The Division of Assets
Family law attorney Brad Crider might be best known for his knack and ability to handle the complex division of assets and debts in divorce proceedings. He is not only a numbers whiz, but his undergrad study in business administration lends itself well to this often complicated task. This makes him a strong ally if you're involved in a divorce where real estate holdings, businesses and investments are among the assets to divide.
The division of assets in a divorce proceeding can either be extremely simple or extremely complicated. There are essentially three basic steps involved:
- Identifying all property and debts
- Separating property and debts into either community property or separate property
- Valuation of community property and debts
Separate or sole assets and debts are those acquired before the marriage whereas community assets and debts are those acquired during the marriage. These assets might also include inheritances and gifts. Both separate and community assets and debts must be clearly identified and valued in order to determine how to split them up fairly during the divorce.
Even though it may seem like a simple process, it can become quite complicated. For example, in some cases, a piece of property can actually be determined to be partially community and partially separate. An experienced attorney who has been involved in complex division of assets and debts before will play an important role in swaying the court as the division of the assets are determined.
Contact Crider Law to set up your initial consultation today. Let Brad discuss your case with you and give you a basic plan in moving forward. The last thing you'll want to do is go into a complex and complicated division of assets on your own. Attorneys are well informed on the legalities and strategies used to reach the most optimal outcome.