When couples get a divorce in a community property state such as California, all assets acquired during the length of the marriage (but prior to separation) must be equally divided. Separate property, which includes any asset acquired before the marriage, is not included under community property. California courts define this dividing process as “equitable distribution”, to ensure that both spouses get their fair share when it comes to splitting up personal property, real estate property, bank accounts, retirement accounts, pension plans, family businesses, and insurance policies.