No one wants to think that their marriage could be the one that someday fails. They hope that the love with their spouse will be the kind that lasts forever. Hopefully your marriage is the one that lasts and you and your spouse’s love will last through your old age, but if it doesn’t, have you safeguarded your assets and interests?
In the unfortunate event that your marriage ends in divorce, do you know how things would turn out for you in the division of marital assets? California exercises community property laws, meaning that in a divorce settlement, all property obtained during the marriage is divided in half between the spouses. Almost everything California spouses obtain during marriage is considered marital property: the home, vehicles, and non-tangible things such as retirement benefits and debt. California assets that existed prior to the marriage then usually remain with the respective spouse.
Although it may be unbearable to think about your marriage ending in divorce, there are things you can do to safeguard your property in case this does happen. Some people keep records proving which items they brought into the marriage, so that in a settlement they can prove that it is private property and therefore should be awarded to them. If you and your spouse use separate funds for some purchases, you could also keep a record of what you buy with your funds because this can also help prove it is your property and thus could be awarded to you in a divorce settlement.