On behalf of Robert Burch of Burch, Coulston & Shepard, LLP posted in Property Division on Friday, October 3, 2014.
Going through a divorce is probably one of the most difficult things that California couples will have to go through in their lives. Separating couples are forced to deal with not only conflicting emotions related to the end of their marriage, but also disagreements about their personal property.
One of the most contentious issues in divorces is property division and how the assets will be split among the ex-spouses. Because it can be very difficult to communicate and negotiate with a divorcing spouse, most couples will benefit from the mediation and guidance of skilled attorneys. We help our clients analyze their property holdings and financial situation to determine which assets are community property and which assets are personal property. This analysis helps each former spouse protect his or her unique interests. In many cases, it is necessary to look for assets that one spouse is attempting to hide or to defend against allegations that one spouse is not providing full disclosure.
Once all the applicable property has been identified, the process of valuation and division of the assets begins. This can be incredibly complex, but we aim to help our clients emerge from divorce in as sound a financial position as possible. We look at the need for spousal support, if it exists, and advise our clients on potential tax issues that can arise from a divorce settlement. Many people are so focused on the present moment during divorce proceedings that they do not realize that what they think is a good settlement is actually quite detrimental to their long-term financial health and stability. For more information on how our firm can help you navigate the murky waters of property division during a divorce, please visit our website.