Of all the aspects related to a divorce, there may be no area that is more contentious than property division. This can be especially true in highly contested high-asset proceedings. Be sure that you have the support of a skilled legal team with the experience and knowledge to identify and value the marital property and secure a fair division.
California is a community property state, which means that all marital property is expected to be divided between the spouses equally between the spouses. It is not required that each community asset to be divided equally, only that each spouse receive an equal share of the marital estate. The process involved with assembling and dividing the estate can be quite complex. Be sure that you have a qualified attorney representing you from the outset.
We are highly skilled in the resolution of such issues as separate property that was inherited or gifted, commingling, and uncovering hidden assets. We advise our clients on division strategies that provide the most benefit over the short and long term. We have handled marital estate involving a wide variety of assets, including:
- Real estate holdings
- Closely held businesses and business interests
- Retirement accounts
- Savings accounts
- Stock options and Restricted Stock Units (RSUs)
- Cars, household furnishings, artwork and other real property
- Intellectual Property
- Community debts
From our office in Glendale, we represent clients in Pasadena, San Gabriel Valley, Los Angeles and other communities in Southern California and the surrounding areas.
Skillful Representation in Southern California Business Valuation Cases
In divorces involving privately held businesses, it is likely that at least a portion of the business can be considered community property for the purposes of property division. Determining what portion of the business is eligible for division is dependent upon a number of factors, including when the business was established, whether only one spouse or both spouses have an ownership interest in the business, and the extent to which a non-owner spouse contributed to the success of the business, among others.
In many cases, however, the greater concern is determining an accurate value for the business at the time of the divorce. Doing so allows for a fair value to be assigned to the portion of the business that is eligible for division.
One aspect of business valuation that is frequently overlooked is goodwill. A business’s goodwill seeks to measure the value of its reputation or good standing in the community. In some cases, goodwill can translate into an actual monetary value beyond the value of its assets and intellectual property. When appropriate, we include an analysis of the company’s goodwill and work to determine if it should be included in the valuation for property division purposes.
At Simpson Law Group, we work closely with a team of forensic accountants, asset valuation specialists and other experts in an effort to obtain the best information available in the process of valuing the business.
If you are a business owner, we will help you explore your buyout options. If you are a non-owner spouse, we will work to ensure that you receive a fair share of the business according to the law. We invite you to schedule an initial consultation with an attorney by calling (818) 500-0511.