Category Archives: California Divorce

Do You and Your Divorcing Spouse Own a Business?
California Divorce, Property Division, Property Division

Do You and Your Divorcing Spouse Own a Business?

Dividing assets in a California divorce can be challenging, especially when the spouses jointly own a business. What will happen to your business in the divorce? A variety of factors come into play with business valuations in a California divorce property division. Do you and your divorcing spouse own a business? California Family Law Attorney Judy L. Burger reviews some common challenges.

Jointly-Owned Businesses Are Community Property in California

In the state of California, the concept of community property applies in divorce or legal separation cases. This means that all assets and property acquired by the couple during the marriage are divided equally. Any property or debts obtained while the marriage is intact are considered community property, while separate property includes assets owned by one spouse before the marriage or gifts given only to one spouse.

Separate property is not subject to division in a divorce case, as the courts do not have the authority to distribute one party’s separate property to the other.

In divorce cases, a business owned jointly by the spouses is classified as an asset and is subject to division between the parties. Valuing the business can be difficult as each spouse may have different opinions about its worth, and some of these opinions may be challenging to quantify objectively. As a result, disputes and conflicts frequently arise in these situations.

Court Considerations When Dividing a Jointly-Owned Business in a Divorce

Courts weigh many factors when dividing a business. Attorney Judy L. Burger works with various real estate, business, and financial professionals to establish the best valuation of your business to facilitate a fair and equitable division of assets. However, there are many legal and intangible factors that come into play when seeking the most equitable division of a business and its assets. Here are some of the critical factors the court will weigh in its decision:

  • Did the business exist before the marriage?
  • Was your spouse formally added to the business’ ownership documentation?
  • What is the business’ legal structure (sole proprietorship, LLC, partnership, S-corporation, etc.)?
  • Is there a formal partnership agreement including the spouse?
  • Has the business been operated under a sole proprietorship, although both spouses worked in the business?
  • Are other partners involved besides the divorcing spouses?
  • What is the percentage owned by each partner?
  • How involved was each spouse in running the business?
  • What value does each spouse bring to the business?
  • Did one spouse borrow from family funds to buy something for the business?
  • Can one partner buy out the other(s)?
  • How will the remaining family assets and liabilities be divided?
  • How will each spouse earn a living outside of the business?

What If I Owned the Business Before the Marriage?

If you started your business before getting married and did add their name to business documents or legally make them a co-owner, the business may be considered separate property in a divorce. This could protect the business from being divided as community property.

However, you may still have to share the business’ appreciation that occurred during the marriage. During your marriage, the increase in value of the business and the income generated may be viewed as community property.

Also, your spouse’s contributions to the business during your marriage will be considered. This may involve actively working for the business or supporting the household while you focus on work.

Get Help with Business Valuations and Property Division in a CA Divorce

Determining the value of a business in a divorce case is a complex task that requires specialized skills and knowledge. Certified Family Law Specialist Judy Burger collaborates with seasoned valuation experts to guarantee an equitable and precise assessment of your business. She is dedicated to upholding fairness and protecting your rights throughout the divorce and property division process.

Contact The Law Offices of Judy L. Burger for more information and to schedule a consultation.

 

Common Legal Separation Myths
Legal Separation, California Divorce

Common Legal Separation Myths

Family law is complex, and misunderstandings abound. Perhaps nothing is more misunderstood than legal separation. Disagreements can arise and cause both parties to give each other some space; this is not, however, a legal separation. This and many other myths frequently cause confusion and serious mistakes.

Attorney Judy L. Burger is a Certified Family Law Specialist in California who can help you understand divorce, separation, and related issues more. She shares the truth about a few common legal separation myths so couples can make wiser decisions for their future.

Myth #1: Legal Separation Means Physical Separation

“We’re married but haven’t lived together for over two years; I guess you could say we’re separated.” We hear this often in our law offices, and it highlights the popular confusion over “separation.” Fortunately, the California legislature cleared up this ambiguity in 2017. Family Code 70 states the following:

(a) “Date of separation” means the date that a complete and final break in the marital relationship has occurred, as evidenced by both of the following:

  • The spouse has expressed to the other spouse his or her intent to end the marriage.
  • The conduct of the spouse is consistent with his or her intent to end the marriage.

(b) In determining the date of separation, the court shall take into consideration all relevant evidence.

(c) It is the intent of the Legislature in enacting this section to abrogate the decisions in In re Marriage of Davis (2015) 61 Cal.4th 846 and In re Marriage of Norviel (2002) 102 Cal.App.4th 1152.

According to this interpretation, a husband and wife may still live in the same home and be legally separated. A legal separation judgment divides assets and other agreements but does not dissolve the marriage. A physical separation simply means the husband and wife no longer reside together. It does not automatically become a “legal separation.”

Myth #2: I Can File for Legal Separation Independent of My Spouse

This myth is born of independence and alleges that a husband or wife may file for legal separation without the consent of the other. In most cases, this is false.

California Family Code Division 6: Nullity, Dissolution, and Legal Separation; Chapter 4: General Procedural Provisions; Section 2345 states, “The court may not render a judgment of the legal separation of the parties without the consent of both parties unless one party has not made a general appearance and the petition is one for legal separation.”

