When individuals divorce, they may wonder how their assets will be divided. Because property division laws can vary from state to state, California residents may wish to understand proceedings for their specific area. This state is known as a community property state, and marital assets are often split as equally as possible between the two parties going through the divorce. Other property is known as separate property.
Separate property includes assets that were owned by either party before getting married or property that either party took ownership of after the separation. Certain assets gained during the marriage may also be considered separate, such as inheritances and some gifts. Property identified in a prenuptial agreement may also be deemed separate. Separate property commonly remains the property of whichever spouse was the original owner.
In a community property, marital property is considered to be equally owned by both spouses. As a result, marital property is often divided 50-50 between the parties. If individuals would like to work toward maintaining ownership of a certain piece of property, they may wish to determine what legal options may help them do so.
Parties who are concerned with how their property division proceedings will go will want to gather more information. By becoming more knowledgeable, it's possible to have a better idea about what to expect during California divorce proceedings and what steps may be helpful to maintain ownership of certain assets. Discussing specific concerns with an experienced family law attorney is the best place to start.
Source: Forbes, "50 Ways To End Your Marriage: Divorce Laws Vary Widely From State To State", Jeff Landers, May 24, 2016