Matrimonial assets are financial assets that you and/or your spouse acquire during the course of your marriage. This differs to non-matrimonial assets, which are financial assets acquired either before or after your marriage. Matrimonial assets typically include things such as the family home, pensions and savings
Marital and non-marital assets
Marital, or community property, is defined as assets and debt newly acquired during the marriage, either jointly or by one party, other than by a gift or inheritance to one spouse.
Non marital, or separate property, are the assets and debts owned prior to the marriage that remain unchanged. They also can be inheritances during the marriage to one spouse, including gifts by one spouse to the other.
You also may have to worry about commingled property, which are the assets and debts that were nonmarital, but which were traded in to acquire new property, repaired or enhanced during the marriage with marital funds, or non marital debts paid with marital. For example, cars can sometimes find themselves in this category, due to their upkeep and need for payment.