If you are getting a divorce or legal separation, it is necessary for you to learn about how California’s divorce laws handle property and debt division. Being educated from the onset of your case will help you understand what will be involved in your divorce and what you can expect to happen.
The courts will typically accept any fair and reasonable property and debt division arrangement that the parties agree to; however, if the parties are unable to reach an agreement, a judge will step in and divide the community assets equally.
Retirement accounts, pension accounts, deferred compensation benefits are all assets that are subject to community property laws. In divorce, debts are treated the same as other property and generally are divided equally between spouses.