High-Asset Divorce & Complex Property Division

Dividing Marital Property
At the Law Office of Coggins and Johnston, our attorneys assist and represent clients in regard to the following marital property issues:

• Division of marital debt - credit cards and loans
• Moore-Marsden home equity issues
• Qualified Domestic Relations Orders
• Division of pension benefits, 401ks, retirement funds
• Business evaluations for closely held businesses
• Joint bank accounts
• Stock portfolios

Considering Debt - An Important Part of the Division of Marital Property
While dividing marital property is important, determining and dividing debt is inevitably a part of the process as well. While you and your ex-spouse are responsible for any loans or lines of credit held jointly, you may also be held accountable for debt that does not have your name attached to it. Since credit card companies and banks are not concerned with what terms your divorce agreement contained in it in regard to the settlement of debt, you could find yourself the target of collection agencies and banks if your ex cannot pay on debts he or she accumulated during your marriage.

Community Property Division
California follows a community property division of marital assets, which determines how family assets that were acquired during the marriage will be divided upon divorce.  For example, community property division decides who gets the house or the business, who can stay in the family home with the children, who gets which car, the life insurance policy, pension funds, profit sharing plans and stocks, and even who will be responsible for certain debts, such as IRS tax debts and credit card debts.

The key to a successful division of community property in your favor is the proper valuation of community property.  Almost every asset and debt obtained within the scope of the marriage will be independently valued and subject to community property division.  Separate property interests, whether kept separate by contract or individually owned premarital property, will not be considered community property.  Valuation of the family home or business, car, property and real estate, valuable personal property such as antique collections, and other real and tangible property may impact the amount of spousal support that will be due.  With over 34 years’ experience, our attorneys can help you value your assets and home in an appropriate way to ensure you receive the greatest property interests in them possible.