The year of 2017 has ushered in a new administration into the United States government. That alone will bring some need to transition and adjust to big change. But on a more personal level for married couples in California and throughout the country, many are also dealing with the significant life change of divorce.
No matter what your income level may be, you likely care a great deal about how your assets - as well as your debts - will be divided when it comes time to dissolve your marriage. This is understandable. After all, no one wants to see a divorce settlement that does not provide a fair split of community property and debts.
For many couples going through divorce, one of the first priorities is determining who gets what in terms of marital property. California is a community property state, meaning each spouse is entitled to half of jointly owned property and assets. Although it sounds straightforward, property division hardly ever comes down to a "50-50" split of marital assets.
Every couple goes through an adjustment phase when they merge their lives. However, there are things that you can do to set some rules and protect your individual assets, which can be crucial if a marriage ends whether by divorce or death.