Legal Question in Family Law in California
i live in california, i have been married for 8 yrs. what would happen in court if my wife divorced me, all the assets we have were purchased during our marriage, she has never worked during this time, all the assets, car,house, ect. are all in my name only, because the banks would not put her on them because of her past credit, these assets have no value above what is still owed on them,but the bills are in my name only as i have said. how would the courts handle it as community property, if there is no value and all the bills our in my name. mortgage is more then its worth, blue book is less then what is owed,ect. would i get to keep these items because they are in my name only.
1 Answer from Attorneys
If community debts exceed community assets, and you are willing to take on the debt, the courts are likely to give you most if not all the assets and the debts, and under the scenario you describe, award her somewhere around four years of alimony to get on her feet. The story would, of course, be different if you have any additional intangible assets, such as cash/deposit accounts, investments, retirement accounts, etc. on top of the physical assets you mention that are upside down.
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