Free Consultation May Be Available 916-900-1336
Main Menu

property division Archives

Hiding assets in a California divorce can be risky

California law requires both parties to a divorce to make a full and complete disclosure of their assets to the other party. Occasionally, one or both parties will attempt to prevent the other spouse from learning about certain assets with the intent of preventing the court from making an equal property division as required by California law. Those who attempt this gambit often fail, and they may face very serious penalties.

Dividing property and debts in a California divorce

The California legislature presumably decided to make property acquired during a marriage community property to simplify divorces. This choice often has the intended outcome, but many divorcing couples still run into problems in negotiating property division issues.

What happens to pets in a California divorce?

An issue that is often overlooked in the early stages of a California divorce is the disposition of pets. Occasionally, only one spouse wants to keep the family pet, and the issue is easily resolved. In many families, however, both spouses and the children form intense emotional attachments to the family pet. Sometimes, these attachments can be as difficult to resolve as issues of child custody, visitation and property division.

Using a business appraiser in a California divorce

Many California couples own stock in one or more small businesses. In the event the couple decides to end their marriage, they may need to value the stock they own. If a divorce is not contested as to property division, an appraiser may not be needed. If, however, the spouses disagree on the worth of their business, an appraisal by a qualified business appraiser may be required to establish the value of the business. Some businesses cannot sold without destroying their value, and an appraisal of the value of the business can help the parties or the court divide the marital estate equally.

How to divide the value of a house in a California divorce

For most divorcing California couples, their house is their biggest asset, and the mortgage is likely to be the largest debt. California's community property law does not give couples much latitude in how to divide the equity in the house, but several property division options are nevertheless available.

Cyber technology provides new tools for finding hidden assets

When a couple has decided to end their marriage, one or both spouses may try to attempt to hide assets from the other spouse. For example, a person facing a divorce may try to hide marital assets from California's community property laws by creating a secret bank account or stock market account. Recent advances in computer technology have greatly increased the difficulty of successfully hiding assets that must be disclosed during the property division process.

Using appraisals to value real property in a California divorce

Even though California is a community property state, dividing assets in a divorce can prove to be a contentious problem. If a couple has acquired significant amounts of real property during their marriage, each of them is entitled to 50% of the value of the property. Liquidating the holdings can provide a simple method of arriving at a 50/50 division, but in many cases, some or all of the holdings cannot be sold without a significant loss in value. In such cases, an appraisal of the value of real property by a qualified appraiser can aid the process of property division.

Using a buy-sell agreement to protect corporate stock in divorce

One of the most disruptive events in the life of a closely held corporation in California is the divorce of one of the owners. Without prior planning, a shareholder's divorce could insert the shareholder's former spouse into the management of the corporation if the stock is a community asset. Also, a shareholder may be forced to sell valuable stock at a loss in order to satisfy a property distribution order. A well-drafted stock transfer agreement or buy-sell agreement can eliminate these risks.

Don't play guessing games with student loans during divorce

When you think about contentious divorce issues, you may consider custody and parenting time as being the toughest problems to resolve. However, dividing marital debt may be just as complicated and arduous as anything dealing with where a child will live. Additionally, California family court judges have a great deal of discretion in how they allocate debt. With this possibility, the responsibility for paying particular debts may not always lie with the person who took out the loan or credit card. 

Firm Location:

Gary, Till & Burlingham
5330 Madison Ave., Suite F
Sacramento, CA 95841

Phone: 916-900-1336
Fax: 916-332-8153
Sacramento Law Office Map

Firm Numbers:

Visa | MasterCard | American Express | Discover Network
Review Us