Marital Property Agreement

California is a community property state, which means that all assets that were acquired during the marriage are community property and split equally among the spouses (50/50). This property includes earnings, debt accrued throughout the marriage as well as items purchased with said earnings. Nonetheless, there are exceptions to this rule. For example, if one spouse incurs debt through student loans during the marriage, this is considered as ‘separately incurred debt.’ As such, this debt is taken with that spouse on divorce. To avoid disputes related to marital property, some couples choose to have a Marital Property Agreement drawn up before they get married.

Creating a Marital Property Agreement

Prior to the marriage, a couple may choose to enter into an agreement that outlines how, in the event of a divorce, the marital property should be divided. At The Law Office of Kevin C. Parris, we assist couples in creating Marital Property Agreements before they wed.

If you are considering marriage and would like to protect your property just in case things do not work out, contact Parris Law Group, APC today at 858-732-0095. We serve individuals who reside in and around University City, and San Diego County.