How is Property Divided in California?
Once the court identifies community & separate property, it will proceed with dividing all
marital property between spouses. In California, community property is divided equally among
spouses, but not identically. This means that while the division would be fair, it may not
be a 50/50 split. The court will consider the following factors when dividing community
property in California:
- Duration of Marriage: The courts may award a near-equal division of
property in long marriages. This is on the presumption that both spouses had ample time
to contribute towards the accumulation of assets. In shorter marriages, the division may
be unequal if one spouse makes financial contributions.
- Financial Situation of Each Spouse: If one spouse earns significantly
higher income than the other, the court may award them a greater share of the assets and
order them to provide spousal support to minimize disparity.
- Age & Health of Each Spouse: The health and age of each spouse may
also affect division, especially if one spouse is significantly older or in bad health.
- Contribution Made by Each Spouse During Marriage: The court will also
look beyond financial contributions during asset division, such as raising and caring
for the children, supporting the other spouse's career, and more.
- Debts: Not just assets, the court will also divide all debts acquired
during the marriage equally among the spouses. The exception here would be any debt
acquired by a spouse for personal reasons, which would solely be assigned to that party.
All shared debts will be divided equally.
Property division laws in California exist because both parties have the right to acquire
assets after divorce. Depending on the assets involved and the circumstances of the
marriage, the court will create a division plan that is fair to both spouses. To ensure your
financial interests are aptly represented, hire a Santa Ana divorce attorney who has
experience in complex assets division cases.
At Jos Family Law, we have high-asset divorce attorneys who can create a property division
plan that preserves your personal assets and helps you obtain your rightful share of assets.
What is Community Property in California?
California is one of the nine states with community property laws. In layman's words,
community property indicates that after marriage, the property, assets, and cash acquired
during the marriage are shared. So, if a divorce is filed and no agreement is reached, the
property is normally divided 50/50.
The first crucial step in creating a firm basis for your marital property resolution is
determining what sort of property you have. The parties are actually free to agree to all or
any ideas for dividing the assets, but there are a few laws and cases that provide guidance
on how to divide assets fairly.
It is quite beneficial if you address all financial matters with your spouse while you are
still on speaking terms. This applies to everything from bank accounts to loans, pensions,
retirements, and real estate. Explain to them why you desire this, whether casually or
openly.
Understanding this will inform your attorney of what needs to be safeguarded from being
wasted, destroyed, sold, or disposed of. Furthermore, having recently duplicated papers
helps to avoid any extra attorney expenses for both parties in demanding these records, a
process called discovery. When a request is submitted and answered, these costs are invoiced
to both parties.