Identifying And Characterizing Assets And Debt
Determining which property was acquired jointly during a marriage and which was owned by one spouse prior to the marriage can be one of the most challenging aspects of property division. To ensure your interests are protected in this situation, consult with an experienced family law attorney.
My name is Mike Darlington. I help clients protect their assets and seek reimbursement in divorce and legal separation proceedings. With over 30 years of legal experience behind me, I will aggressively pursue your property rights in negotiations or the courtroom.
Untangling Community And Separate Property
Most property acquired jointly during a marriage is considered community property and is typically divided equally between the parties. Property owned by one spouse before entering the marriage is generally considered separate property and belongs only to the spouse who owns it.
However, there are instances when separate property is treated partially or entirely like community property. I have extensive experience characterizing separate property involving:
- Co-mingling of assets in a joint account
- Homes owned prior to a marriage
- Business interests owned prior to a marriage
- Inheritance issues
- Small businesses/family businesses
- Gifts received by one party and shared with the other
- Retirement accounts, including IRAs and 401ks
- Child support payments for other children during a marriage
When identifying separate property, I can help characterize your assets and maximize your reimbursement. Contact me at one of my offices in Redding, California, to discuss your situation.
Dividing Marital Debt
Generally, debts accumulated during the marriage are divided equally between the parties. Even if your spouse charged several thousands of dollars on credit cards, you may be responsible for half of that debt.
Understanding Complex Financial Issues
Before practicing law, I worked in the finance and banking industry. During this time, I developed a deep understanding of complex mathematical formulas. This background helps me understand intricate financial principles common in separate property and debt disputes.
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