When you are going through a divorce, the division of marital property in California can seem very complex. However, the term “complex property division” is more than just a description regarding the difficulty of asset division in divorce. It entails the division of high-value assets. These complex property division situations may include assets that are quite difficult to trace, value, and divide.
In most divorces, the couple is asked to value their assets and divide them equally, but when your assets are numerous, it may seem like an impossible task to trace funding, track expenditures and investments, correctly value each asset, and fairly divide them according to the law. In these situations, it is best to seek legal advice from an experienced divorce attorney before you begin the divorce process.
Assets Often Included in Complex Property Divisions in a California Divorce
Some high value assets that will likely be involved in complex property division include:
- Businesses and corporations
- Investment portfolios and unique investments
- Professional practices including medical and dental practices, law firms, accounting firms and veterinary clinics
- IRAs, 401(k)s and other types of retirement accounts and benefits
- Real estate property including primary and secondary residences, vacation properties, commercial and investment properties
- Stock options
- Other high-value assets including, stocks and bonds, collections/collectibles, automobiles, jewelry, and art
If you are going through divorce proceedings and any of these assets are involved, it is crucial that these assets are valued properly. Your experienced family law attorney will use a variety of resources and experts to help ensure the value of these items is calculated correctly and you get what is rightfully yours. Some of these resources may include:
- Real estate experts
- Forensic accountants
- Financial experts
- Tax specialists, and
- Valuation experts.
Your attorney will work with these experts to determine what assets will be deemed to be community or separate property, as well as the market value of real and personal property. Your attorney will also help these experts find hidden assets and determine where assets are stored and how they are being distributed.
Call the Experienced Family Law Attorneys at Wallin & Klarich Today
When your assets and properties go beyond a certain value, trying to divide these assets during a divorce may seem near impossible. If you are going through a divorce, you need to speak to an experienced family law attorney immediately to make sure you retain your valuable property. At Wallin & Klarich, we have been successfully representing clients in divorce cases for over 30 years. Our attorneys have the skill and experience necessary to help you obtain the best possible outcome in your case.
With offices located in Los Angeles, Sherman Oaks, Torrance, Orange County, San Diego, Riverside, San Bernardino, Ventura, West Covina and Victorville, there is an experienced Wallin & Klarich criminal defense attorney available to help you no matter where you live or work.
Call us today at (888) 749-7428 for a free phone consultation. We will get through this together.