- Estate Planning
In community property states all assets and debts acquired throughout the marriage are divided equally in a divorce. If you had assets before you were married, they will be viewed as “separate property” if, in fact, that property was kept separate from the “community property”. The same holds true for separate investments, and property that you exclusively inherited.
If you know you will be going through a divorce, it is crucial that you put together the pertinent information about your property and your income. You can then share this information with your divorce attorney so he can help protect your assets. A qualified divorce lawyer will be able to advise you about the division of property laws in California, and determine how best to manage your specific situation.
Steps You Can Take
You will need help from an attorney to protect your part of the assets that may be considered community property.
Some ways to go about doing this are:
Put together all records: bank accounts, investments, pensions, valuable property, vehicles, and homes. Describe in writing any other assets. This information is important in your divorce proceedings. If your spouse has removed items from the home, make a list of the missing items.
Put all jewelry, deeds, and expensive items in a safe deposit box.
You may want to revoke any powers of attorney given to your spouse regarding your personal assets or legal matters.
Speak with your Rancho Bernardo attorney about closing joint bank accounts.
Speak with your attorney about filing a restraining order to prevent your spouse from seizing marital assets.
In a community property state, it may be wise to think about a prenuptial agreement when you marry (or remarry) to minimize the upset and hostility that may occur over assets in the event of a divorce.
Contact the office of Gordon G. Meyer, a Certified Family Law Specialist, who has 43 years of experience in Family Law and Child Custody cases. Call 619-855-4070 for an appointment today.
Serving the communities of Poway, Rancho Penasquitos, Rancho Bernardo, 4S Ranch, Escondido and North San Diego county.