California is a community property state. What that means in terms of your San Jose divorce is that marital assets are split 50/50 by the court. Under these circumstances, it is especially important to know the true value of all of your property when seeking a divorce.
Often, the biggest assets will be the family home and the retirement accounts. Dividing these fairly can involve a great bit of angst on the part of the divorcing spouses. For instance, you may be tempted to fight tooth and nail to retain the family home when your interests would actually be far better served by seeking a larger share of the retirement pensions.
Much of your decisions in these matters will be based on your age and the stage of life you are in when you divorce. Younger parents with children still living at home may do well to keep the home in their name only (if it can be refinanced that way). After all, you have decades to rebuild your retirement pension.
But older empty-nesters who will soon be able to tap into those retirement benefits should not be so eager to let go of these valuable assets. There is little time to recoup the hit your pension will take before it is time to start drawing benefits.
All these decisions must be considered carefully and weighed before taking any action that could impact the outcome of your property settlement. Make sure that you seek the counsel of an experienced San Jose family law attorney before settling the community property division portion of your divorce. We can help you get the assets you need to begin life anew as a single person looking toward the future.