California Divorce Mediation

A Marital Settlement Agreement contains a provision that awards each asset and debt to one party or the other. The community property laws in California presume that all assets and debts acquired during the marriage are equally owned. However, mediation allows the couples to get creative and decide themselves which party takes ownership of each specific asset and debt. Often times, the division is not equal. Also, the issue of separate property is addressed in the agreement. This can be assets or debts acquired before the marriage or after the date of separation. In either case, it is imperative to be thorough in characterizing and dividing all property in order to avoid future misunderstandings and potential litigation.