Division of Assets in Divorce

California is a community property state which, in short, means that assets attained during the marriage, except in very clearly defined circumstances, are considered community property in which each spouse has an undivided one-half interest.  Often, however, the division of property is not as simple as dividing everything in half.  Great care needs to be given to characterizing and valuing your assets properly to ensure that each party is awarded his or her fair share of the marital estate.