What matters in property division and valuation
The law says that the court shall order division of property in a manner that the court deems "just and right", having due regard for the rights of each party and any children of the marriage. Only community property is divisible by the court; the court cannot divest a spouse of his/her separate property.
The court will initially presume that all property owned at the time of divorce is community property. A spouse must prove that an item of property is his/her separate property . However, if separate property has been "comingled" to the point that the separate property status cannot be clearly determined, the court will be required to rule that such property is community.
Generally, community property is all property acquired during the marriage. However, exceptions do exist. Some examples of community property may include, wages earned during a marriage, retirement plan contributions, pension plans, 401ks, IRAs, homes, cars, stock options, country club memberships, life insurance and more.
Key Factors that Govern the Division of Property:
- Earning capacity and the ability to support oneself
- Education of the spouses
- Health of the spouses
- The size of a spouse's separate property estate
- Liabilities of the spouses
- Fraudulent conduct and wasting of assets
- Family violence
- Wrongful conduct
Keeping Your Business intact
Making a Difference Property Division Cases
Handling the Matter with Geary, Porter & Donovan, P.C. Family Law
We have extensive experience in complex property division, including:
- High asset divorce;
- Business and partnership interests;
- Real estate interests;
- Stock options and other forms of executive compensation; and
- Retirement plans/401(k) plans.
We set the bar high with uncompromising preparedness. We offer our clients access and the resources of our in-house multi-disciplinary legal team. As a result, we are nimble, thorough and proactive.
"We acknowledge and understand all aspects of a complicated family law case. We are meticulous with the details."
- Michael Geary