There are two types of property involved in a divorce or separation: community and separate property. Community property consists of assets and debts that were obtained while married, subject to certain exceptions such as gifts or inheritance. Separate property is made up of those assets and debts, which were obtained prior to marriage or after the date of separation, in addition to gifts and inheritances that were received over the duration on the marriage, subject to certain exceptions. California is a community property state which means that California statutes mandate that all community assets are divided equally between spouses in a divorce or dissolution of a domestic partnership. However, there are many exceptions to these rules and you should always consult with an attorney regarding your specific situation.
In addition, California is a “no fault” state which means that your marriage history will not supposed to have any influence or relevance in the court’s decision regarding the division of property. For example, if one spouse was unfaithful it does not mean that they are entitled to less or any form of punishment in a divorce. Equal division of the property is based on the net share of the value of all property, after the total amount of debt has been deducted. Any records available play a large role in calculating the value of assets and debts and it’s a good idea to keep detailed records. Exchanges for certain assets and negotiation between spouses is permitted and can be negotiated by your attorney. Mach Law will take a careful inventory of all assets, debts, gifts, inheritance, etc. that you have acquired to determine and protect what is rightfully yours.
Mach Law Is Here to Serve Your Legal Needs
Mach Law is dedicated to serving San Diego’s family law needs. You may be overwhelmed or going through a difficult time and we would be honored to be at your side to advocate on your behalf and guide you through the legal process. Let us help you and your loved ones. Contact us for all of your questions regarding family law with a free consultation by giving us a call at (619) 398-3468 today.