The Law Offices of Jasmine Davaloo
Division of Property
Almost all marriages require a division of assets and debts. California is a community property state. This means that all assets obtained and debts incurred during marriage are community property, with a few exceptions, and thus, are shared equally between spouses.
Property division can be one of the most complex aspects of terminating a marriage. What may appear as separate property of your spouse can in fact be community property, entitling you to half or at least some portion of it. Equally, what your spouse may contend is community property may in fact be your separate property, which you would not have to share with your spouse.
The method of computing the community property portions of assets, and thus your interest in them, can be different depending on the nature of the asset. It is important to have competent legal representation to accurately account for your rights and interests in assets. It is equally important to ensure you are not made liable for the other party’s separate debts. The Law Offices of Jasmine Davaloo can assist you in the division of your marital assets and debts.