Similarly, if business is held prior to marriage, but continued during marriage, the community will generally acquire an interest in that business if its value increases during the marriage. The spouse in control of the business may also attempt to deflate its value on business, while the other spouse may attempt to obtain a business evaluation which causes the business to have an artificially high value.
Furthermore, if a house or rental properties are owned prior to marriage, but improvements are made to the properties and/or the community property is utilized to pay down the mortgages, the community will typically acquire a partial interest in the properties. More complex issues arise where the properties are refinanced during marriage placing title in both parties’ names, cash is taken out of the properties, or the properties are put in a joint trust during marriage.
In addition, the division of different types of properties utilizing different techniques, can have different tax implications.
At the Buncher Law Corporation, our family law attorneys are experienced handling these sorts of complex property valuation and asset division issues. In handling such issues, we work with well qualified experts in the field of taxation, accounting and business evaluation, to best represent your interests.
Call the family law and divorce lawyers at the Buncher Law Corporation at (949) 398-8720 today to schedule a consultation. We pride ourselves on developing and maintaining close relationships with our clients. We serve clients throughout Orange County, North San Diego County and surrounding areas.