Kevin Qualls Family Law
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Property division in a California divorce

Divorce brings in its wake not only emotional turbulence but financial woes as well. After all, family law in California requires that property be divided equally between divorcing couples. Also, couples may work out property division matters on their own, but until a judge signs off on this property division deal it will not be considered legally binding.

When it comes to property division matters, spouses need to agree that everything, including debt, be divided equally. This will ensure that each person receives an equal deal. Dividing property does not always mean a literal physical segregation.

For instance, if a couple has two bank accounts, it does not mean that both will need to divide what is there in one account exactly into half and then follow up with the other account in the same way. If both accounts have the same amount of money, then one spouse can take over one account and the other spouse can be the owner of another.

Debt can also be used to divide property related issues. One way of doing that is giving credit card related debt to a spouse who is getting the house, which has equity. In property division matters, what is important is net value. An easier way to go about property division is by making a list of every piece of property that a spouse owns. During property division, it is essential to make a list of items that are separate property and community property. Then you will assign a market value to each property.

Source: Courts.CA.gov, "Dividing Property and Debts in a Divorce," Accessed on Nov.20, 2014

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