What does community property mean, anyway?
In California, the general rule of thumb is that if property is acquired during marriage, it is community property. In addition, at the time of separation, all community property is generally split 50/50. Of course, there are many exceptions to these two basic tenets of the law. There are many questions you should ask yourself, such as where the property is located, when it was obtained, how the property was obtained, what and whose money was used to obtain it if it was purchased, who is in possession of the item, and more.
What about debt?
In California, debts incurred during marriage are generally split equally as well.
Where can I get more information?
We encourage you to contact us for a consultation, so that we can assist you in avoiding the pitfalls that are involved with property division. The California Court website has a wonderful primer on the topic that you may find useful to review before you meet with an attorney. Visit their website by clicking here.