assisting clients who have faced a wide range of family and divorce law cases, including property division, child custody, child support, and spousal support. We want to be there for you every step of the way and guide you through this difficult time, working to ensure you can hold onto the property you have worked so hard to obtain.

The Difference Between Community and Separate Property in a California Divorce

In Ontario, CA divorce cases, you will hear two specific terms when it comes to defining property: community property and separate property. California operates as a community property state, meaning that all assets that were acquired by either spouse during the course of their marriage will be subject to an equitable split. It is important to keep in mind that equitable does not necessarily mean this division will be perfectly even.

Separate property is not subject to division during a divorce in Ontario, CA.

These can include:

• Any property which was obtained prior to the marriage or after the official date of separation.
• Any property that was acquired by either spouse as a gift.
• Any property which was acquired through an inheritance to one of the spouses.
• Any profits, interest, or rent earned on a property that came under the ownership of one of the spouses prior to the marriage.

Community property, or any property that was obtained by either spouse during the course of the marriage, would be subject to an equitable split. These forms of property tend to include the following.

These debts can include the following:

• Any real estate holdings, such as the family home, rental properties, land, or vacation properties.
• Bank accounts, including joint bank accounts, certificates of deposit, or savings accounts.
• Investments, including any mutual funds, stocks, bonds, retirement accounts, and brokerage accounts.
• Any vehicles, such as cars, boats, motorcycles, or recreational vehicles that were acquired during the course of the marriage.
• Household items that were obtained during the marriage, such as furniture, appliances, electronics, artwork, collectible items, antiques, and other personal belongings.
• Business interests that were established during the marriage, such as ownership stakes in businesses, partnerships, professional practices, and closely held corporations.
• Debts, including any mortgages or home loans, credit card debt, personal loans, auto loans, business debts, and tax liabilities owed or owned by either spouse.

Signs Your Spouse Is Hiding Assets

One of the most difficult aspects of a property division case is that which arises when you learn or suspect that your spouse is hiding assets. While not all of these behaviors strictly indicate that there is malicious or intentional concealment going on, they can be red flags that signal your spouse is hiding assets from you and your legal team.

These signs can include:

• Changes in financial actions or behavior: Your spouse may be hiding assets if they have started to exhibit changes in their behavior regarding finances, such as acting with sudden secrecy, making unexplained transfers or withdrawals, and limiting your access to financial records.
• Discrepancies in finances: If you begin to make note of inconsistencies in your financial or financial documents, like tax returns, investment statements, or bank statements, this might signal that your spouse is trying to conceal income or assets.
• Unusual transfers or sales of assets: It can be wise to keep an eye out for any unusual sales or transfers of assets, especially ones that have been conducted for seemingly no reason. Your spouse may be trying to move assets out of your reach or turn them into a form that is more difficult to trace.
• Becoming uncooperative or evasive: If your spouse begins to act in an uncooperative or evasive manner when it comes to your finances or providing you with financial documentation, this should raise concerns regarding their concealment of assets.

Property Division FAQs

Q: What Are the Most Common Methods of Asset Division?

A: In California, there are a couple of options when it comes to dividing community or shared debts and assets. In some cases, debts and assets can be assigned to one spouse in exchange for debts and assets of equal value. In other situations, one spouse may buy out the other spouse’s share of the asset, or the assets can be sold, and the couple can split the profit.

Q: What Happens If We Own Property in Another State?

A: If you and your spouse own property in another state, that property can be divided according to California community property laws as long as the property was acquired during the course of your marriage. This property is typically referred to as “quasi-community property” as it would be considered community property if it were located in California.

Q: What Can Make a Property Division Be Considered High Worth?

A: A property division case may be considered high worth or of high net value if certain assets are owned by the divorcing couple. The most common assets considered to be of high worth include business interests, professional practices, such as a medical or legal practice, and if the estate of the couple totals to an exceedingly high amount.

Q: What Is the Process for Property Division in California?

A: The first step in a property division in California will be to identify all assets and debts that need to be split under the state’s community property laws. Then, debts and assets need to be evaluated and assigned a monetary value. Following this step, you and your spouse can negotiate how these assets will be split. If you cannot reach an agreement in negotiations, you will need to look to the courts to make this decision.

Speak With a Legal Advocate in Ontario, California Today

If you are facing a divorce and property division in Ontario, California, you deserve a legal team that is ready to advocate for your interests and protect your rights. Contact our offices today and learn why we are a trusted asset division law firm.