Divorce is a complex emotional, legal, and financial matter. Divorce often involves the division of assets, which means that you have a lot at stake. If you’re looking to learn more about how money and other assets are divided in a divorce, you’ve come to the right place. Please continue reading and reach out to a seasoned Los Angeles divorce attorney from Zitser Family Law Group, APC for more information. Here are some of the questions you may have:
How is money divided in a divorce in California?
When a couple gets divorced, courts will first determine what property is separate property and what property is community property. Community property is subject to distribution between the spouses, and separate property is not. Separate property typically involves assets acquired either outside of or prior to the marriage, such as gifts or inheritances. On the other hand, community property involves all property acquired during the course of the marriage, such as assets held in bank accounts, the marital home, vehicles, and more. In a community property state (which California is) all community property will be divided 50/50 between spouses. Therefore, in most cases, your money will be divided evenly between you and your spouse, should you get divorced.
Is there a way to protect my assets from a divorce in California?
Fortunately, there are ways to protect your assets from a divorce here in the state of California. To start, if you are not already married, you can draft a prenuptial agreement with your future spouse. Essentially, a prenuptial agreement will outline exactly what will happen with certain assets, should you ever choose to get divorced. That said, if you are already married, though you can no longer draft a prenuptial agreement, you can still draft something called a postnuptial agreement. A postnuptial agreement serves the same function as a prenuptial agreement, but they are drafted exclusively after marriage.
If you have any other questions about the divorce process, or if you need an attorney who can help you protect your hard-earned assets, please don’t hesitate to speak with our seasoned legal team today. We are here to preserve and protect your best interests through each step of the divorce process ahead.
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For the qualified, dedicated legal representation you and your family deserve and need through any family law or divorce matter, contact Zitser Family Law Group, APC today.