When a couple files for divorce in San Diego, one of the many aspects that must be addressed is that of asset and debt division. If the couple is unable to agree on how to divide their marital property and debt-which is all the property and debt acquired during the duration of the marriage-the matter will be decided by a judge.
This can include things such as:
- Marital home
- Work benefits
- Retirement accounts
Concerned about asset or debt division in your divorce? Our lawyers can help protect your interests. Call (858) 492-7968!
Factors that Judges Consider When Dividing Marital Property
If a divorcing couple is unable to agree on a final decision in regards to the division of property or debts, the judge will make a decision by considering the following factors:
- Each spouse’s power to earn income
- The health of each spouse
- The overall health of each party
- The amount each party contributed to acquiring marital property
- The amount each party contributed to the earning power and education of the other party
- The value of each party’s separate property
- The future monetary needs of each party
- Premarital agreements
Separate Property vs. Marital Property
There is a difference between separate and marital properties. Separate properties are any that were gained prior to marriage or were acquired as a gift or by inheritance. Marital property is any asset that is acquired during the duration of marriage using shared funds. During the divorce process, marital property must be divided. In some instances, separate property is also divided if necessary.
Of course, property and debt division can be highly complex, especially if both or one spouse has acquired much debt or properties prior to or during the marriage. For this reason, it is wise for individuals considering divorce to contact legal representation right away. Failure to do so can lead one or both spouses to suffer monetary problems for the remainder of their lives.
Our Team is Equipped with 200+ Years of Combined Experience
Our team of lawyers is backed by more than two centuries of collective experience in handling various divorce and family law matters. When handling asset and debt division cases, we take every detail into consideration along with the concerns and needs of those we represent.
With inclusion on the Super Lawyers® list, our attorneys are well-versed regarding this area of family law. In fact, ten of our lawyers are certified and identified as Board Certified Family Law Specialists. Their expert-level knowledge allows us to tackle cases with a strategic approach.
Have More Questions? Call Moore, Schulman & Moore, APC
If you have questions regarding asset or debt division, we can give you the answers you need to feel more at ease moving forward. With our help and experience on your side, your case will be finalized in the most timely and effective manner possible. It is our mission to make the divorce process less stressful for our clients. As soon as you get in touch with us, we will begin working on a results-driven strategy specifically for your case.
Contact Us Today to Speak with Our Skilled Legal Team
Certified Ten of our attorneys have earned the distinction of certified family law specialist.
Equipped Skilled in litigation and mediation, we are prepared to handle any type of divorce.
Attentive We respond quickly to clients and ensure they are always informed about their case.
Seasoned Our professionals have more than 200 years of combined family law experience.
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David Schulman Founding Partner & Board Certified Expert in Family Law
Erik Moore Founding Partner & Board Certified Expert in Family Law
Julie Westerman Partner & Board Certified Expert in Family Law
Jeremy Boyer Partner & Board Certified Expert in Family Law
Lauren Schmidt Partner & Board Certified Expert in Family Law
Kevin Polis Partner & Board Certified Expert in Family Law
Bryan Yerger Associate
Sarah Bear Associate
Jillian Minter Associate
Isabel Steinmetz Associate
Lindsey Dentino Associate
Kira Iwinski Associate
Lauren Haack Associate