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Many online marital settlement agreements can create misconceptions about asset and debt listing. For instance, a submitted example states that parties acknowledge their division of assets generally, but this approach is flawed in California. Simply claiming ownership of assets doesn't suffice; specific assets and debts must be listed by name, alongside at least the last four digits of account numbers. This is particularly critical for 401(k)s and pensions, as failing to address them explicitly in the settlement agreement may result in the judgment not being approved. Therefore, it's essential to accurately detail all assets and debts in any settlement agreement.
