Flicker, Kerin, Kruger & Bissada, LLP
Menlo Park
650-289-1400
San Ramon
925-327-6200

Equitable or equal distribution? It's your preference

High-asset divorces are common, especially among older couples. As you grow in a marriage together, you collect assets. Some of those assets may become quite valuable over time, making it important for you to seek them out if you're going through a divorce.

Whether you have only two retirement accounts and a single home or you have multiple properties and income streams, it's important for you and your spouse to divide those assets in a fair manner. California's laws require community property to be divided equally unless you and your spouse agree on different terms.

Here's an example. If you own one home worth $1 million, a boat worth $25,000 and memberships valued at $5,000 yearly, the court would like to see that you're splitting $1.03 million between each other equally. However, the way you divide these assets doesn't have to be equal if you agree to different arrangements. For instance, if you agree to allow your spouse to keep the memberships that they use and the boat, you might be willing to take just your portion of the $1 million. It's not required, but it may be what is fair based on your history together.

In most cases, California's law for equal distribution makes it easy to know how much you'll end up with, but it doesn't necessarily dictate how to divide what you have. You have to decide if you want to sell the assets and split the proceeds or if you'll take certain assets over others in their current form. Your attorney can help you decide which is the right option for you.

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