Asset Distribution, Divorce Apportionment

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You have decided to split up with your spouse, and you’re beyond ready to move on with your life. You can’t wait to feel the freedom to live life on your own terms and to start living life to the fullest.

Not so fast, though.

Before you can bid adieu to your future ex-spouse and start fresh, you must address asset distribution in divorce. This aspect of the divorce process is multifaceted, but with an attorney’s help, you can navigate it with confidence from start to finish.

Here’s a look at what asset distribution, also known as apportionment or property division, involves during a divorce proceeding in California. We’ll also take a look at some asset allocation strategies you can use to your advantage when dividing property in the Golden State.

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Apportionment: Legal Definition

Apportionment involves the process of dividing your and your spouse’s jointly owned property, or community property. When it comes to asset distribution during divorce in California, the family law court will split your property equally—or 50/50—based on the community property principle.

This task isn’t generally too difficult when you’re trying to split bank accounts that you both opened during your marriage, for example. However, other assets are harder to split based on the apportionment legal definition in a community property state like California. For example, how exactly do you split your marital home down the middle? And what if you acquired a certain asset before you got married but committed jointly owned funds to this asset?

Let’s take a look at how to address these scenarios when going through asset distribution in divorce.

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Property Division Involving Real Estate

If you owned a home by yourself prior to getting married and refinanced it in both your and your spouse’s name when you got married, your home is no longer deemed separate property. Instead, it is community property, which means that it is subject to asset distribution in divorce. However, if you kept it as separate property during your marriage, meaning that your spouse did not contribute any funds or resources to it, then it will remain your property after you divorce.

So, let’s say that you determine that the real estate you own is community property. What now? In this situation, you have a couple of options when it comes to asset allocation strategies. One, you could sell the house and split the profits of the sale with your spouse during the divorce proceeding. Two, you could keep the home and give the other party another asset whose value is equivalent to that of his or her share of the home. This other asset could be cash, for example.

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Property Division Involving Retirement Savings

Retirement plan money must also be split with your future ex as you navigate asset distribution during divorce. If your spouse earned a pension while you were married, then you are entitled to receive a portion of this defined benefit plan. Likewise, with a defined contribution plan, like a 401(k), you must divide the money accumulated in the plan. Again, only 401(k) contributions that were made during the course of your marriage create what’s known as a community property interest.

As a general rule of thumb during divorce, the name listed on an account or piece of property doesn’t automatically determine who actually owns the asset. In addition, the timing of an asset’s acquisition doesn’t determine this, either. Rather, how the asset was funded determines who owns the asset and how much of it he or she owns. Figuring all of this out can certainly be complicated, but an attorney can guide you through it so that you make the right decisions in light of your particular circumstances.

Enlist the Help of an Attorney Who Can Help You with Asset Distribution During Divorce

If you’re ready to divide your assets during your divorce proceeding, it’s paramount that you understand the apportionment legal definition and how it applies in your and your spouse’s case. After all, no two divorce proceedings are alike. And the decisions you make during property division today will have long-term implications for your financial situation tomorrow and in the years ahead.

Fortunately, I, attorney Michael C. MacNeil, have personally been through the divorce process, so I understand what all is involved in asset distribution during divorce. Get in touch with me today to find out more about the best asset allocation strategies for your divorce situation. I’ll help you to pursue the most personally beneficial property division outcome possible.

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AndrewAndrew
19:29 10 Feb 24
I was dealing with a very malicious neighbor who filed baseless lawsuits as harassment to cover up their illegal construction. Michael sucessfully defeated them in court; and was also able to get them to pay my attorney fees, thereby detering further baseless lawsuits. Michael is unique in that he will work with his clients to devise feasible and successful court strategies, is affordable, is unassuming. and gets back to you when you have a question, unlike other attorneys. Michael also has a lot of experience since he spent many years as a deputy district attorney and in private practice dealing with a wide variety of civil and criminal cases. He knows his way around a court room. I was very satisfied with his representation and highly recommend Michael MacNeil if you need smart, effective representation.
Alan LewisAlan Lewis
23:53 20 Oct 23
As a former attorney, I can tell you that Michael is one of the best I've worked with. His advice is spot on, he gets the job done and doesn't overbill. If you're on the fence, this is your sign to hire him.
Angel RosarioAngel Rosario
22:39 05 Aug 23
Excellent Attorney. Got my issues settled quickly and fairly!
Jon ClaytonJon Clayton
03:59 28 Jan 23
Incredible. He is ethical and honest and what a family law attorney should be. He helped with a contempt issue and was spot on the entire time. He was easy to work with and incredible supportive. I would give him more stars if I could.
Shekia DrakeShekia Drake
02:48 13 Jan 23
I cannot brag on Mr. MacNeil enough!! I thank God for him and giving me strength to get through my divorce. It was rough, but Mr. MacNeil gave me reassurance that everything would work out through communication and helping me understand this whole process. He's very honest, fair, and goes above and beyond for his clients. His communication is ON POINT! I was worry-free throughout majority of this process. BTW... I was not paid or begged to write this review. He's just that awesome in my opinion.
Ken JetersKen Jeters
17:42 06 Jun 22
Mr. Michael MacNeil was my attorney for a very difficult divorce procedure. I could not have found a better attorney to represent me. Mr. MacNeil was exceptional in details, follow through, and outstanding representation in court. His knowledge, honest advisement and professionalism achieved a positive result that I will always owe him my debt of gratitude. I have never worked with a better attorney in my life.
Suzanne FoxSuzanne Fox
16:54 06 Jun 22
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