Username
Password  Login
No account yet? Register

You are here: Library >> Financial / Property >> Community Property >> Property Acquired After A Separation

Property Acquired After A Separation

Dealing With Property Distribution During A Separation

Property distribution is one of the most complicated aspects of a divorce , requiring the court to distinguish between marital or "community" property and property that is "separate" or held by one party only.

Articles about 'Community Property'
Debts: Husbands and Wives: Your Debt Related Responsibilities As A Spouse
Does Community Property Mean "50/50"?: The Basic Rules for Dividing Community Property
What is Marital and Non-Marital Property?: Understanding the Financial Aspects of Marriage and Divorce
FAQ: Can Separate Property Become Community Property?: Frequently Asked Questions About Property Division
nima test: nima test
The Basics of Property Distribution: What Happens to Your Stuff When You Divorce?
Divorce Glossary: Understanding Legal Terminology Related to Divorce
Dividing Retirement Funds: What Happens to IRAs, 401(k) Plans and Pensions in a Divorce?

When parties legally separate , they are in effect establishing themselves as "living separate and apart". Many states will address property distribution in a legal separation agreement that can then be converted into a divorce decree at a later time.

In these instances, most states agree that any property acquired after a legal separation but before the divorce would still be considered separate, however there are some exceptions to this rule.

If the parties are not legally separate for example, meaning that no official document has been filed with the court, then property acquired after the separation could be claimed as community property during the divorce proceedings.

Likewise, if the parties are not living "separate and apart", it would be difficult to claim an item as separate when it was technically acquired while the parties were still together. The final determination would of course, be up to the court.

Also, some states do not provide for a "legal separation" in court, so it would be up to the parties to document their separation. Depending upon the laws of your state , this may or may not protect property acquired after the separation.

The way that the property was acquired is another consideration to this particular issue. If for example, income or earnings were paid from a retirement account that would be classified as community property, then the income is also considered community property, even though it was earned after the separation. Similarly, if an item is acquired by converting clearly established separate property, then the new property would remain separate, regardless of when it was acquired.

Remember, each state deals with property distribution differently so you should study the laws of your state to learn more about distinguishing separate property from marital assets.


  Tags : community property, separate property, divorce, legal separation
You Might Also Be Interested In:
What is Marital and Non-Marital Property? : Understanding the Financial Aspects of Marriage and Divorce from >> Financial / Property >> Community Property
Does Community Property Mean "50/50"? : The Basic Rules for Dividing Community Property from >> Financial / Property >> Community Property
FAQ: Can Separate Property Become Community Property? : Frequently Asked Questions About Property Division from >> Financial / Property >> Community Property
Debts: Husbands and Wives : Your Debt Related Responsibilities As A Spouse from >> Financial / Property >> Community Property
Uniform Premarital Agreement Act : How To Make Sure Your Prenup Is Legal from >> Prenuptial Agreement
10 Reasons You Might Want A Prenuptial Agreement : How To Make Sure You're Protected In A Divorce from >> Prenuptial Agreement
Criteria For Valid Prenups : How to Make Sure Yours Will Hold Up in Court from >> Prenuptial Agreement
Choose :