There are few things worse than getting a divorce. Unfortunately, for many people, divorce is something they have no choice but to go through, and if you are one of them, you’re most likely concerned about your future and how a divorce may impact it. One of the most common questions we receive when dealing with those going through the divorce process is “what will happen with my personal belongings?” For example, if you have a collection of expensive designer clothes, you likely consider those to be 100% yours, however, since California is a community property state, this may actually not be the case. Please continue reading and reach out to a dedicated Los Angeles divorce attorney from our firm to learn more about what happens with high-value property, such as collectibles, when a couple gets divorced and how our firm can help you protect what’s yours. Here are some of the questions you may have:
What happens with high-value property when a couple gets a divorce in CA?
As someone with a collection of high-value property, such as designer clothes, expensive jewelry, sports memorabilia, luxury vehicles, or otherwise, you’re most likely curious as to whether your spouse will be entitled to a portion of that collection. California is a community property state, meaning courts will distribute marital property evenly between spouses in a divorce. Marital property typically includes all property acquired during the course of a marriage, and if you built your collection while married, this property may be up for grabs, especially if you can’t reach an agreement about this property on your own. In most cases, we will have to hire a third-party expert appraiser who can set a value to these collections, and, often, this property will be sold and the proceeds split between spouses.
Is there anything I can do to protect my property from a divorce in California?
Fortunately, there are certain things you can do to protect your personal property from a divorce, such as drafting a prenuptial or postnuptial agreement. These agreements can outline exactly what will happen with certain assets, should you ever get divorced. The main distinction between them is that prenuptial agreements are drafted prior to marriage, while postnuptial agreements are drafted after marriage. If you have any other questions or you need an attorney who can represent you, our firm is here to help. Give us a call today.
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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.