Although California community property laws require courts to divide marital assets between both spouses 50/50, the parties can mutually agree to any other division they feel is fair and equitable. If the parties do not agree, then most likely the court will divide all community assets and debts down the middle between both parties. This includes bank accounts, retirement accounts, real estate, household goods and furniture and vehicles.
How will my marital assets and debts be divided?
About the Author: Sandy McCarthy
Sandra M. McCarthy, founder of A People’s Choice, has worked exclusively in the legal field since 1976. She served as the 2004-2005 President of CALDA (California Association of Legal Document Assistants). She obtained a Paralegal Certificate from the University of California, Santa Barbara. During her career in the legal field, she has worked as a freelance paralegal, law office manager and paralegal studies teacher, and has co-authored numerous legal publications and written hundreds of self-help legal articles. Sandy is dedicated to the expansion of affordable, low-cost, self-help document preparation.