California is a community property state, meaning any assets acquired during the marriage (such as property, investments, artwork, vehicles, and more) are considered to be owned equally by both spouses. Each spouse has an equal claim to all assets acquired since the start of the marriage under California law, with the exception of those specifically protected by a prenuptial or postnuptial agreement or trust.
Otherwise, assets that were acquired before marriage are considered separate under California law and are therefore not subject to division upon divorce. Inherited and gifted assets are also generally considered separate assets and may remain under sole ownership in the event of divorce.
That being said, there are certain ways to protect list of albania whatsapp phone numbers personal assets during the division of property, especially when you enlist the help of an attorney. For example, your contributions to commingled assets, such as real estate equity, can be detangled with the professional assistance of a lawyer. Payments may need to be traced back to separate assets in order to avoid claims of commingled marital property, which is subject to division in a contested divorce.
Challenges Unique to High Net-Worth Spouses
Many high asset divorce issues require specialized consultations in order to shield valuable assets from division under California family law. Challenges that a high net worth individual might face during a California divorce proceeding include: