The court will, to the extent practicable, divide the "community property" equally. In rare and exceptional instances, the court may find compelling reasons to divide the property unequally. If it makes an unequal division, the court must support its decision with written reasons. Under some circumstances, the court may trace back to one party separate property invested in community property, or vice versa.

Yes, if the agreement is written and is approved by a court in the divorce proceeding. Provision must be made for child support if there are any children and for payment of existing debts.

A division of marital property will consider both tangible and intangible assets.

Tangible assets are physical assets such as your home, cars, boats, cash in banks, businesses, real estate investments, stocks, trusts, bonds, pensions, IRAs, and 401k's.

Intangible assets are non-physical such as intellectual property rights like copyrights, patents, trademarks, stock options, the goodwill of a business, etc.

Many times, people get married having considerable assets which they accumulated before the date of marriage. Generally, assets owned prior to marriage that have been kept "sole and separate" during the marriage, have a greater probability of being considered the sole property of the spouse that owned the property before the marriage. If those separate assets have appreciated during the course of the marriage, or community money has been used to maintain the asset (such as community money paying for the mortgage on investment properties,) those assets have a greater probability of containing some community property portion.