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Worksheet for Determining Value and Division of Community Property

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"Community Property" is property owned in common by the husband and wife because they bought it while they were married. In California, each spouse owns one-half of this property (unless one of them got the property as a gift or inheritance).

Download Community Property Worksheet Opens new window

This worksheet is divided into two sections. The double black line down the center of the page separates:

  • the value of the community property information from
  • the division of community property information.

The information on the left side of the worksheet will help you determine whether you are eligible to use Summary Dissolution. The grand total value of your community property must be less than $38,000.

The information on the right side of the worksheet may be used to help you decide on a fair division of your property. It will help you prepare your Property Settlement Agreement.


Section A: Bank accounts, credit union accounts, retirement funds, cash value of insurance policies, etc.

  • Item: List savings accounts, checking accounts, life insurance policies, pension plans, etc. acquired during marriage. If you need more room to list all items, attach a separate sheet of paper.
  • Account No: List either partial or entire account numbers of any items listed.

    • NOTE: Once you file your forms, your divorce becomes a public record. This means anyone can view your documents if they go to the court file unit. Protect yourself. Do not list full account numbers, social security numbers, etc. List just enough information so it is clear to you and your spouse what accounts you mean.
       
  • Amount: List the cash value of each item listed.
  • SUBTOTAL A: Add the value of each item listed.

On the right side of the double line list how much of each community asset you will get and how much our spouse will get.

  • Wife Receives: Write the value of any items wife receives.
  • Husband Receives: Write the value of any items husband receives.


Section B: Items you own outright.

  • Item: List any furnishings, bonds, jewelry, pets, and any other properties acquired during marriage. If you need more room to list all items, you can attach a separate sheet of paper.
  • Fair Market Value: Write in this column the current dollar value of each item listed if it was to be sold today.
  • SUBTOTAL B: Add the value of each item listed.

On the right side of the double line list how much of each community asset you will get and how much our spouse will get.

  • Wife Receives: Write the value of any items wife receives.
  • Husband Receives: Write the value of any items husband receives


Section C: Items you are buying on credit

  • Item: List any stereo equipment, televisions, furniture, etc. purchased on credit during the marriage. If you need more room to list all items, you can attach a separate sheet of paper.
  • Fair Market Value: Write in this column the current dollar value of each item listed if it was to be sold today.
  • Minus Amount Owed: Write in this column how much your spouse and you owe for each item.
  • Net Fair Market Value: Write the value of each item after you subtract the amount owed from the fair market value. For example, if you and your spouse financed a stereo which is currently worth $300. but you still owe $200., the Net Fair Market Value is $100. (Fair Market Value minus the Amount Owed = Net Fair Market Value).
  • SUBTOTAL C: Add the Net Fair Market Value of each item listed.

On the right side of the double line write how much of each community asset you will get and how much our spouse will get.

  • Wife Receives: Add the value of all items wife receives and write in the total dollar value.
  • Husband Receives: Add the value of all items husband receives and write in the total dollar value.


Grand Total value of Community Property:

Add the total of sections A, B, and C. Insert the total number in this field
(A+B+C = Grand Total).

  • Wife Receives: Add the value of all items wife receives in sections A, B and C. Then write the total dollar value.
     
  • Husband Receives: Add the value of all items husband receives in sections A, B, and C. Then write the total dollar value.

If the Grand Total value of community property is more than $38,000 you cannot file for Summary Dissolution. You need to get a regular divorce.

However, if your community property is not more than $38,000, you need to complete the Worksheets for:

Determining the Value of Separate Property Opens new window and

Determining and Dividing Community Obligations
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