You and your spouse have decided to get a divorce, and you’re both aware of the community property laws of the state. The laws in California presume that you and your spouse will split your marital assets 50-50.
Of course, you and your spouse do have the option of coming up with your own property division settlement. You can create a settlement that is fair, not equal, if you are able to negotiate and decide on a settlement that you’re both happy with. This is often the route that couples go, since it gives them better control over their own situations and their futures.
If you do decide to go to court for a hearing and a judge makes the decision on your case, you should know that the likelihood is that you will be left with approximately 50% of your marital assets, and the assets you receive may not be exactly what you want.
How can you start dividing your assets?
If you want to start dividing your assets, one good way to do so is by creating a list of all your assets and debts. You and your spouse can then compare notes to see if there are any major differences in how you value your marital property or if you have disagreements about which assets are community or separate property.
After you each put together your list and look at your options, try to negotiate and work out a way to divide your property. If you continue to have issues with your spouse that makes it impossible to reach an agreement, you may want to speak with your attorney about your other options.