California Community Property
California is a community property state, and as a result, the basic principle that governs the division of assets upon divorce seems simple enough. Each spouse is entitled to one-half of the property that was acquired during the course of the marriage. As basic as this sounds, the financial reality of dividing assets can be complex. Remember, upon divorce you and your spouse are essentially selling everything you own to (a) each other, or (b) a third party.
Spouses who mediate their divorces enjoy the ability to divide their assets in the manner that best meets their respective needs. Allowing a judge to manage this task often leaves both parties deeply dissatisfied. Nevertheless, gaining a basic idea of how a judge might divide property if negotiations fall apart is a useful place to start.
While California guidelines related to community property division during divorce are specific, they depend on a characterization of assets, which can be open to various interpretations. The tracking, identification and distribution of marital assets can be complicated and deserves skilled, professional legal advice. Mr. Eisfelder, with the assistance of forensic accountants and investigators, has the insight and financial sophistication to resolve property disagreements and bring divorce actions to a timely and equitable conclusion.
In some cases, complex issues of business valuation, licensing agreements, intellectual property, goodwill and reputation are at stake. Mr. Eisfelder uses a team of accountants and investigators to assist him in assessing both community and separate property, including interstate or international assets, to determine the original source of the asset, its true value, its tax implications and its appropriate division.
In other situations, a former spouse may attempt to conceal property. In such cases, California courts have the discretion to award the entire asset to the other party. For these reasons, having an experienced, sophisticated trial lawyer is essential to representing your interests and getting a fair and equitable distribution of community property.
Mr. Eisfelder is experienced in the successful negotiation of marital settlement agreements and the litigation and trial of disputes involving community property division. His client list includes business professionals, entrepreneurs, homemakers and celebrities in film, television, music and sports and others throughout Southern California who have experienced a broad range of issues related to asset division and future earnings. Mr. Eisfelder’s legal team treats each client’s situation as unique, and strives to develop a solution tailored toward that individual’s goals and interests.