Property division can be a big concern for divorcing couples which is why it is helpful for divorcing couples in California to understand California property division laws. California is a community property state which impacts the division of property and it is important for divorcing couples in California to understand what this means and what it means for them.
When property is divided during a divorce in California, marital property will be divided equally or as equally as possible. That is because according to California property division laws, marital property is shared on a 50-50 basis between the spouses. It may not always be practical to divide an asset in half so the family law court will work to ensure the overall division of property is as equal as possible.
Marital property is the category of property that is subject to the property division process. It includes income, earnings and debts of the couple acquired during the marriage. It is distinguished from separate property which is property that is not subject to the property division process during divorce in California. Separate property include property one of the spouses entered the marriage with or inheritances, gifts and personal injury awards. Certain property can be considered co-mingled so it is important to be familiar with that category of property as well.
The process of dividing property during a divorce in California does not have to be overwhelming if the divorcing spouses understand the categories of property, how they are divided and the family law legal resources available to help them. It can help guide them to a property settlement that both spouses can live with and that resolves their property-related concerns.