Division of Property and Debts

Under California law, property and debts acquired during a marriage or registered domestic partnership, are generally considered community property to be divided equally between the parties.  There are exceptions for property acquired by way of gift or inheritance by one party and for property acquired with the proceeds of the sale of property that a party owned prior to the marriage or registered domestic partnership.  In some cases, the characterization of an asset or debt as community or separate property is not simple because of the manner in which the property was acquired or used or the title to the property.  Issues frequently arise with respect to assets such as a family residence, business, retirement benefits, stock options, stock grants as well as literary and artistic works.  At Marx & Duffy we have experience dealing with all of these issues and can assist our clients to understand the issues involved and to achieve the best possible result.