Legal Question in Family Law in California
In an amicable divorce, is it okay to minimize paperwork by omitting certain assets (car) from the settlement agreement? The parties involved have already divided some community property in agreement and would like to keep it out of the settlement agreement. Is there any associated risk?
2 Answers from Attorneys
You can do it, but I think it is a bad idea in the long run. If you do not agree on division of an asset, or don't have distribution of the asset in the written settlement agreement, disputes can arise later as to who gets what or is responsible for the property.
You can certainly say all property in each possession....however you are putting yourself in a bad situation. The opposing party can later claim the asset was omitted and you breached your fiduciary duties. It is easier to simply list the assets now then to get into any unnecessary litigation in the future.
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