In community property states like California, all assets acquired during marriage belong equally to both spouses, including property and debt. Thus, when a couple in California files for divorce, all community property must be split evenly between the parties. In other states, such as New York, property acquired during marriage is distributed "equitably," or fairly. In community property states, it may be difficult for couples to decide how to divide property in half, such as a house. In other states, it can be a challenge to determine how to split assets fairly.
In one high-profile New York divorce, an estranged couple has been fighting for more than a year over an art collection worth several hundred million dollars. The wife contends that her husband took $200 million worth of artwork from their home in order to hide the assets, and she claims that he has hidden assets offshore.