Property Division in a Carlsbad or North County Divorce isn’t Just Dividing All Assets in Half

Pierre Domercq Divorce

Here in California, community property is to be divided equally and equitably in most Carlsbad and North County divorce cases. However, this doesn’t mean you sell every asset, pay off every debt and divide the remaining money equally between the parties. Part of the expertise and art of divorce and family law is the ability to fairly and equitaby offset specific assets and liabilities in order to reach a fair community property settlement.
What if one of the parties wants to keep or remain living in the family home? How do you handle closely-held business interests or valuation of professional practices? How do you offset one spouse’s community interest in an asset without having to sell it?
For example, if the former husband and wife own a successful and viable business you often do not wish to sell that business. It may be difficult to receive fair compensation for what the business is worth, and part of the value of the business is based upon the unique individuals who are running it.
In these cases property division can be quite complex. The property division may need to ensure that the ownership interests are clearly defined and a proper valuation is in place, yet order the continuation of the business and that each party will continue to earn their living by working for the company.
In some cases the parties respect the “Goodwill” each brings to the table and the effective contribution they make to the ongoing business. They are able to continue their active roles in the company
Or perhaps the settlement agreement, in this situation, might contain a “phasing out” of one of the parties over time supported by appropriate compensation for lost income as well as their portion of the business asset.
One of the parties may need to move on if they cannot work together after the divorce. In this case, 50% of the valuation must be “offset” by other assets of the couple including equity in the family home, investments such as stocks or bonds or a promissory note secured by a continuing interest in the business itself.
When a North County or Carlsbad divorce involves complex assets such as business ownership, multiple properties or investment real estate, investment accounts, retirement vehicles such as a 401(k) or a pension our experienced and seasoned attorneys work to protect your interests while developing a community property settlement that fairly and equitably compensates you without disrupting on going business operations or investments that have not yet come to maturity.
These cases require attorneys with extensive experience and expertise, as well as effective negotiation, mediation and trial skills. The lawyers at Burke & Domercq have received recognition from major legal industry sources. We have a proven track record across decades here in North County of achieving results for our clients, especially in complex cases involving business ownership, investments and substantial assets.