You and your spouse were avid collectors of art. You collected it from unknown artists and from people who were fairly well-known in the art world. Today, you're divorcing, but you have a problem. You have dozens of pieces that you feel are probably of little value, but your spouse wants to have them all appraised. Is it worth it? You know what they cost, so should you just divide them by their original value?
When you have a business, stocks, retirement accounts and other complex assets, dividing them upon divorce can be difficult. You may not know how much each asset will be worth, or want to give certain assets up.
When it comes to divorce, it's probable that you're going to have some complex issues when dividing your property. You might struggle with deciding how to divide your retirement accounts or be worried about the best way to split your home or major assets.
Property division isn't always easy. This is particularly true when you have complex property division concerns. For example, you might have an inheritance that has been shared from time to time, or you may have savings or retirement accounts that you need to divide.
When you're in a marriage with many assets, the idea that you'll have to divide them between you and your soon-to-be ex during a divorce can be daunting. You need to be aware that California's laws require you to divide your assets equally unless you have a prenuptial or postnuptial agreement in place. If you do, then your divorce may follow those arrangements unless the judge determines that the pre or postnuptial agreement is not valid.
There are some divorce cases that are more complex than others. Some involve factors such as alimony, child custody, child support and more. If you own trusts, retirement accounts and other high-value assets, your divorce could be complicated and require a skilled hand to guarantee that you're as protected as possible.
While hiding assets during a divorce is illegal, there's always a sneaky spouse out there that thinks that they won't get caught. If they are really good at their game, then they could rob you of access to assets you'd otherwise be entitled to when you divorce.
When it comes to how marital assets are split up, it's important to know that California is a community property state. This means that anything that a couple acquires during a marriage is subject to being split 50-50 between the two if they divorce.