What is division of marital property?

Division of marital property is a legal term in California, referring to the process of deciding who gets what in a divorce. At the time of divorce, California law requires that all property, including money, be split up in an equitable manner between the two spouses. This means that the division must be fair, although it does not necessarily mean that the division must be equal. The court will consider a variety of factors when deciding on how to divide marital property. These factors include the duration of the marriage, the health and age of both parties, the income and assets of each spouse prior to the marriage, any debts and liabilities, and any tax implications of the division. The court may also consider the standard of living from during the marriage and the contributions each spouse made to acquiring marital property. Property division is a critical part of the divorce process, as any division of assets must be approved by the court, and must be based on the facts of the case. The division of property is often a contentious issue between spouses, and each spouse should consider consulting with a lawyer to ensure that their rights are represented.

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What is division of marital property?

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