California is a “no-fault” divorce state that mandates an equal division of community property The L.A. Divorce Lawyers at the Law Office of Mitchell A. Jacobs work tirelessly on behalf of our clients to ensure that they are treated fairly in any property division agreement. What is equal, what constitutes a marital asset and what is an asset’s value? All can have a dramatic impact on the outcome of a divorce agreement.

Other considerations include a spouse’s retirement income and the amount of credit card and other debt a marriage is carrying. That’s right: debt is property. Someone owns it. Who is responsible for paying it could have a significant impact on divorce proceedings. And failure of a spouse to pay in accordance with a divorce agreement can have a long-term negative impact on the other spouse’s reputation, credit rating and quality of life.

Hidden debt or hidden assets can also significantly influence the outcome of a divorce. Each party is required to prove a declaration of assets and liabilities. If the spouses cannot agree on the value of assets and the best way to divide assets and liabilities, then the decision will be left in the hands of a judge.

Before property can be valued and divided in a divorce proceeding there needs to be an analysis of it characterization as community, separate or quasi-community property. Our firm has extensive experience in the tracing, characterization and valuation of assets

At the Law Office of Mitchell A. Jacobs, we focus exclusively on the representation of clients in all types of family law matters and have decades of experience in handling property division on behalf of our clients.

If you are facing a divorce case in Los Angeles, contact the Law Office of Mitchell A. Jacobs for a confidential appointment to discuss your rights.