How do you prove an asset is separate property in a San Diego divorce? Generally speaking, any asset (or debt) acquired prior to the date of the marriage or after the date of separation is the separate property of the owner as long as marital funds, assets or labor weren’t commingled in some way during the course of the marriage. This can be a stressful and complicated process, but it is possible to prove an asset is separate property in a San Diego divorce.
The legal process is referred to as “tracing” when it comes to how and when the asset/debt was acquired as well as the source of the funds for the purchase (if applicable). A separate asset can be proven through direct tracing when the party can prove the source of the funds for the acquisition or show the movement of the acquisition capital from one separately held account to another. This often also applies to funds which are inherited and properly separated from and not commingled with community funds. If money was used from the separate account for the benefit of the community the expense may be entitled to reimbursement.
The second method used to prove an asset is separate property in a San Diego divorce is known as the family expense presumption. This method is often applied when some separate funds are commingled with community funds but at the time of the acquisition all genuinely community sourced funds were spent (exhausted) for community expenses.
The process of proving a separate asset claim is quite legally and financially complicated and usually requires extensive evidence and the testimony of expert witnesses. If you had substantial money or assets (such as business) prior to the marriage or inherited funds during the marriage and used any of these assets to support community interests the Certified Family Law Specialists at Burke & Domercq can help to protect your assets and prove an asset is separate property in a San Diego divorce.
Protect your own interests and contact us or call 760-389-3927 to schedule an appointment for a remote or socially distanced consultation with one of our experienced Certified Family Law Specialists.