Simplifying Complex Assets for Divorce Property Settlements
In today’s world, many people have often obtained significant assets before getting married. Over the course of a marriage, separate assets are often commingled (mixed), and sorting out the property’s original value or the future value of the investments becomes extremely complicated.
If you are considering filing for divorce in the San Francisco Bay Area and are concerned about the equitable distribution of your complex estate, turn to our team at Rodriguez Lagorio, LLP, for sound legal counsel. Get in touch to learn how we can assist you, or keep reading to discover more about the complexities involved in asset division.
Not Every Asset Can Be Converted to Cash for Simple Distribution
Although California is a community property state, laws regarding the valuation and classification of property are very complex. Community property laws require couples to split assets equally unless they agree otherwise.
The simplest assets to divide are liquid, like cash and bank accounts. These are easily split in half because they have a clearly defined value. However, other assets are harder to divide. For example, a home’s actual monetary value can be hard to determine without selling it. Furthermore, if it was purchased before you got married, it may be considered partially separate property and partly community property. Determining how its value should be divided takes care, attention to detail, and years of experience. Similarly complicated assets include:
- Business partnership shares
- Business and personal debt
- Foreign investment holdings
- Shareholdings of employee stock options
- Pension annuities, 401(k)s, and other qualified retirement accounts
- Commercial real estate investments
- Vacation property ownership, timeshare ownership
- Property and inheritance claims from previous marriages
- Assets placed in revocable and irrevocable trusts
But dividing property is just one aspect involved in properly dividing assets in California. Other potential issues related to property division include:
- Uncovering hidden assets
- Untangling commingled separate assets originally protected by a prenuptial agreement
- Identifying inherited money by one spouse during the marriage
- Valuing professional practice and small-business property
- Determining the future value of a professional license obtained during the marriage
These concerns must be resolved before you can trust that you are receiving a fair divorce settlement.
Consult With Experienced Asset Division Attorneys in Fremont, CA
At Rodriguez Lagorio, LLP, we are familiar with the complicated process of splitting community property. We can provide personalized support if you have concerns about complex assets and fair property division.
No family law lawyer can claim to be an expert in every detail of dividing complex property. We work with a network of qualified specialists in their fields of property valuation and finance to make sure your rights and financial interests are fully protected throughout your divorce.
If you are concerned about protecting your financial interests in your pending divorce, will you be able to trust your attorney? At Rodriguez Lagorio, LLP, our attorneys place a premium on building trust and confidence with every client. We can also assist you with exploring options through mediation. Call us at 925-963-2709 or send an email to schedule your meeting with our attorneys as soon as possible.