As the dust of the arguments have settled, and you have decided to consult an attorney, one of the first questions that normally arises is who’s property is who’s and under what context will you be able to keep those hard acquired earnings you worked for during marriage. Well, the answer is simple, but not that welcoming to the newly divorced.
The fact is that during your marriage the earnings you make are part of community property. This means that anything you earned during the marriage will be part of the community, to be divided accordingly within the divorce proceedings.
Except as otherwise provided by statute, all property, real or personal, wherever situated, acquired by a married person during the marriage while domiciled in this state is community property.
California Family Code Section 760
Some exceptions to this rule are gifts, inheritance, and any proceeds or income earned from either gifts or inheritances.
When divorce occurs, the court will make decisions “in kind” as to the division of your community property. So what was earned during the marriage will be divided accordingly, including debts, liabilities, and assets.
Always consult an attorney when getting ready to dissolve your marriage. While contested court litigation need not always be the case, it is imperative to understand your rights as it relates to the equitable division of your liabilities and assets.