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Property, Asset & Debt Division

Divorce Attorneys in Irvine, CA

In a divorce, it will be necessary to divide property, assets, and debt. This task can be daunting, and the consequences of a mistake can be devastating. Considering the high stakes of any divorce, particularly the financial implications of property and debt distribution, it is important to have an experienced divorce attorney on your side to properly present your case and protect your interests.

Even a seemingly simple divorce for a middle-class family may involve a home, vehicles, bank accounts, and a considerable amount of debt to address. In high net worth divorces, the stakes are even higher and the proceedings more complicated, as investment accounts, real property, and business ownership may be involved. From complex high asset divorces to traditional divorce proceedings, our Irvine divorce attorneys at Sullivan Law & Associates are skilled and ready to help.

With decades of experience and a commitment to quality counsel, our divorce lawyers are ready to assist you. Call our firm at (949) 565-2793 to get started.

Community vs. Separate Property in an Orange County Divorce

Because California is an equitable distribution state when it comes to property, debt, and assets, these will be fairly distributed amongst divorcing spouses. It will be necessary to determine what is classified as community property and what is classified as separate property, as only community property will be subject to distribution.

Here is a quick overview of community versus separate property:

  • Community property may include everything that spouses own together, including all property that was purchased or obtained during the marriage. This may include the family home and other real estate, furniture, jewelry, bank accounts, cars, etc.
  • Separate property includes anything each spouse owned before the marriage. It also includes inheritances or gifts received by a spouse, even if they were received during the marriage.

Experienced Property Distribution Counsel

Richard Sullivan, our founder and principal attorney, has been practicing law in Orange County since 1978. He has tried over 15,000 cases and has seen it all. He leads our team of experienced divorce lawyers to litigate and negotiate for fair property and debt distribution in our clients’ divorces. With our intelligent representation and commitment to understanding and addressing our clients’ immediate and long-term financial goals, we can provide effective counsel in these matters.

Contact Sullivan Law & Associates at (949) 565-2793 to learn more about your property rights in your divorce.

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