The basic division
Property acquired during the marriage is generally community property and is divided equally. Property owned before the marriage, or received during it by gift or inheritance, is generally separate property and is not divided.
Debts follow broadly similar principles, which surprises people more than the asset side does.
Where it gets complicated
Commingling. A separate-property account that received salary during the marriage. A house bought before the marriage but paid down with community earnings. A business started before and grown during. In each case both characters exist in one asset and have to be traced apart.
Tracing is a real analytical exercise, and it is the reason these matters cost what they do.
Retirement and deferred compensation
The portion of a pension or retirement account earned during the marriage is community property even though it is not yet payable. Dividing it usually requires a separate order directed to the plan, which is a distinct step people forget until it is late.
Date of separation is a substantive fact
It sets the line where community acquisition stops. It is not simply the day someone moved out, and where earnings or a business are involved it can be worth a great deal. Do not treat it as a formality.