In a best-case California divorce scenario, both spouses remain honest about their assets and their liabilities. Such honesty means that each spouse receives a fair share of assets in the final property settlement. Unfortunately, divorce can bring out the worst behavior in people and honesty may fall by the wayside.
As you may know, California is one of several community property states. Under community property laws, courts presume that married couples jointly own the property they have accumulated while married. With this in mind, courts seek to divide assets as equally and as fairly as possible during the property division part of a divorce. Community property also means that courts divide the debts a couple accumulates in a similar manner.
If you are in the midst of a divorce, you know how complex property division can be. California is a community property state, which means the court presumes that both spouses jointly own all marital property. On paper, this sounds like a simple process, but that is not always the case.
Undoubtedly, the property division aspect of divorce is complicated. Since it is often an issue that brings out negative emotions like anger or a sense of betrayal, it is easy to make mistakes when property is at stake. Unfortunately, such mistakes can end up costing one spouse more than the other in the end.