The authorized dissolution of marriage in California necessitates a good and equitable distribution of property and money owed amassed through the marital interval. This course of entails figuring out, valuing, and allocating neighborhood property, which is outlined as property acquired by both partner from the date of marriage till the date of separation. Separate property, belonging solely to at least one partner (e.g., property owned earlier than the wedding, items, or inheritances obtained through the marriage), isn’t topic to this distribution.
Reaching an equitable final result in these issues is paramount, because it straight impacts the monetary safety and long-term well-being of each events post-divorce. Traditionally, California has adhered to a neighborhood property system, requiring an equal (50/50) division of neighborhood property. This method displays a societal recognition of marriage as an financial partnership the place each spouses contribute to the buildup of wealth, no matter direct monetary enter.
