LAW OFFICES OF MARIA E. CRABTREE
  • Home
  • Attorneys
    • Maria E. Crabtree, CFLS--Managing Attorney
    • L. Michelle Lopez-O'Bara, Esq.--Senior Associate Attorney
    • Gorsha Sur, Esq.--Associate Attorney
  • Support Staff
  • Mediation
  • Contact Us
  • Resources
  • Blog
  • Español

The Basics of California Community Property: What Marriage Means for Your Finances

1/4/2018

2 Comments

 
While lawyers often get bogged down in the details of family law, it is easy to forget that the concept of community property is foreign to many people. A lot of people see a marriage as a symbol of their love and commitment that might come with a few tax benefits, but in reality, it is a much bigger financial commitment than many people are aware of.

When you get married in California, you have created a "community" and both members of the community own everything equally. All property received by members of that community belong to the community and all debts incurred by members of that community are owed by the community. The only things that stay separate are 1) what you had before you joined the "community", 2) what you receive after you leave the "community", and 3) what you receive as a gift, inheritance, or bequest.

So, while you might think that because you have operated separate bank accounts and separated your billing, it doesn't matter when you get divorced. Every asset and debt incurred by the community is equally yours and equally theirs, unless you have a valid prenuptial or postnuptial agreement saying otherwise.

Thus, when you get married in California, don't take the financial aspect of the marriage lightly. Get your ducks in a row and educate yourself about what is in store for you, so that you can enter your marriage in a positive, informed mindset. Maybe even consider getting a prenup to better delineate whose property belongs to who.   
2 Comments
https://shareit.onl/ link
4/14/2022 12:07:09 am

ks for sharing the article, and more importantly, your personal ex sdcperience mindfully using our emotions as data about our inner state and kndzcowing when it’s better to de-escalate by taking a time out are great tools. Appreciate you reading and sharing your story since I can certainly relate and I think others can to

Reply
mxplayer link
4/14/2022 12:35:05 am

ng the article, and more importantly, your personal ex sdcperience mindfully using our emotions as data about our inner state and kndzcowing when it’s better to de-escalate by taking a time out are great tools. Appreciate you reading and sharing your story since I can certainly relate and I think others can to

Reply



Leave a Reply.

    Authors

    Maria E. Crabtree, CFLS
    Rebecca L. Lovell, Esq.
    Kelley F. Stieler, Esq.
    ​Alistair Shaw, Esq.

    Categories

    All
    Child Custody/Visitation
    Child Support
    Divorce
    Paternity
    Property
    The Electronic Age

    Archives

    April 2020
    July 2018
    June 2018
    May 2018
    April 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    May 2017
    December 2015
    June 2013
    April 2013
    March 2013
    February 2013
    August 2012

    RSS Feed



    Disclaimers:  This web site and blog is designed for general information only. Information posted on this site and blog does not constitute legal advice. By accessing this site and blog, you do not form an attorney-client relationship with Maria E. Crabtree.  Family law is a state-specific practice, and Maria E. Crabtree only represents clients whose cases are within California's jurisdiction.

Powered by Create your own unique website with customizable templates.
  • Home
  • Attorneys
    • Maria E. Crabtree, CFLS--Managing Attorney
    • L. Michelle Lopez-O'Bara, Esq.--Senior Associate Attorney
    • Gorsha Sur, Esq.--Associate Attorney
  • Support Staff
  • Mediation
  • Contact Us
  • Resources
  • Blog
  • Español