The Legal Process for the Division of Marital Property: Identification, Characterization, and Valuation
The division of property in a divorce case can be a very contentious issue—and for good reason. People feel pride and ownership in the things they have worked hard to attain over the course of a marriage. It’s only natural that most prefer to keep the assets they have earned, or at least take the time to decide how to divide them fairly.
However, it is important to recognize that California is a community property state, which means that all income earned, debt acquired, and assets purchased during the marriage are considered “community property” owned by the couple, not the individual. Because of this distinction, it is important for both spouses to understand the legal process of property division.