When you are going through a divorce, one of the most challenging aspects of this process for those involved is distributing assets. This is often because those with high-net-worth assets are unsure how to value this property to ensure the fair distribution of these assets for both parties involved. As such, if you are going through this process, it’s in your best interest to connect with a Los Angeles division of assets attorney who can help ensure your assets are valued properly to fight for the best outcome for you.
What Should I Know About How Assets Are Valued?
If you’re going through a divorce, there are many considerations you’ll need to make regarding the property you and your spouse have accumulated throughout your marriage. Generally, if you and your spouse cannot come to an agreement on how to distribute the assets you’ve accumulated, the courts will distribute your assets evenly between the spouses.
In some instances, property can be easy to distribute because there is a clear number attached. For example, dividing a joint bank account is as simple as splitting the balance down the middle for both parties. However, a house, car, or business cannot be split evenly. As such, you’ll find that these assets must be valued so they can be properly divided between spouses.
To accurately value these assets, they will be examined according to the market value as closely to the divorce date as possible. Additionally, you and your spouse may have to hire a neutral third-party appraiser to determine the value of certain assets if you receive conflicting opinions about the worth of assets.
Finally, you may need to hire an accountant to determine the value of a business. Companies can be notoriously difficult to value, due to the assets, debts, and different factors that can influence the details of your divorce.
Can an Attorney Help Me With These Matters?
When you’re going through a divorce, dividing property can be a complex, frustrating matter. Unfortunately, if you don’t have access to certain information, it leaves you vulnerable to your spouse taking advantage of you. As such, you should connect with an attorney as soon as possible. Not only can a lawyer help guide you through the divorce process, but they can assist in ensuring the value of the assets subject to division are valued accurately and divided fairly to help ensure you receive the assets you are entitled to.
If you are going through a divorce and have many complex issues, the Zitser Family Law Group is ready to assist. We understand the importance of this matter, which is why we are dedicated to helping you. Connect with us today to learn how we can assist you through these matters.
