California is a community property state. This means that unless you have a premarital agreement that states otherwise, most assets and debts you and your spouse accumulated during your marriage will be divided.
At the Law Office of Linda D. States in Sacramento, I will take the time to help you identify and divide the community property during divorce. As your lawyer, I will also help you identify and protect your separate propert y. Call 916-696-2425 to arrange an attorney consultation.
What Is Community Property?
Community property includes the assets and debts you and your spouse acquired from marital efforts or time. During a divorce, it is necessary to determine which property came from marital efforts or time, and which property you owned prior to the marriage or gained from gifts or inheritances during the marriage.
Examples of community property include:
- Vehicles acquired during the marriage, regardless of whose name is on the title
- Retirement benefits earned during the marriage, regardless of whose name is on the account
- Real estate, including property acquired during the marriage as well as marital contributions to real estate acquired by either party prior to the marriage
- Household furnishings
- Interest in a business
- Money, stock, stock options and other assets accumulated during the marriage
- Credit card and other types of debt
How Is Community Property Divided?
Community property is divided equally, unless you and your spouse have an agreement to do it differently. There are many ways to divide community property. Here are some examples:
- Dividing each and every asset equally
- Divide assets into groups of approximately equal value
- Providing an additional share of marital property in lieu of paying spousal support
Pretax retirement benefits are divided separately from assets that have already been taxed.
Learn more about high asset property division.
For Help With Martial Property Division
To discuss your property issues with an experienced family law attorney, call me at 916-696-2425, or fill out my online contact form.