Legal Question in Family Law in California

legal separation and investment

what is the legal implication regarding investment when couples are legally separeted? How does a couple that is legally separated protect their investments thereafter? What legal papers need to be filed if any to protect oneself against the debt of the other spouse when legally separated?


Asked on 4/09/09, 1:21 am

1 Answer from Attorneys

Colin Greene Russakow, Greene & Tan, LLP

Re: legal separation and investment

"legal separation" is a court determination extremely similiar to a divorce. Being "separated" is a term of art basically, you term yourself that, but it is not a legal separation until the court so determines. The California statute that provides that earnings and accumulations while "living separate and apart" are the "separate property" of that spouse leaves much room for debate. If you want the protect the investments you are making, you need to document the separation, which is obviously best done by a court filing, but which if you have not decided that reconciliation is out of the question, at least some writing between you and your spouse of the situation, that you consider yourselves separated. If either of those don't work for your personal situation, it will all get decided/settled in a court proceeding down the line or the issue will evaporate in your ongoing marriage.

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Answered on 4/09/09, 2:13 am


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