Did you know that California is what is known as a “community property” state? One of the 9 states in the union where community property law applies, all California residents in the process of dissolving their marriage or considering beginning that process should be familiar with division of community and separate property. Read on to learn what you need to know, and contact the skilled Irvine divorce attorneys at Sullivan Law & Associates for all your divorce-related needs.
Property Division 101: Community vs. Separate
Traditionally, there are two kinds of property up for division at the end of a marriage, community and separate. Separate property is traditionally considered anything either spouse entered into the marriage with. In addition to various possessions they owned prior to the marriage, this may also include inheritances or gifts they received either before or during the course of the marriage. In essence, it is property the other party has no connection to, legal or otherwise. Community property, on the other hand, is traditionally defined as everything both parties owned together during the course of the marriage. This may include any property either spouse purchased or obtained while they were married, regardless of which spouse specifically purchased of obtained said property.
Examples of community property include:
- Income
- Businesses
- Investments
- Bank accounts
- Stock portfolios
- Mortgages and the family home
- Other real estate
- Cars, boats, and other forms of transportation
- Jewelry
- Furniture
- Art
- Other assets
Protect What Is Yours, Hire a California Divorce Lawyer
Divorce is difficult for almost everybody, regardless of the circumstances. Yet it is even more difficult when you do not have a trusted attorney by your side. At Sullivan Law & Associates, our team has decades of legal experience, and will always fight to secure the best outcome for you. From property division to child custody, our Irvine divorce lawyers will protect your interests every step of the way. Family law matters can be complex and emotional, but your divorce does not have to signal defeat. Begin the process of getting your life back, and hire the professionals at Sullivan Law & Associates today.
Our firm is available by phone at (949) 590-8100, or you can contact us online to schedule a consultation.