Distribution of Community Property

What is Community Property?

Community Property generally refers to assets and debts acquired during the marriage by either spouse, or both together. It's distinct from separate property owned by one spouse before marriage or through inheritance.

Examples of Community Property:

• Real estate (house, land)
• Vehicles (cars, boats)
• Investments (stocks, bonds)
• Retirement accounts
• Debts incurred during the marriage (credit cards, loans)

Challenges in Dividing Community Property:

• Commingling of Funds: When separate and marital funds are mixed, tracing separate property contributions can be complex.
• Business Ownership: Determining the value and ownership stake of a business owned by one or both spouses can be intricate.

Contact Us Today

Division of community property is required when you get divorced. You and your spouse can agree as to who gets what, but ultimately, a judge will approve it. That said, when there's a lot at stake, division of assets and debts can become contentious. Having someone who knows the law and has strong negotiating skills will help make the process go as smoothly as possible. Contact us today either online or at 702-214-7244 to schedule a Consultation.