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high asset divorce Archives

Tips for dividing real estate in a California divorce

Let's say that you and your spouse have decided to divorce. One of the significant steps that you will have to take is dividing your property between the two of you. This process can be simple or complex, depending on each individual case. But there is one type of property that can raise complications much more frequently than other assets: Real estate.

Property rights in a community property state

California is a community property state. As such, all community assets and all community debts are divided equally. California is also referred to as a no-fault state. This means that all that is required to get a divorce is a declaration that irreconcilable differences have arisen which have led to the irremediable breakdown of the marriage. Who did what to cause the breakdown has nothing to do with how the property is divided.

Consider the prenup, and double check your provisions

There was a time in society when the prenuptial agreement was seen as a terrible and deceitful contract that few couples should ever even give a second thought. However, as the years have passed and people have begun to fully consider the ramifications not just of a prenuptial agreement, but of marriage and divorce in general, the prenuptial agreement has gained a lot of mainstream support. Couples now take these contracts seriously and realize the tremendous benefits that they offer.

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