Don’t community property settlement rules kick in based on valuation when the separation was established? So it’s all settled except the payout pretty much by then.
Also, IIRC, isn’t it the case that spouses are no longer obligated for each others’ debt with consent anyway now? (Used to be IIRC, debts were part of the common “property”).
While you’re still married , community property belongs to both people regardless of when the value might be set for a possible eventual settlement. Not all people with a legal separation end up getting divorced.
Spouses aren’t usually responsible for each other’s debts, but I did see references to “community debts”- and if the new car (house ,boat ,whatever ) I bought and titled in my name is community property, it would make sense that the loan I took out in my name alone to buy it is a community debt.
ETA Just found this http://www.nolo.com/legal-encyclopedia/debt-marriage-owe-spouse-debts-29572.html