Dealing with property division when you’re divorcing isn’t always easy. You may have a complex case, and with California’s community property laws, it could be hard to know how to divide your property equally.
There are some tips you can follow to start this process and to move forward. Here are some ideas for you and your spouse to consider.
How do you start dividing your marital assets?
You want to determine which of your assets are separate before you begin dividing your marital assets. Once you do that, you can list out all of your marital assets.
Compare your list of assets to the list that your spouse creates. They should, ideally, be identical. If they are not, you should discuss why certain items are missing and if there is confusion about which assets are subject to division.
After you work out which assets you would like to split, you should remember that California does require a 50-50 split. However, if you and your spouse decide on a different way to divide your assets, that can be acceptable as well. For example, if you have two residences, one that is worth $200,000 and another worth $250,000, you may each decide to keep one home and split all other property equally if you wish. It’s up to you to decide how you want to divide your property, but the law does provide for each of you to receive approximately 50% of the value of your marital assets.
Your attorney can help you negotiate if you’re finding it hard to work with your spouse on your property division agreement. You may want support if you cannot communicate well or if your negotiations have come to a standstill over a dispute.