Los Angeles Lawyer Advising on Valuation of Assets in Divorce
Serving Los Angeles & Orange County areas, including Huntington Beach ▪ Cerritos
To discuss asset valuation and division in a California divorce, contact the Advocacy Law Center, APC in Lakewood. Advice from an experienced lawyer will help ensure that your rights are protected and that no loopholes are left unaccounted for as you prepare for marital dissolution after a short-term or long-term marriage.
An essential phase of divorce procedures, especially in high-end divorces, is the valuation and division of assets which may include any of the following:
- Businesses
- Retirement accounts
- Stocks and bonds
- Profit sharing
- IRAs
- Deferred compensation
- Accounts receivable
- Cash
- Checking accounts
- Savings accounts
- Tax refunds
- Real estate
- The marital home
- Vacation property
- Vehicles
- Boats
- Trailers
- Household goods
- Antiques
- Art
- Life insurance policies
Debt division is also a financial aspect of a divorce. Debts that factor into the overall value of a marital estate include mortgages, car loans, credit cards and other installment loans. Both assets and debts acquired during the marriage but before the date of separation are divisible in divorce, even if the assets were acquired or the debts were incurred by only one spouse. Exceptions to the divisible debts principle may include gambling losses or intentional waste such as purchase of gifts for boyfriends or girlfriends in adulterous relationships by one spouse.
Discovery and disclosure of assets and debts is a key component of a divorce. Valuation of the assets may require the use of expert witnesses such as real estate appraisers and forensic accountants who have the skills and knowledge necessary to trace income and expenses.
Contact the Advocacy Law Center, APC, to schedule a free phone consultation regarding spousal support or any aspect of a California divorce. Credit cards are accepted.
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