This means that property is characterized as either community property or “separate property.”
In general, a court will divide only the community property equally between parties of a divorce. There are some circumstances in which a division is something other than a 50-50 split. However, this is based on statutory factors and involves a case-by-case analysis.
The issue of which property is community property and which is separate property is one of the more disputed issues in property division. Remember, property includes both assets and liabilities. If property is deemed separate, it will go to the person whose property it is. In general, separate property is property acquired by a person before the marriage or by gifts, or by inheritances. Student loans are frequently separate debts but can be community and in some instances are treated as a hybrid of community and separate debt. Proof that something was a gift is often circumstantial and harder to prove. If an item is significant enough and disputed, this requires a deeper analysis and tracing of financial records. With a proven track record and years of experience in property division, I can effectively handle these types of disputes for you.
Property can include:
- Businesses or partnerships
- Retirement assets
- Real estate
- Personal property such as cars and furniture
- Debts and liabilities
