Attorney Michael Young speaks about determining what is and isn't considered community property.
When the court comes to the point of dividing up the marital estate the first analysis that they must undertake is whether or not the property is community or separate property. The California legislature has mandated that all property accumulated during the time of the marriage is community property. The only property that is separate property is property that was received by way of gift or inheritance or property that was obtained by on party prior to the marriage. If the parties want to opt out of this community property system that has been enforced in California they can do so by way of prenuptial agreement; however, the prenuptial agreement has specific requirements and guidelines that must be followed so that it is upheld should dissolution occur. |