California is a community property state, which means the assets and debts acquired by the parties during the marriage belong equally to both parties. In a divorce each party is entitled to receive an equal amount of the net assets of the parties.
Assets which a party had before marriage and assets received by a party during the marriage by gift or inheritance belongs to that person and is not divided with their spouse.
Complications of Dividing up Assets & Debt
Typical problems that arise in dividing assets are valuing assets, separating the community and separate component of assets, and deciding who is to keep which assets or pay which debts. I have extensive experience in the dividing of assets and debts in a divorce, including complex assets such as stock options, stock in closely held businesses, professional practices and other businesses.
