| DIVORCE FAQ #9
9. How will our property be divided?
California law recognizes that both spouses make valuable contributions to a marriage. Most property
will be labeled either community property or separate property.
includes credit card bills, even if the card is in your name only. Student loans are an exception
and are considered separate property debts.
Community property possessions and debts are divided equally unless you and your spouse
agree to an unequal division-or unless there are more debts than assets. Keep in mind that if
your spouse agrees to pay a community debt and fails to do so (or files for bankruptcy and
discharges the debt), you may have to pay the creditor.
Division of possessions and debts can be complicated. You should seek legal advice before
entering into any such agreement. And if you have already signed away your rights to certain
property, consult an attorney to find out if you are bound by the agreement. Finally, if you and
your spouse cannot agree on the division of your debts and possessions, a judge will make the
decision for you. He or she may not split everything in half; instead, the judge might give each
of you items of equal value. For example, if your spouse gets the furniture and appliances, you
might get the family car.
and separate property, and your income and expenses, which is attached to documents called
the preliminary and final declarations of disclosure (see #6). Determining the character of
property can be complicated and mistakes can be costly. Obtain legal advice to make sure that
your property is correctly listed as community or separate.
Contact a Divorce Attorney LA at Law Offices of Warren R. Shiell today!
Please call to make an appointment at 310.247.9913.
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