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How do I figure out what property is mine?

How Do I figure out what property is mine

How do I figure out what property is mine and what belongs to my ex?

I’m William Ausman, the founder of 805 Law Group. One of the first questions that often comes up when someone is going through a divorce is how do I figure out what property is mine? What belongs to my ex. California is a community property state. Everything acquired from the date of marriage to the date of separation is presumed to be community property.

However, if you receive money or property from family or have assets before you are married, a good law firm can do some forensic accounting work to make sure you keep any assets that are rightfully yours. It also depends on things like whether you and your spouse had a prenuptial or postnuptial agreement, and how you accumulated your assets and debts. Here are some examples. Debbie and Lawrence jointly owned diverse marital property that needed to be distributed equitably between them. They had bank accounts to which they had both contributed, as well as real estate, retirement investments, and a home that they bought and remodeled together. Splitting these assets equitably would necessarily mean splitting everything down the middle. Equitable means fair, each side would get a fair share of assets. Here’s another example. When Doug and Sadie divorced, he claimed that some property was hers, and separate from the marriage. Five years ago, she received an inheritance from her great aunt, which she kept in a separate account. Sadie also had the beach cottage given to her and trusted by her father, these items would not be considered part of the marital estate.

At times, the situation can get quite tricky. For example, when Georgina and Ralph got married, Ralph had a Roth IRA and several $100,000 of contributions already in it. During the marriage, Georgina contributed several $1,000 to that IRA, transforming it into what’s known as a hybrid property. A qualified divorce lawyer can help you figure out exactly what belongs to whom and how it should be divided.

If you found this information helpful, please like and share this video. If you have any questions, call us at 805-420-7547 or visit us online at 805lawgroup.com. We offer free consultations at our law office or free online consultations throughout the state. You can also click the link below this video and download my book, “California Divorce, and Family Law – How to Protect Yourself, Your Children, and Your Money”.

How to Protect Yourself, Your Children, and Your Money

How To Protect Yourself, Your Children, And Your Money

How To Protect Yourself, Your Children, And Your Money

How To Protect Yourself, Your Children, And Your Money