The process of dividing property and protecting your assets during a divorce is stressful. You are already going through a major life-changing event, so trying to keep your personal assets in mind is just another stressor. You may feel like you don’t have enough time to worry about the specific items you desperately want to keep.
California is considered a community property state, which means that the courts generally divide property evenly. Any property you owned before the marriage or received personally as a gift is considered as separate property. However, there are steps that you can take to protect your important property amid a divorce. Make sure to keep these in mind in the event of a divorce.
1. Inventory Your Assets
A great way to manage your valuables and belongings is to create a spreadsheet or compiled list. These items can include any gifts given explicitly to you, not as a couple, as well as inherited items such as family heirlooms. After documenting the items, make sure to take photos, so you know each belonging in your inventory.
2. Prove Your Asset is Separate Property
Having a way to prove that your property is separate will help protect your assets during your divorce. One method of doing this is by asking family members for written documentation that they have given you specific items, such as furniture or jewelry—the more detailed the explanation of how the property is only yours, the better.
3. Negotiate Assets for What You Want
For any shared or community property, you will have to determine the separation of assets through discussions with your ex and the courts. Houses, boats, and cars cannot physically be split down the middle-- so some type of negotiation has to occur. When decisions are made about these assets, make sure that you acquire all official documentation and proof.
Folsom Divorce Attorneys
If you are planning to file for divorce and need help protecting your assets, contact Law Office of Tiffany L. Andrews, P.C. today at (916) 794-4576. We know that your property is essential to you and want to make sure you are happy with what you get.