As a family law firm, clients commonly ask, “Is everything split 50/50 in a divorce in California?” Understandably, this is a topic that can cause a lot of stress and added turmoil for families who are splitting. Our experienced divorce attorneys at the Edgar & Dow can provide the support, guidance, and legal knowledge you need to protect yourself, your assets, and the well-being of your children while divorcing in California.
California is a community property state, which means that marital assets and debts are generally divided 50/50 during a divorce. However, it can be difficult to decipher what community property is and what separate property is. The following blog will help you understand what community property means in the context of divorce and how assets and debts are divided in California.
In California, community property is considered to be all of the income and debt earned/incurred by either spouse during the marriage. This can include wages or salaries, real estate or personal property, cars and furniture, jewelry, boats, and even certain retirement benefits.
Separate property includes all property acquired before the marriage, as well as any gifts and/or inheritances that were received by one spouse during the marriage. Unlike marital property, separate property is not subject to division, so it stays with its respective spouse during the divorce.
Many common exceptions can alter the distribution of community property in California. Two of which are prenuptial and postnuptial agreements. Both are legally binding documents that can specify how assets and debts should be divided, provided they meet legal standards.
Another common exception is when separate and community assets are so intertwined that it is hard to tell the difference between them, otherwise known as the comingling of assets. This can be the case if a spouse uses premarital savings to invest in a family home that is purchased in both spouse’s names.
When you go through a California divorce, you and your spouse’s debt must also be divided. Similar to property division, the goal is to divide community debts, which are debts that accrued during the marriage, equally among the spouses, such as mortgages, credit card debts, or loans. However, this applies even if the debt was accrued by only one of the spouses. Debts accrued before marriage or after separation are almost always considered to be separate debts.
Another key component of the divorce settlement is alimony, which is sometimes referred to as spousal support. Courts in California consider a list of factors intended to serve as helpful guidelines when dealing with spousal support requests. These factors include the length of and standard of living during the marriage, custody, income, employment or employability, and financial needs.
The “10-year rule” in California greatly influences the length of spousal support. For marriages lasting less than ten years, the court will typically grant support for half the length of the marriage. On the contrary, if a marriage has lasted ten years or more, then support may be awarded for as long as necessary for the supported spouse to become self-supporting, as long as the paying spouse can afford it. This can last many years.
Child custody and support can also impact property division. When awarding custody, California courts consider the best interests of the child, which can directly influence the parties’ living arrangements and financial responsibilities. Child support is calculated based on the incomes of both parents, along with other factors. Because of this, the details of your child custody and child support arrangements play a huge part in financial discussions during your divorce.
A: In California, community property laws require an equal division of marital assets and debt. Each spouse is entitled to 50% of the property, assets, and debt acquired during the marriage. Certain exceptions like prenuptial agreements can complicate and impact this split. Premarital property, gifts, and inheritances are not subject to the 50/50 split. To better understand how community property laws may impact your situation, you should contact an attorney.
A: A wife is generally entitled to one-half of the community property, just as the husband is, which includes all property, debt, and assets either spouse has acquired during the course of the marriage. Premarital property, gifts, or inheritances that belonged to either spouse before the marriage are not considered community property. The premarital property of each spouse goes back to him or her, so a wife has no claim on her husband’s premarital property, and vice versa.
A: No, not all divorce splits in California come out at exactly 50/50. Although community property law in California aims for equality, unique factors like prenuptial agreements or separate property claims can affect how everything is ultimately split. The court system strives for fairness, so in cases where there are high-value assets or children, adjustments sometimes have to be made for an equitable split.
A: The “10-year rule” in California influences the length of spousal support. For marriages lasting less than ten years, the court will typically grant support for half the length of the marriage. On the contrary, if a marriage has lasted ten years or more, then support may be awarded for as long as necessary for the supported spouse to become self-supporting, as long as the paying spouse can afford it. This can last many years.
Understanding community property, spousal support, and child custody while navigating a divorce in California can be very tricky. Even though California law strives to split marital assets and debts right down the middle, there are many factors and exceptions because no two divorces are identical.
Whether you are going through a divorce or seeking legal advice in a prenuptial agreement, our experienced divorce attorneys can help you along the way. Understanding your legal rights and options is the first step toward setting yourself up for a favorable outcome. If you need assistance with your divorce or family law matter, please contact our legal team for a consultation today.
© Copyrights 2024 Edgar & Dow. All Rights Reserved. Disclaimer | Privacy Policy
Digital Marketing by