Determining And Dividing Community Property
At Larose Law, we know that the division of community property can be confusing. Our divorce lawyers are here to explain how the law applies to your assets and marriage.
The general rule in California is that property acquired after the date of marriage, by either or both spouses, belongs entirely to the marriage. This usually means it will be divided equally, at divorce.
One of the first questions clients ask of us is to know what is, and what is not, property that belongs to them and their spouse.
How about property, or a business, that belonged to your spouse, before you were married? It could be community property, depending on certain facts that may have occurred after you got married. But even if it is not, your marriage might still be entitled to compensation and money — even if the property or business was owned by your spouse, before you got married.
One of the first things we will do is work with you to determine what is, and what is not, community property. We will then investigate, confirm, and re-evaluate, after your divorce begins.
That does not mean every asset and every account has to be divided. In fact, in many settlements, there is agreement for one spouse to keep all of a particular account, like a 401(k), in exchange for the other spouse retaining all of another account or some other asset.