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Recently, our Los Angeles family law attorneys discussed what divorcing couples need to know about California’s community property laws. The law assumes that property acquired during the marriage is community property unless proven otherwise and requires that the spouses divide it equally during a divorce. This presumption can be contested by providing clear documentation or evidence that an asset is separate property. The same is true for debts.
Under California’s community property laws, both spouses are equally responsible for debts, regardless of who incurred them, as long as they were accumulated during the marriage. However, there are a few nuances to this rule.
When is Debt Considered Separate Property During a California Divorce?
Debts incurred before the marriage or after the date of separation are typically considered separate and are the responsibility of the spouse who incurred them. This includes student loans or personal credit cards opened before the marriage.
If a debt is tied to a spouse’s separate property—perhaps a mortgage on a house owned before the marriage—that debt may be considered separate and assigned to the spouse who owns the property. (Debts incurred for the household’s benefit, such as a mortgage or car loan, will likely be divided equally between both spouses, regardless of who signed for the loan or used the credit.)
In some cases, the court may divide debts unequally based on the circumstances, such as if one spouse acted irresponsibly or incurred debts for their benefit through gambling or extravagant personal spending.
Our skilled California family law attorney can play a crucial role in ensuring that all assets and debts are appropriately divided during a divorce by thoroughly analyzing the financial details of the marriage. We help identify and differentiate between community and separate property, ensuring that all marital assets and debts are accurately accounted for.
Additionally, we can assist in gathering the necessary documentation to prove the classification of assets and debts, negotiate fair settlements, and advocate for our client in court if disputes arise. By leveraging our experience in California’s community property laws, we help protect our client’s financial interests and ensure a just division of assets and liabilities.
Contact Our Family Law Attorney in Los Angeles Today
Call (310) 746-5857 today or contact us online to connect with the Land Legal Group’s team of adept family law attorneys in Los Angeles and learn how our decades of combined experience can help secure your future.
