CA is a community property state, meaning that all property that has been acquired during the marriage is community property, with the exception of property acquired through a gift or inheritance. Property includes personal property, cars, real estate, shared savings and checking accounts, stocks, bonds, shares or interest in a business, and insurance policies. You might think property is something with value, but in fact even things that you might think have "no value" can be classified as property. For example: debt (loans, credit cards) goodwill, business name, professional degree or license, trade mark, copyright etc. Even if one spouse has earned all the money or a greater portion of the money to acquire the property, all the property is considered community property. In community property jurisdictions, spouses equally own all community property (fifty percent owned by the husband and fifty percent owned by the wife), and it is then divided equitably between the spouses.
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