You probably know that all assets you’ve gained during your marriage are considered shared in California. That means that you and your spouse will be expected to divide those assets 50-50 in divorce.
Dividing your assets equally is not always easy. You may disagree with the items that have been identified as marital property or separate property. You might want to negotiate a larger share of property because of the way your divorce is impacting you.
If you have real estate, stocks or other assets, your case could be complex, and it’s important that you have a good understanding of the law before dividing those assets. From tax liability to determining the value of your assets, there are many factors to consider before dividing your marital property.
What should you do if you don’t want to follow community property rules?
In some cases, you and your spouse may agree that community property rules aren’t fair. While California’s general rule is to divide your property 50-50, you and your spouse can agree to a different arrangement. If you’re interested in doing so, it may be a good idea to talk to your attorney about your options and what is or is not likely to be approved by a judge.
Complex property division cases can drag out a divorce, so if you have disputes or issues with your case, it’s a good idea to learn more about the law and to find someone to help you negotiate. Otherwise, you may end up litigating in family court, which is time-intensive and costly.