When it comes to asset division in divorce, a main consideration is whether you live in a community property state or an equitable division state. There are only 9 states that are community property, including CA.
The main difference between a community property state and an equitable division state is how they evaluate marital property divisions. Both generally keep separate property separate.
Community property states will seek a 50/50 division of marital property, whereas equitable division states may not seek a straight 50/50 split, but try to find a division that the court deems fair based on the specific circumstances of the couple such as each spouse’s financial contributions, non-financial contributions, future earning potential, and the length of the marriage. This leaves a lot of room for subjectivity.
Schedule your free Clarity Session
Only ten 30-minute sessions available each month, reach out today to get scheduled
In this session we will:
- Explore the various divorce options and understand which solution is right for you and why
- Review your main areas of financial concern and consider the best ways to address them
- Explore creative settlement ideas geared toward your values and goals for the future
- Get clear on the next steps to begin moving forward
- Connect you with the qualified resources that are best suited for your divorce process