Property Division

Santa Barbara Divorce & Property Division Attorney

Property division is one of the most fiercely contested aspects of a divorce. Many disputes result from an emotional tie to valuables and a misunderstanding of the law. Division of marital property in a divorce starts from a premise of a 50-50 sharing of assets and liabilities in California. In California this means that both spouses will equally share in the property and debt that is accumulated between the date of their marriage and the date of separation. However, in most cases, the actual property division does not end up being 50-50. There are a number of factors that a family law judge can look at to determine whether a deviation from that 50-50 sharing of assets is warranted.

At the Law Offices of Gregory I. McMurray, P.C., we are well versed in the valuation of property, assets and debt in a divorce cases. Some property items are easily valued, such as a 401K with a specific balance amount. However, other marital assets require more complex valuations. Homes may need to be valued via the services of an expert appraiser. Businesses may require a business valuation expert. Pensions are often divided via what is called the “Time Rule Formula.” Knowing the value of each property item is important because property is not automatically split in half. Rather, whether done by the court or agreement of the parties, the key is to generally mix-and-match assets such that each party ends up with a roughly equal share of the proverbial marital pie.

There are many factors a family law judge considers in deciding the precise division of marital assets in California, the following a few factors that are considered:

  • Age of the parties
  • Length of marriage
  • Difference in income
  • How long one spouse has been out of the work force
  • Whether one party has a large amount of non-marital assets

High-Net Worth Divorce

It takes a skilled and experienced professional to address complex property division issues. We often assist clients in high-net worth divorces. We can efficiently assist you in valuing businesses, large retirement accounts, investment portfolios and high-value real estate. If you or your ex-spouse is self-employed, we can identify sources of income, hidden income, and tax advantages and disadvantages. We will fight to help you maintain the lifestyle you had while you were married.

Contact Us

If you are seeking to file for divorce or have been served a petition for dissolution of marriage, contact the Law Offices of GREGORY I. MCMURRAY, P.C., we know how difficult the end of a marriage can be for you and your family, and we can handle all of your divorce needs in these emotionally challenging time. Call our Santa Barbara office today at 805-965-3703 or email us, we offer free initial consultations.