How Much Is Your Community Property Worth?
When divorcing couples divide the community property, they don't take turns choosing specific items for each to keep until the marital estate is distributed between them. Even in situations where there is little community property besides the household goods, there will usually be assets that need to be valued and divided one way or another, often by one spouse's commitment to buy out the other's interest. These assets include real estate, retirement accounts or business interests.
Accurate Valuation of Assets and Liabilities in California Divorce
The value of a particular asset subject to division can have a significant effect on your overall property settlement. At the office of Hugh O. Allen, Attorney at Law, we help clients develop an accurate understanding of the overall value of the community property and the most important assets that compose it. We first develop a sound estimate of the values and go to work on the characterization issues that might keep certain assets off the table for distribution. Contact us in Rancho Cordova for advice about the asset valuation issues that are likely to come up in your divorce.
Once we know what's in and out of the marital community, we work with experts as necessary to develop precise valuations of the community property. We use this information to prepare, negotiate and litigate as necessary settlement proposals that protect our client's interest in an even share of a properly calculated marital community.
Keep in mind that the key values to consider involve the divorcing couple's equity, not gross values. If you owe $860,000 on a $780,000 homestead, you don't need to worry about dividing the market value of your house. The question instead will be how to apportion the $80,000 liability on the mortgage. In some situations, it makes sense to file for bankruptcy before divorce just to clear the marital community of dischargeable debts.
Call 866-720-3666 for an Experienced Lawyer's Advice About Valuation Issues
For additional information about determining the overall worth of your marital assets and liabilities, contact a Sacramento divorce property valuation attorney at the office of Hugh O. Allen, Attorney at Law.
This does not constitute a guarantee, warranty, or a prediction regarding the outcome of your legal matter.
