How to divide assets in a divorce in California follows the community property framework — all marital property is divided equally unless the parties agree otherwise or specific exceptions apply.
What Gets Divided and What Doesn't
Community property divided in divorce includes: earnings during the marriage, real estate purchased during the marriage, retirement accounts accrued during the marriage, bank accounts, vehicles, and business interests. Separate property — not divided — includes property owned before the marriage, inheritances, and gifts received during the marriage. Debts follow the same rules: marital debts are community debts subject to equal division.
How to Divide Assets in a Divorce — The Process
How to divide assets in a divorce in California: (1) Both spouses complete mandatory financial disclosures — the FL-150 Income and Expense Declaration and FL-142 Schedule of Assets and Debts. (2) The spouses negotiate a division through attorneys, mediation, or direct agreement. (3) If agreement is reached, the terms are memorialized in a Marital Settlement Agreement (MSA). (4) If no agreement, the court decides at trial. (5) The MSA or judgment is submitted to the court for approval and incorporation into the final dissolution judgment. Furubotten Law, APC handles asset division throughout Orange County and Riverside County. Call (714) 795-3862 for a complimentary case evaluation.