California’s Community Property Law in Divorce Mediation
Divorce is a notoriously arduous process for many reasons, one of the most commonly cited being property division. Unfortunately, California is one of the few states that upholds a community property statute, one that many people find to be too rigid and imbalanced when it comes to determining a fair distribution of marital property in a divorce. However, while the community property law of California may seem overbearing at first, it is actually more flexible than many people realize, and many California divorce agreements do not end with a completely equal division of marital assets and debts.
If you plan to end your marriage in California soon, it is essential to understand the state’s community property law and how it is likely to come into play in your divorce. This law essentially states that all assets and debts acquired during a marriage are the equal property of both spouses. However, the actual legal process of property division in California requires a close examination of various aspects of each asset and every debt involved in a divorce.