When you pursue a divorce, you and your spouse will be faced with a unique challenge: splitting up your assets, debts, and property that you acquired during your marriage. Though every situation is unique, some states try to make that distribution easier by implementing set rules that govern how distribution is handled by default. California is one of those states and the way your assets will be distributed typically follows the community property law. Here’s what your California divorce attorney wants you to know about how this type of distribution works.
California Is a 50/50 Community Property State
Under California state law, most property acquired during the marriage is distributed 50/50. This is done to reduce the risk of conflict during divorce and to ensure that each spouse receives a fair settlement. But that doesn’t mean all of your property will be subject to distribution if you file for divorce. The law only applies to community property.
What Is Community Property?
Community property is anything acquired during your marriage. The property you owned or had before you got married will be yours to keep and typically won’t factor into the divorce settlement. Here are a few examples of community property you’ll want to be aware of:
- Cars with both of your names on the tile
- Your home
- Joint bank accounts
- Joint investment accounts
- Joint loans and debts
This is far from an exhaustive list, but it should give you an idea of the types of property that could be subject to the 50/50 rule.
What Happens if You Disagree With The Division of Property
Though the 50/50 distribution rule is typically followed, couples may be able to negotiate alternative settlements that they consider more equitable. If you’re interested in pursuing a different type of settlement or want to explore your options in the hopes of working around the 50/50 rule, the best thing you can do is speak with an experienced California divorce attorney.
Every situation is unique, but your attorney will be better able to help you find the best course forward based on your circumstances.
You’ll Need to Be Willing to Negotiate
If the 50/50 distribution doesn’t seem fair to you and your spouse, you’ll need to commit to negotiating a different settlement. This can be difficult if you and your spouse aren’t on great terms. That’s why it’s essential to work with a divorce attorney from the very beginning. Your attorney can act as a sounding board and buffer between you and your spouse. They can represent your interests and help you come to an agreement with your spouse about who receives which pieces of property.
Schedule a Consultation Today
Though California is a community property state, you don’t have to settle for that 50/50 distribution of property. You and your spouse can come to a different agreement if you believe it suits your interests. Regardless of the method you choose, you’ll still want to work with a California divorce attorney to help you stay on track. Contact us today to schedule a free consultation.