California is a community property state, meaning that all earnings and assets acquired during the marriage are community property, and each party is entitled to one-half. Likewise, both parties are equally responsible for all debt incurred during the marriage. All earnings, assets and debts incurred prior to the marriage or after the date of separation are the sole and separate asset or obligation of that particular party. Also, all assets that are inherited and received as gifts during marriage are separate property. It is the sole responsibility of the person to prove that that asset is separate property by providing documents and tracing the funds and assets through the marriage. The parties also may make agreements regarding their separate property. That is why it is always important to keep good records throughout the marriage.
If you have any questions, please contact the Law Office of Laurel Peniche Gartman at (714) 283-2811.
As a Certified Family Law Specialist, Laurel Peniche Gartman has been practicing Family Law for over 27 years in Orange County California.
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