California is a community property state. The California Family Code has a rebuttable presumption that property acquired during marriage is community property in which each spouse has a 50% ownership interest. However, this does not mean that all property in existence at the time of divorce will be divided “50/50” between the parties.
The division of property contains many complexities pertaining to the logistics of dividing assets and debts, valuation of assets, partition, etc. Furthermore, California law allows for numerous claims that can affect the division of property, including reimbursement claims, credits, and other remedies for breach(es) of fiduciary duty and/or misappropriation of assets.
The Law Offices of Matthew Smurda will represent its clients in connection with any and all issues affecting the division of property in any dissolution of marriage case.