Property Division

Thousand Oaks Property Division Lawyer

Property division is often one of the most complex issues in a divorce. This is particularly true in a California divorce, because we are a community property state.

Many of our clients are high net worth individuals who require attentive and experienced help with property division. We offer free consultations to discuss your matter. To schedule yours with a Westlake Village high net worth property division lawyer, call our law firm at 818-707-4233 OR 1-855-707-4233.

Definitions of Types of Property

Our Thousand Oaks property division attorneys can educate you about the types of property that can be considered in your divorce.

Community property: Community property is all property, real or personal, that was acquired by a married person during marriage. This can include homes, vacation properties, vehicles, boats, retirement accounts and more.

Separate property: Separate property is property that was owned prior to marriage or after the date of separation. Separate property also includes property that was acquired during marriage as a gift, bequest, devise or descent, including an inheritance or personal injury settlement.

Transmuted property: Each transmutation requires careful analysis. Transmutation occurs when, during a marriage, the spouses agree to change the status of any or all of their property, thus converting separate property into community property or community property into separate property. It can apply to any item with substantial value.

An example of transmutation: A husband owned a home in Malibu with $500,000 in equity prior to the marriage. After the couple married, they refinanced the home, putting title in both spouses' names, and it became community property. The home in Malibu is no longer considered the husband's separate property, with the exception of the original $500,000 in equity. If the husband was not subjected to undue influence — threats, coercion or duress — when the transaction occurred, the transmutation is considered valid.

Contact a Westlake Village High Net Worth Property Division Attorney

Our aggressive, dynamic approach to family law and our 35 years of combined experience have worked well for our clients. Find out what we can do for you. Contact Gumm & Green, LLP [Link to Contact Us], today and schedule a free consultation to discuss complex asset division. Call 818-707-4233 OR 1-855-707-4233.