Myth: I earned the money while the other person didn’t work so isn’t everything we bought mine? Or: He earned all the money while I stayed home so everything we have is his, right?
Truth: The answer is no – a resounding no. Even if one spouse is the only one earning an income, that income is community income. So everything purchased during a marriage becomes community property. Even if one person does not work or makes substantially less than the other, anything purchased or acquired with community income is a community asset.
Even if you both have separate accounts, anything earned during the marriage is still considered community property.
The exception to this is if there was a prenuptial agreement signed prior to marriage. In this instance, that agreement would control whether property is characterized as separate or community.
Exercise Your Right to a Fair Division of Marital Property
Check out our free eBook, 9 Urban Myths about Divorce That Can Hurt You, for more divorce myths debunked.
Fair does not mean equal in property division. If you have your heart set on obtaining certain assets, let me help you during property division. Call 425-460-0550 or fill out our contact form to schedule a consultation.
