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Division of Assets

In California, the general rule is that all property acquired during marriage is considered community property. It is also the general rule that all debts acquired during marriage are marital debts. The presumption is that upon Dissolution of Marriage all community property and marital debts are divided equally. Although these concepts seem simple at first, the process of identifying what truly is community property and/or debt, and dividing it can be very difficult. Over the course of a marriage the characterization of assets can become mixed. Parties may have acquired community property with the use of one party’s separate assets. Identifying and valuing community property can be strongly contested.
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