In California, community property is generally divided equally between spouses in a divorce. California follows the principle of “community property,” which means that any property or assets acquired during the marriage are considered jointly owned by both spouses, regardless of who earned or purchased them. This includes income, real estate, retirement accounts, and other assets acquired during the marriage. However, property acquired before the marriage or by gift or inheritance is considered separate property and is not subject to division in a divorce. When dividing community property, the court aims for an equal distribution, although this does not always mean a 50/50 split if there are factors that warrant an unequal distribution, such as one spouse’s greater contribution to the acquisition of certain assets or the financial circumstances of each party.
In practice, dividing community property often involves determining the value of assets and liabilities, including real estate, bank accounts, and retirement funds. If the couple cannot agree on how to divide their property, the court will intervene and make a determination based on fairness and equity, considering factors such as the length of the marriage, the health and financial status of each spouse, and the needs of any children. Property division in California is complex, especially when it comes to valuing certain assets like businesses or retirement accounts. To ensure that property is divided properly, spouses may need to work with financial experts, appraisers, or attorneys to assess the value of their assets and develop a fair distribution plan.
