In divorce, one of the most challenged issues is the matter of asset division. Both parties may feel that you are each entitled to a specific amount of marital assets or property. However, when you leave this decision to the court, they will likely use a formula to divide your assets. They will not have the same information you and your spouse have about particular property or debt, or have the time to attend to all of your concerns.
At OC Divorce Mediation Center, our Orange County divorce mediators can work with you to help you decide which assets should be divided and how.
All marital property is subject to be distributed in a divorce. If you leave the decision out of the court's hands, you and your spouse can meet with a mediator to discuss how your asset and debts will be divided. You will have to determine if you want to split things 50/50 or if there are particular debts or assets for which each person will take responsibility. Once decisions are made, it will be entered into your settlement agreement.
Our divorce mediators in Orange County can help guide you to make a decision on whether mediation or litigation is right for you. If you and your spouse are unable to come to a decision about asset division on your own through mediation, you will need to go to litigation. The judge will consider any property which was acquired during the marriage to be marital property, except for inheritances or gifts.
We understand that this subject can be confusing and present a variety of problems or questions. You can rely on us to provide you with sound guidance and address all of your concerns. With 45+ years of combined experience, we have helped many families navigate the complexities of divorce mediation and asset division. Contact us to schedule an initial consultation.
To start with an initial consultation, call our office today at (949) 565-4151. We are located in Ladera Ranch & Irvine.