Before spouses can finalize their divorce and part ways, they must first
legally divide their shared assets, property, and debts. However, not
all property acquired during a marriage is considered community property.
If one spouse owned or inherited property before the marriage, it may
be considered separate property. This could also apply to any property
that is solely in one spouse’s name, so long as the spouse can prove
ownership via financial records or title documents. .
However, separate assets and property can become community assets inadvertently.
For example, if a husband moves into his wife’s home and makes mortgage
payments, the house could be considered community property by the court.
It’s important to review your assets and property with a divorce
attorney prior to starting any distribution negotiations.
Luckily, there are some steps you can take to ensure your personal property
is still yours once the divorce is finalized.
Create a List of Your Personal Property
Ideally, you should start this list right after you say, “I do,”
but that’s hardly romantic or realistic. Even so, it’s important
to keep track of what property you and your spouse own individually and
mutually. This simplifies the overall division process and helps you prepare
for any negotiations. Your spouse can’t counter your ownership claims
if you took the time to gather evidence. However, remember that any purchases
made with community accounts may be considered community property in court.
Also, you may not get back any items you purchased as a gift for your spouse.
Gather Evidence
Once you have your list, you can gather financial documents, receipts,
and ownership deeds to prove you are the sole owner of any property being
questioned. For example, if one spouse purchased a car that is solely
in their name and paid for with separate funds, then the other spouse
can’t claim ownership to it. Again, an exception to this policy
is if the property was purchased with a shared financial account.
Draft a Prenuptial or Postnuptial Agreement
Prenuptial and postnuptial agreements solve many marital problems and simplify
the overall divorce process. Both documents list how assets, properties,
and debts should be distributed in the event of divorce. The court typically
accepts the terms of these valid legal documents, so long as a spouse
or a child isn’t threatened by financial instability.
Schedule a Consultation
At Arnold Law Group, APC, we strive to help families develop satisfying
solutions to their legal conflicts. Our compassionate
Fresno divorce attorneys can represent your interests and help you negotiate a fair distribution
of assets. Our firm has over 30 years of family law experience and represents
clients in the Madera, Tulare, and Fresno counties.
Have concerns about your divorce? Contact our Fresno divorce attorneys
at (559) 900-1263 schedule a consultation.