Kevin Qualls Family Law
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Property division during divorce in California

California divorce not only breaks hearts, but can stretch taunt purse strings too. Many financial aspects of a divorce, including property division, division of debts and assets must be carefully considered in a divorce. However, property division in a divorce is a most complicated issue with very high stakes for all involved. A divorcing spouse may need to consider hiring an attorney to take on the property division aspect of a divorce and come out with a reasonable split.

Before understanding this serious aspect of divorce, you need to understand what property will be considered for division. It could be a house, furniture, clothes and cars. It could also be more valuable assets, such as a bank account, pension plans, stocks, security deposits, patents or even life insurance. When granting a divorce, the court is expected to incorporate all previous decisions pertaining to property division into the final order. It might be the best interests of both spouses to come to an agreement about property division informally.

Nonetheless, any informal agreements regarding any divorce issue must ultimately be given the court's seal of approval. Any marital debt will also need to be divided, and the division included in the official divorce decree. A couple can advance divorce proceeding more quickly by agreeing to split any debts without the court's approval.

Of course, divorcing couples, who live in California, need to have a proper understanding of California property laws to finalize property division after divorce. In a community property state, like California, marriage makes two people a single legal community. This means that property acquired during marriage becomes community property, owned by both spouses. The earnings of both spouses during marriage are also considered community property as is the debt acquired during marriage.

Source: Courts.CA.gov, "Property and Debt in a Divorce or Legal Separation," accessed on Dec. 7, 2014

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