In this episode of Divorce Not Murder, host Kristina Ivy and Idaho divorce attorney Robert J. Taylor discuss the complexities of separate and community property in divorce proceedings. The pair explores the importance of understanding these concepts, especially in the context of Idaho law, and the role of prenuptial and postnuptial agreements in protecting assets. The conversation emphasizes the need for clear financial boundaries and documentation to avoid disputes during divorce, as well as how these agreements can help maintain harmony in relationships.
Listen to the episode on Spotify.
What is considered separate property in Idaho?
Separate property is any property someone owned prior to the marriage or any gift or inheritance received during the marriage. It also includes property acquired with the proceeds of separate property.
What is considered community property in Idaho?
Community property is all property acquired by either party during the marriage. This includes income from one or both parties and any property acquired by either party during the marriage, regardless of how it is purchased or financed. One exception is real property. In Idaho, a married couple must purchase real property together as community property or the non-purchasing spouse will be required to sign a quitclaim deed conveying their community interest in the real property to their spouse at the time of the purchase.
How do you keep separate property separate during a marriage?
In Idaho, all property is presumed to be community property unless the person claiming the property can demonstrate to the court, through a process called tracing, that it is actually their separate property. A prenuptial agreement or a postnuptial agreement can help maintain this division, as well as keep the funds or property in a separate account and prevent them from being merged with any community property, known as comingling.
