Division of Marital Property, Disputes
Each party is entitled to all of their own separate property, and 1/2 of the community property. Thus, key to this area is understanding what is community property, and what is separate property.
[box]This area will involve three steps:
- First: identifying all of the assets and debts. The issues that arise on this topic are hidden or undisclosed assets or debts.
- Second: determining if the asset/debt is either community, or separate property, or a mixture. If it is a mixture, then determining what percentage is community and what percentage is separate can be difficult. There are many specialized rules for this area.
- Third: determining the value of the asset or debt[/box]
If you don’t have much property, this may not be much of an issue. On the other end of the spectrum is where there is a business that was started or increased during marriage, and/or houses that were owned prior to marriage but paid for during marriage; and/or stock options; and/or where inheritance money during marriage was used to acquire things, and other issues.