Property Division

woman cringingCalifornia recognizes two kinds of property owned by married persons, Separate Property and Community Property.

Separate Property includes property owned by a spouse before marriage as well as all property acquired by the spouse after marriage by gift or inheritance, as well as money earned after date of separation.

Community Property  consists or earnings and accumulations acquired during the marriage while the parties are domiciled in California. This includes pension plans that accumulated during the marriage.

Upon dissolution of marriage, Community Property is to be divided equally, but Separate Property is not subject to division unless it has been commingled or by some other means lost its Separate Property nature, for example by using some Separate Property and some Community Property to acquire a home.

There may be tax consequences as a result of property transfers between parties.

In order to maximize your fair award of community property and ensure that you receive all your separate property, we need to review all your assets together, including when they were acquired, what you paid for them, what they are worth today.

 

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