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Marital settlement agreements found online often mislead individuals regarding the proper listing of assets and debts. For example, one client's agreement stated that parties acknowledged ownership of their assets but did not specify them individually. This approach is problematic in California, where the law requires a detailed list of assets and debts to be included in the settlement agreement. Parties must name each asset and debt, including the last four digits of account numbers, particularly for 401(k)s and pensions. If these specifics are not addressed, the court may not approve the judgment. Overall, it's crucial to avoid generic templates and ensure compliance with California's legal requirements in settlement agreements.
