Sacramento Complex Property Division Attorneys
The income you bring home accounts for only a small part of your net worth. Real estate, vacation homes, investments, and vehicles figure into your overall value, and those assets are at risk when you file for divorce. When a couple files for a divorce, property is often the first thing that comes to mind. Deciding who walks away with what can cause bitter arguments and delay the divorce process for months or years. The more complex the assets, the harder they are to evenly divide. If you are facing a divorce or already going through one and you need help better understanding how asset and property division is decided, contact an experienced Sacramento, CA complex property division lawyer for help in understanding the process and to help ensure you keep the property you deserve.
The team of Sacramento complex property division lawyers at Boyd Law understands the costs associated with divorce and complex property division. Our goal is to help clients come to an amenable settlement quickly so they can move on with their lives.
How Does Complex Property Division Differ From Regular Property Division?
In California, any asset acquired during the marriage constitutes community property. The courts expect couples to split community assets down the middle. However, property separation is rarely as simple as “one person gets the main house and the other person gets the beach house.” Cases of complex property division include property difficult to assign value to or divide evenly. It may include assets such as business interests, pension rights, intellectual rights, and royalties. If a couple has a prenuptial or postnuptial agreement or an individual has other asset protection strategies in place, determining who gets what takes time and expertise.
Determining Pension Division
Some individuals may have more than one pension or retirement account. In some divorces, both spouses have pensions and retirement accounts. To determine valuation and the amount of pension each person will receive, an appraiser will need to obtain information from the pension administrator. Factors such as the payment commencement date, the source of funds contributions, and the current value may affect how courts divide pension and retirement benefits. To obtain pension benefits after a divorce, spouses need to attach a Qualified Domestic Relations Order (QDRO) to the marital settlement agreement.
The Subjective Nature of Valuation
Appraisers do not have a rulebook that helps them determine the exact price of each asset. Instead, they rely on their own market experiences and asset types to dictate valuations. In amicable divorces, a couple may decide to use one appraiser and trust his or her asset valuations. In other cases, both spouses may insist on individual appraisers. When two appraisers disagree about an asset’s valuation, resolving the resulting disputes takes additional time and money.
An item’s nature also affects valuation. Some assets, for example, can fluctuate between the time a spouse files for divorce and when the court approves a divorce. If a spouse has control of the valuation of an asset, the timing of the valuation matters. For instance, if the couple owns a small farm together, one spouse could theoretically drive the value down after learning about the divorce. In these instances, the valuation should reflect worth at the time the couple decided to separate.
Finding a Complex Property Division Attorney in Sacramento, CA
Every property division case is different. People invest their money in separate assets and have unique goals for property settlement. At Boyd Law, our complex property division lawyers in Sacramento, CA have access to a network of professionals who specialize in forensic accounting, appraisals, and asset valuations.
Our Boyd Law family lawyers in Sacramento, CA understand the work it takes to resolve unfriendly property division disputes, and we have a profound respect for the time it takes to reach a property settlement. Our Sacramento complex property division attorneys will help you agree on a fair settlement while moving your case forward as quickly as possible. Schedule a free consultation, and call our Sacramento office today to learn more about our approach to complex property division.