California is a community property state, which means that all assets and debts acquired during the marriage are generally divided equally between the spouses in a divorce. This includes not only physical property but also bank accounts, retirement funds, stocks, and even debts. However, property acquired as a gift or inheritance is typically considered separate property and not subject to division. As these rules can become complex in practice, it’s advised to reach out to the knowledgeable team at Kendall Gkikas & Mitchell, LLP for professional assistance in navigating the intricacies of property division.
