Dividing Property During Divorce Continued
One gray area of division of marital property is businesses owned by one spouse prior to the marriage. These will remain separate property, but if both spouses worked at the business during the marriage and the business grew in that time, it might be partially considered community property.
Likewise, if separate property is mixed in with community property during the marriage there is a potential it will be considered as community property.
Keep in mind that the court will have the ultimate power to split community property between you and your spouse.
Common Myths and Misconceptions
Some common misconceptions about marital (community) and nonmarital (separate) property must be dispelled as you enter into the process of division of property.
The most common myths are listed below:
- Having a title to a property indicates “ownership” AND
- If a spouse purchases something with his or her earned income during a marriage, the property is separate.
These are both false assumptions. Holding a title to a property does not make it a separate property. If your spouse holds the title to a car (or vice versa), but the car was purchased with marital wages, it is community property. Your spouse cannot deny your rights to shared property simply because he or she holds the title.
An experienced divorce attorney can help you to understand the complexities of community and separate properties and the process of property division during a divorce. Involving a lawyer in the process is one of the best means to protect your assets and to ensure you come away from the divorce with a fair settlement.
It is important to speak with an attorney who specializes in family law
before making any hasty decisions. whocanisue.com can help you find an experienced divorce lawyer in your area. Complete our short questionnaire today!