How Community Property Laws Can Affect Your Divorce
Though not a widespread practice in the United States, community property laws affect at least a quarter of married Americans. In states that favor community property, like California, these laws can be both beneficial and detrimental to those in a union.
On the one hand, they can protect your marital assets in the event of your spouse’s death. But on the other, issues can quickly arise should you need to dissolve your marriage. At Miller & Associates, Attorneys LLP, we want to help you understand what community property is and how it can impact your life after a divorce.
The Difference Between Communal And Separate Property
Simply put, the difference between communal and separate property is when you acquired it. For example, holdings or obligations you amassed before your marriage falls into the separate category. Meanwhile, the resources obtained during your marriage, with some exceptions, become communal property.
This can include any income, property or debts accumulated during the partnership, such as:
- Salaries and retirement accounts
- Commercial or personal real estate
- Material assets and various loans
- Stock dividends or capital gains
Because of the complex nature of such financial matters when dividing property, it may be in your best interests to contact an attorney.
Aggressive Attorneys Ready To Protect Your Assets
If you or your spouse decides to end your relationship, navigating property division issues can be confusing, but we can help. No matter how complicated your circumstance may be, when you seek our counsel, you can trust us to aggressively protect what is yours.
To better support your claim, we work with a network of forensic accounting experts to trace and verify your assets and provide evidence in court, when necessary. Reach out to us at our offices in Rocklin, Folsom or Roseville for more information on this process and our services. Call us at 916-677-4971 or contact us online to schedule a free initial consultation today.