California spouses may benefit from learning more about the laws governing property division in the state. Divorcing spouses should be aware that until a judge approves an agreement and provides a final order, all assets and debt will remain community property, regardless of any mutual agreements that have already been made. Spouses are advised to split property, assets and debts as fairly as possible.
Some spouses are advised to use debt to balance out against those receiving more of the property. For many, the focal point of property division is to reach shares that are relatively equal for all parties involved. In order to achieve a comprehensive and equal division of assets, spouses should identify and list everything the couple owns, including both community property and separate property. Divorcing and separating couples are typically required to complete such a list when submitting the Schedule of Assets and Debts form.