California is a community property state which means, in simplified terms, that the Court strives for an equal division between the parties of assets and debts acquired during the marriage. Therefore, in a divorce in California, all property acquired during the marriage is split 50/50. Parties may also be entitled to receive reimbursement for separate property contributions to the acquisition of community property, post separation expenditures toward community debt, and other reimbursement claims as permitted under California law. It is our job (often with the help of a forensic accountant) to determine what claims are available to a client and then to assist the client in determining whether it would be cost effective to pursue those claims.
Our philosophy in this area is quite simple. We strive for a fair outcome. All of our efforts are devoted to a division of the marital estate which is as fair as we can make it and which takes into account the financial resources needed to continue the legal process. We often remind our clients that we do not want to spend $1,000.00 to gain $500.00. We strive to reach a result which is cost effective for our clients and which is fair.
During the divorce process we work closely with forensic Certified Public Accountants to insure that the division of the marital estate is fair and that our clients are well educated in the tax and other consequences or other benefits associated with the division of the marital estate.