According to California Family Law, anything acquired during the marriage, regardless of which spouse purchased it, is presumed to be community property and subject to equal division during divorce or legal separation.
Is It Separate Property Or Community Property? One of the first steps that needs to be taken prior to dividing property is to determine what items are separate property. Separate property is any property you acquired prior to the marriage, since separation or during the marriage by inheritance, bequest, devise and/or gift and any accumulations to that property. All else is considered community property and subject to equal division.
We understand how to address property of all types, including homes, cars, retirement accounts, businesses and even family pets.
How Much Is It Worth? It is important to understand how property is valued by the court. Your household property, from the television set to the furniture, is not worth what you paid for it. Replacement cost is not the value of the property. Property is worth what it could be sold for at a garage sale, which in most cases is not much.
While these issues can lead to heated disputes, it is important to look at the big picture. At Primus Family Law Group, our attorneys pick our battles wisely, saving our client’s time and money in order to focus on what is important for the client.