California has long been known as a state where marital property is divided evenly, not equitably. While the majority of states in the U.S. use equitable division, California's laws require that two people who have been married divide all marital property down the middle.
Those going through a divorce should take steps to protect their credit. After all, you will be dependent on a single income after the split.
Dividing your property isn't always going to be easy, especially if you've been married for many years. In California, you'll be bound by community property laws if you go to court to divide your property unless you have a pre- or post-nuptial agreement in place that dictates how you'll divide your property.
Dividing your property during a divorce isn't always easy. Though the state requires a 50% split, you may have agreed to a different arrangement with a prenuptial or post-nuptial agreement. Even if you didn't, it's not always simple to divide assets evenly.
During a divorce, you and your spouse may not be able to decide on how to divide your property. While the fact is that California expects you to divide the value of your assets by 50%, the actual division of your property can be complex. You might hope to keep certain assets that your spouse wants to sell, or you may have assets that you don't want to allow your spouse to have that you both want.
One of the hardest things for some couples to do is to separate their assets during their divorce. In California, property is split 50-50 thanks to community property laws. However, you or your spouse may not agree with this division of property.
California is a community property state, but that doesn't mean that couples have to abide by a 50-50 split if they don't want to when they divorce. California's courts normally accept any reasonable or fair property division agreement that you and your spouse agree to. However, if you can't agree, you will need to go to court and have the Superior Court do so for you.
You have a great collection of artworks that you've been putting together for many years. Now, you're divorcing, and your spouse suddenly wants some of that collection, too.
When you are going through a divorce and have bank accounts, you will need to divide your marital funds. Whether or not your bank account is separate or marital property depends on a few factors that you'll have to consider.
California is known as a "community property" state. That means that property and other assets (including income) acquired by spouses -- separately or together -- during the marriage are considered to belong to both of them.