THIS IS A WORK IN PROGRESS AND SHOULD NOT BE RELIED UPON IN LIEU OF AN ATTORNEY. It is important to seek legal advice from a qualified attorney before making any decisions or taking any actions based on the information provided here. # 1. Real Property - **Examples**: [[Marital Residence|Primary/Marital residence]], vacation homes, investment properties, land or lots. - **Community Property Approach**: - If bought **during the marriage** (with marital funds), it’s considered **community property** and typically divided **50/50**. - If bought **before** the marriage or **after** separation (and kept separate), it is **separate property**. - If there’s **commingling** (e.g., using both separate and marital funds), a **tracing analysis** may be needed to determine which portion is community vs. separate. ## **2. Personal Property** - **Examples**: Furniture, appliances, electronics, jewelry, artwork, collectibles, clothing, and personal effects. - **Community Property Approach**: - Items **acquired during the marriage** are generally split **equally** (or by mutual agreement) unless a prenuptial/postnuptial agreement dictates otherwise. - Gifts and inheritances to **one spouse** are typically **separate property** as long as they were never commingled. ## **3. Bank Accounts and Cash Equivalents** - **Examples**: Checking and savings accounts, certificates of deposit, money market accounts. - **Community Property Approach**: - Funds **earned or accumulated during the marriage** belong to the community. - Funds that one spouse brought into the marriage or received as a gift/inheritance and **kept separate** remain **separate**. - **Commingled** accounts often require detailed analysis to determine what portion is separate vs. community. ## **4. Investment Accounts** - **Examples**: Stocks, bonds, mutual funds, ETFs, brokerage accounts, cryptocurrency holdings. - **Community Property Approach**: - Investments bought **with marital funds** during the marriage are considered **community property**. - Investments purchased **before** marriage or with **separate** assets, or received through inheritance/gift, generally remain **separate**—unless commingled. - Valuation dates and **accrued gains** during the marriage can be subject to division. ## **5. Retirement and Pension Plans** - **Examples**: 401(k) or 403(b) plans, IRAs, pensions, annuities, deferred compensation plans. - **Community Property Approach**: - The portion of retirement assets accrued **from the date of marriage to the date of separation** is considered **community property**, typically split **50/50**. - California often uses the **time rule** for pensions to determine the **marital portion**. - **Qualified Domestic Relations Orders (QDROs)** are often used to divide retirement accounts legally. ## **6. Life Insurance Policies** - **Examples**: Term life insurance (no cash value), whole or universal life insurance (with cash value). - **Community Property Approach**: - Policies **purchased with marital funds** or maintained with marital premiums are often partially or wholly community property. - **Cash value** in whole/universal life may be subject to **50/50** division. - Term policies, having **no cash value**, are typically handled by deciding who continues paying premiums and/or who retains the beneficiary designation. ## **7. Business Interests** - **Examples**: Sole proprietorships, partnerships, LLCs, shares in closely held corporations, professional practices. - **Community Property Approach**: - Business interests developed or expanded **during the marriage** are typically **community property**, to the extent they grew using marital resources/efforts. - Valuation is often complex, requiring **forensic accounting** to determine the **community’s share**. - If the business was started **before** marriage, only the **growth** attributable to the marital period may be split. ## **8. Vehicles** - **Examples**: Cars, trucks, motorcycles, boats, RVs, trailers, off-road vehicles. - **Community Property Approach**: - If purchased and paid for **during the marriage** with marital funds, the vehicle is **community property**. - Vehicles purchased **prior** to marriage or with **separate** funds remain separate. - If there’s an outstanding **loan**, the equity (or negative equity) is evaluated as part of the marital estate. ## **9. Debts and Liabilities** _(Not technically assets, but typically allocated in the same process.)_ - **Examples**: Mortgages, car loans, credit card debt, student loans. - **Community Property Approach**: - Debts incurred **during the marriage** are generally considered **community debts**, split **50/50** unless they are proven not to benefit the community. - Debts incurred **before** marriage or **after** separation are usually **separate** debts, belonging solely to the spouse who incurred them. ## **10. Intellectual Property** - **Examples**: Patents, copyrights, trademarks, royalties from books, music, inventions. - **Community Property Approach**: - Any **income or value** derived from intellectual property developed **during the marriage** could be considered community property. - If created or patented **before** marriage, but further developed with marital funds/effort, the **community** may have a partial interest. - Valuation of future royalties and rights often requires **specialized expertise**. ## **11. Memberships and Points** - **Examples**: Frequent flyer miles, credit card reward points, country club or gym memberships. - **Community Property Approach**: - Generally considered **community property** if accumulated **during the marriage** using marital funds or as a result of joint spending. - Division can be more informal, often by **negotiation** (e.g., transferring or splitting points). - Some programs have **restrictions** on transfer—check the specific membership rules. ## **12. Miscellaneous Assets** - **Examples**: Timeshares, stock options or restricted stock units (RSUs), collectibles (coins, stamps, etc.). - **Community Property Approach**: - If acquired or substantially paid for **during** marriage, typically **subject to equal division**. - **Stock options/RSUs** that vest **both during and after** the marriage may need to be **apportioned** based on what portion was earned during the marriage. - **Timeshares and collectibles** require market valuation to split fairly. --- ### **Key Points About California Community Property** - **General Rule**: Assets and debts acquired **during** marriage are presumed **community property**, divided **equally** (50/50). - **Separate Property**: Assets owned **before** marriage, inherited/gifted exclusively to one spouse, or acquired **after** separation (and not commingled). - **Commingling Complications**: If separate funds and community funds are mixed, tracing is required to figure out how much is separate vs. community. - **Prenuptial/Postnuptial Agreements**: Valid agreements can override default community property rules. - **Valuation Dates** and **Methods**: Especially relevant for complex assets (businesses, intellectual property, retirement funds).