Property Division Lawyers
Helping You Protect Your Assets through the Mediation Process
During the course of a marriage, a couple accumulates a great deal of property and assets that are considered community property and belongs to both people equally. However, during a divorce, couples must determine fair division of that property. Without help from a skilled divorce mediation lawyer, these negotiations can quickly go from challenging to highly contentious. Rather than turn to litigation or allow the process to become prolonged and stressful, allow us to guide you through mediation and help you find a resolution that works for your needs.
Asset Division in High Net Worth Divorce
Because California is conserved a community property state, any assets shared with the spouse during the marriage is considered fair game for property division during a divorce. The only exception to this rule is if you have a valid prenuptial agreement with different specifications as to how the property should be divided following a divorce. Property acquired before the marriage, or following the separation, is considered separate property and is generally exempt from property division.
The valuation process can be a lengthy one, particularly in high net worth cases. Just a few of the things that will need to be evaluated include:
- Real estate
- Stock options
- Intellectual property
Once the worth of all of these assets is determined, the property division can begin. In some cases, it may be helpful to hire a forensic accountant who is trained to analyze, condense, and present complex financial information so it is understandable to all parties.
Real Estate Division in California
The first step for couples dividing their assets is to file a “Schedule of Assets and Debts.” This is a comprehensive list of everything the couple owns communally, as well as what each party owns individually. It is critically important that this list be thorough and honest, as failure to include items can result in substantial penalties.
A Schedule of Assets and Debts must include:
- Owned homes or apartments
- Land assets
This information is then used to determine a fair division of assets based on factors such as who contributed more to the property. Marital agreements are also taken into account here, of course, as will pre-existing debts. The total value of these assets will then be used to divide the total property fairly. In some cases, one spouse may be able to “buy out” the other, but this is fairly uncommon due to high real estate values.
Protecting Your Intellectual Property
Because intellectual property does not have a tangible presence, but can nonetheless represent a substantial source of income, it is important to have a trained property division attorney help you make decisions that protect your property in the long term.
Our team can help you divide many types of intellectual property assets, such as:
Find Fair Property Division Solutions through Mediation
All aspects of a divorce can be handled through mediation. When a couple chooses this route, they are saving the time, money, and stress that are often a huge part of litigation. At Alternative Divorce Solutions, we are highly knowledgeable about the legal implications of property division and can help ensure that your needs are fully met. We are here to provide skilled navigation through these complex challenges.
Property division can include the following types of assets:
- Bank accounts
- Mutual funds
- Personal property
- Real estate
- Retirement funds
Knowledgeable & Compassionate Legal Care
Our team of dedicated divorce mediation attorneys work tirelessly to help our clients find solutions that work for everyone.
At Alternative Divorce Solutions, we truly care about our clients and protecting their best interests. Call us at (949) 558-2624 to schedule your free consultation to find out more about how we can help you.
“Thank you for all your knowledge, conscientiousness, and kindness.”- Beverly
“First and foremost, I found that I had a lot to learn about the divorce mediation process. I did not exactly know what the role of the mediator was or if we would still have to go to Court.”- Donald B.
“I was so stressed out before I went to ADS. Once I got there Lani sat with me and my husband and explained the whole mediation process. After I left I knew exactly what to expect and ADS lived up to my expectations.”- Giz S.