Property division in California divorces is complicated. California is a “community property” state. (one of Nine!) This means, in general, everything acquired after the date of marriage, and before the date of separation, is community property. All gifts and inheritance is always separate property, whether before, during or after marriage.
Although these concepts are relatively simple, certain transactions during the marriage – such as simple refinance or mixing funds from a separate account- complicate matters. Sometimes it is necessary to hire the services of a forensic accountant to help paint a clearer picture.
In a divorce, what’s separate and what’s community causes a lot of disagreements. For example, what if you purchased a home prior to marriage? What if you made payments on the house during the marriage from the joint account? What if your aunt gave you the downpayment? What if you paid off your student loans from the line of credit? These issues complicate matters.
What about stock options? Unvested stock options? What about retirement accounts and pensions?
Many issues arise in the the area of property division.
If you have any questions about the proper division of your assets, please contact us for a consultation.
If you have any further questions or need additional information about Property Division in California Divorce or other services, please do not hesitate to email firstname.lastname@example.org or call (626) 765-5767.