California is a community property state, meaning that any property or obligation (e.g. loans, credit cards) acquired during the marriage is presumed to be owned by both spouses equally, regardless of who actually bought it or whose name is on the paperwork. Should a couple divorce, the value of marital assets and debts are split 50/50 between them unless they negotiate a different arrangement or a prenuptial or postnuptial agreement states that certain assets remain separate in the event that the marriage ends.
Assets that are NOT typically subject to distribution include those acquired by each spouse before the marriage as well as gifts and inheritances received by one party during the relationship.
In California, divorcing couples may decide on their own how they want to distribute their marital property and obligations. If they are unable to agree on how to divide everything, then the court will make the final decision according to community property laws.