Property Division Lawyer
The Law Offices of Gregory I. McMurray, P.C.
Santa Barbara, CA
Property Division Lawyer
Santa Barbara 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.
How Is Property Division Done In California?
In California, division of marital property in a divorce starts from a premise of a 50-50 sharing of assets and liabilities. 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.
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 case. Some property items are easily valued, such as a 401K with a specific balance amount. However, other marital assets require more complex valuations.
Are Homes and Businesses Part of The Property Division?
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 the 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 workforce
- 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/disadvantages.
We will fight to help you maintain the lifestyle you had while you were married.
Contact Us For Property Division Help
If you are seeking to file for divorce or have been served a petition for dissolution of marriage, contact our office. We know how difficult the end of a marriage can be for you and your family and will help handle all of your divorce needs in these challenging times.
Call our Santa Barbara office today at 805-965-3703, email us at [email protected] or use the form below. Naturally, we offer a free initial consultation.
Our Commitment To You
At the Law Offices of Gregory I. McMurray, P.C., we are committed to providing the highest standard of service. We understand that clients hire our firm for results, and they also expect quality service.
Our goal in each case is to exceed our clients' expectations. Our attorneys, Gregory McMurray and Elvia Garcia, are experienced trial lawyers who have been handling family law, criminal law, personal injury and estate planning cases for more than a decade. When you need an attorney, you'll be glad you choose us. We can be reached at 805-965-3703 or email us at [email protected] .
When a advocate for children and families hears of an attorney who is doing a great job at fighting for the families in the broken juvenile system and against the broken system of CPS… I just want to thank you from many families as you are a rare Gem to find! Thank you so much and pray for many blessing for your life and know you are a RARE find!
I hired Ms. Garcia about 6 months ago to represent me in my dissolution of marriage action. Divorce was a very hard decision for me to make, but from the first call I had with Ms. Garcia, she made me feel comfortable. She kept me informed the entire process. She was very responsive and always willing and able to answer any questions of concerns. I cannot thank her enough for her expertise and making this process easier than I had expected. I definitely recommend her to anyone.
I couldn’t recommend Elvia highly enough. When the legal system left me hurt and confused, she fought fiercely and got me results.
Elvia believes in what she does and her passion shines through in her work. She couldn’t have done a better job for me and I know she’ll fight just as successfully for you.
A very good friend of mine referred me to Mr. McMurray. He is an extremely intelligent person. He is diligent in his work and a true advocate for his clients. He takes a personal interest in understanding how you want to be represented. He then brings a wealth of experience and knowledge of the law and manages your case in an expedient way.
Contact Us About Your Case
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