A Fair and Equitable Distribution of Assets
In recent years, the use of Vallejo divorce mediation has increased. People are realizing that they probably would be well served to not each spend over $10,000 on a divorce. That's where Vallejo divorce mediation can help. Also, courts have shown a preference for resolving disputes outside of court. Courts prefer Vallejo divorce mediation. It's easier for them, and better for you.
Vallejo divorce mediation means that the parties attempt to negotiate a resolution through the help of a third party neutral family law attorney or other mediator. This Vallejo divorce mediator assists the parties in making agreements in light of the relevant law. It doesn't work for every case, but when possible, Vallejo divorce mediation is usually the best option.
In the U.S.A there are two very different divorce standards, equitable distribution and community property. There are currently 10 "community property" states and 41 "equitable distribution" states.
Keep in mind that the more you know about your state's divorce laws, the more organized you are and the more involved you are in managing your divorce- the better.
Essential things to remember about equitable distribution:
- Everything you acquired during your marriage is subject to division.
- You, not the judge, have to prove what assets exist.
- If you can prove your spouse did away with some assets with divorce in mind, the Court may award you a sum equal in value.
- If you have educated yourself on the state's laws you can then create, with your attorney, a strategy that will lead you to what you really want.
- You, as a partner in the marriage, are also responsible for any debts acquired during the marriage.
- It doesn't matter whose name or money was used to acquire the asset.
Only in Arizona, California, Idaho, Louisiana, New Mexico, Nevada, Texas, Washington and Wisconsin will division begin at 50-50 if the marriage ends in divorce. These are the only states that now have community property laws.
Many couples in
Bay Area family law offers attorney services for distribution of assets in the region. Our attorneys at BAFL have helped many couples achieve a fair and equitable distribution of property. While drawing up an agreement for distribution of assets for the clients, our attorneys take all the key factors that will substantially impact the future of the agreement. Factors such as increase in value of real estate or the tax ramification of a particular decision should be considered while drafting an agreement for distribution of assets as they will affect the agreement in the long-run. The experienced attorneys at BAFL are too meticulous to leave any key factor out while drafting the agreement for distribution of assets.
We can make referrals to financial experts and certified divorce planners who can assist our clients understand the issues relating to complicated property issues such as ownership of a family business, executive compensation packages, pensions, IRA’s, stocks, complex real estate ventures, and other assets which many have long-term tax ramifications.