When a marriage ends, determining how to divide the life you built together can feel overwhelming and deeply stressful. Navigating the division of property during a divorce is one of the most challenging aspects of the process, especially when significant assets or complex financial issues are involved. At Gilligan, Frisco, Trutanich & Sarris LLP, our experienced Family Law Attorneys understand the complexities and help clients navigate property division with a clear, informed strategy. We understand how daunting it can be to sort through assets, debts, and long-term financial decisions, and we are here to help you through every step of this complicated process.
Understanding California Community Property Law
California Family Law presumes that most assets acquired during the marriage are jointly owned, referred to as community property. Under California Family Code Section 760, community property includes essentially everything you and your spouse acquired during your marriage while living in California. Both spouses have equal ownership interest in community property, regardless of which spouse earned the income, whose name appears on the title or account, which spouse managed the asset, or whether one spouse contributed more financially.
Each spouse can have separate property as well, typically assets owned before the marriage, inheritances, or gifts made to one spouse. This separate property may remain individually owned and not be subject to division in a divorce if the asset is properly documented. Many individuals find this distinction confusing, especially when accounts have been combined or property has increased in value during the marriage. We help you understand how the law applies to your unique financial landscape so that you can make informed decisions.
We regularly assist clients with complex asset division in California involving real estate portfolios, business valuations, professional practices, investments, retirement accounts, intellectual property, and digital assets. When assets are commingled, when records are unclear, or when valuation is contested, the process can feel intimidating. We can help you evaluate each asset, understand how it may be divided, and determine the best approach for protecting your financial future.
Obtaining an accurate valuation of your assets is part of our process. We work closely with forensic accountants, business valuation firms, real estate appraisers, and financial analysts to ensure every asset is properly understood. These established relationships allow us to provide comprehensive and credible valuation support—critical in high-net-worth divorce in California or when one spouse has controlled the finances.
Business Ownership
When a spouse owns a business, property division becomes more complex because the financial records rarely tell the full story. Business ownership in a divorce can create differing positions in the valuation of the business, the characterization of the asset, and the extent to which any growth during the marriage should be treated as community property. As part of this analysis, we also examine the income available for support, since business owners have greater control over how income is reported. We help open the books to ensure that personal expenses paid through the business are properly characterized, that “paper losses” such as depreciation do not distort the financial picture, that any benefits or perks received through the business are accounted for, and that the business owner’s true earning capacity is accurately assessed.
We guide clients through every stage of the California divorce process—from mandatory disclosures and financial review to negotiation, mediation, and litigation. We can help you understand the numbers, explore settlement options, and pursue an outcome aligned with your long-term well-being. You do not have to navigate complex California property division alone. We can help you move forward with clarity and confidence.
At Gilligan, Frisco, Trutanich & Sarris LLP, we provide strategic guidance to help you understand whether your business is separate or community property, what valuation methods are appropriate for your specific situation, what the potential valuation date implications might be, and what settlement options could protect your interests most effectively.
We conduct thorough discovery to ensure all financial information is disclosed, and we utilize forensic tools when necessary to uncover hidden assets or financial manipulation. We critically analyze expert reports to identify the most beneficial circumstance for your situation. We explore all settlement options beyond simple buyouts, seeking creative solutions that preserve business operations while ensuring fair division of marital assets. And when settlement is not possible, we advocate for your best interest and use evidence-based methods to support your position.
Our experienced team has decades of experience handling complex financial issues in divorce, including intricate business valuation matters. We have backgrounds in business and civil litigation that give us unique insights other family law attorneys may lack. We will stand firmly by your side throughout this difficult process.
We cannot leave the value of your life’s work to chance. Gilligan, Frisco, Trutanich & Sarris LLP has the experience and knowledge to guide you through this process. Our practice is focused on the unique Southern California courts, including Los Angeles County and Orange County. Contact us today to schedule a confidential consultation with our experienced attorneys. We will evaluate your situation carefully, discuss your rights and options under California law, and develop a comprehensive strategy to protect your interests throughout the divorce process.