California is a community property state for Divorce. This means that community property, i.e. assets that are purchased from the date of marriage to the date of separation, are equally divided between husband and wife. However, this is not as simple as it sounds.
Disputes can arise for a variety of reasons and over a variety of issues such as real estate division, retirement plan division, cash assets, vehicles etc.
Some examples of disputes are:
- when an asset is gifted or inherited
- when both parties work in a business that was considered ‘separate’ property
- when both parties contribute or make upgrades to real estate that was considered ‘separate’ property.
These are some examples of the kinds of issues that can arise when differentiating between ‘community‘ & ‘separate property‘. One of our experienced Divorce Lawyers will determine what percentage of the asset is ‘community’ and what percentage is ‘separate’.
Further, retirement funds, pension funds as well as investment vehicles should all be assessed as to whether they would be considered ‘community property’ or not. Either all, or a portion, of the investment vehicle or pension could be considered community property and as such would be divided according to community property rules.
With more than 35 years’ experience, Legal Action Workshop is well-positioned to answer your questions with regard to community property. Further, our Flat Fee model helps you save money while getting the Attorney advice and oversight you need. For answers to your questions, call us @ 1-800-HELP-444 (1-800-435-7444) or visit our website @ www.LegalActionWorkshopLAW.com .