Essentially, this means that both spouses must agree to the court’s judgement of legal separation. In rare cases, a petitioner may ask for legal separation, but the other spouse never responds. The petitioner may then file for a default judgment of legal separation from the court.

Myth #3: Spouses Choose Legal Separation Because They Don’t Believe in Divorce

Legal separation or divorce are intensely personal choices that are made for numerous reasons. Some couples eschew divorce over moral or religious beliefs, but far more choose legal separation for other reasons. These can include:

  • Tax benefits
  • Insurance or retirement benefits
  • Military spouse benefits
  • Less emotional trauma for the family

Discuss with your CA Family Law Attorney whether divorce or legal separation is best for your circumstances.

Seasoned Help with Divorce and Legal Separation

California Certified Family Law Specialist Judy Burger has walked with many couples through legal separation or divorce. She can explain how each works and how the particulars apply to your unique situation, including custody arrangements, property divisions, and more. You have rights and options under the law. Contact The Law Offices of Judy L. Burger in California to get the facts and sound advice on how to proceed.

 

Father’s Rights in California
California Divorce, Child Custody, Child Support, Termination of Parental Rights

Father’s Rights in California

Popular myth perpetuates the misnomer that mothers have more rights than fathers in divorce and child custody. This is simply not true. California law seeks to treat mothers and fathers equally unless a parent surrenders their rights or mitigating circumstances warrant different arrangements. Knowing a father’s rights in California is critical to avoiding serious mistakes during custody and other arrangements.

Attorney Judy L. Burger is a Certified Family Law Specialist in California who can explain more about a father’s rights and help you be treated fairly in child custody negotiations. Here are some important elements of a father’s rights in California.

Child Custody, Support, and Visitation and California Law

According to California Law Family Code Section 3020(b), children are to have “… frequent and continuing contact with both parents after the parents have separated or dissolved their marriage, or ended their relationship, and to encourage parents to share the rights and responsibilities of child-rearing in order to effect this policy, except when the contact would not be in the best interests of the child…”

Section (c) states, “… a court’s order regarding physical or legal custody or visitation shall be made in a manner that ensures the health, safety, and welfare of the child and the safety of all family members…”

Custody

Fathers should never assume that mothers automatically receive primary custody of a child. California law upholds equal rights for a legally established father to have primary custody of his child. He may also be eligible to receive child support from the mother.

Support

Non-custodial parents typically must pay child support according to state guidelines and the family’s court’s orders. This support agreement is calculated by reviewing both parents’ income, age, and other relevant factors. As stated earlier, fathers can be custodial parents and receive child support from a child’s mother.

Visitation

Fathers enjoy equal visitation rights to their children in California when there are no mitigating factors. Visitation agreements may include modified schedules for summer or holidays that even provide non-custodial parents with more time. In most cases, it is illegal for a custodial parent to prevent the non-custodial parent from visiting with their child.

Establishing Paternity in CA

Establishing your paternity is vital to enjoying your rights as a father. No custody, support, or visitation agreements including you may be established without this legal declaration. Married parents can establish this without legal action. Unmarried fathers may require a court action establishing their paternity. Family Law Attorney Judy Burger can help you legally establish paternity in California.

Declaration of Paternity

Unmarried parents may both complete and sign a Declaration of Paternity. This has the same status as a court order to establish paternity and doesn’t require going to court.

Petition to Establish a Parental Relationship

When there is a dispute between the birth mother and a potential father about paternity, the father may file a Petition to Establish a Parental Relationship and formally open a parentage case before the court. A family law judge will review evidence presented in court and establish or deny paternity. A birth mother may also file this petition to establish the parentage of her child’s father in order to secure child support.

Exercise Your Father’s Rights in CA

Fathers have the right to be part of their children’s lives in California. Don’t surrender your rights or otherwise accept a poor custody and visitation agreement as a father. The law guarantees you equal treatment to enjoy parenthood even after a separation or divorce. California Certified Family Law Specialist Judy Burger can explain more about fathers’ rights and negotiating equitable custody, support, and visitation agreements in a confidential consultation.

We have eight offices across California, including in San Francisco, Ventura, Silicon Valley, Oxnard, and Santa Barbara. Contact us today to schedule a free initial consultation to learn more.

 

Domestic Violence and Parenting Plan Modifications
Domestic Violence, California Divorce, Child Custody, Mediation, Restraining Order, Termination of Parental Rights

Domestic Violence and Parenting Plan Modifications

Parenting plans are created to meet the unique needs of a divorced or separated family. When domestic violence has been present, your parenting plan needs to provide safety for you and your children. California Certified Family Law Specialist Judy L. Burger helps families when domestic violence makes parenting plan modifications necessary.

What Is a Parenting Plan?

A parenting plan is a comprehensive set of agreements for how separated or divorced parents will care for their children. It includes many factors, including:

  • Custody agreements
  • Visitation schedules
  • Sharing costs for the child’s care
  • Arrangements for holidays and school breaks
  • Exchange arrangements
  • Phone and video contact with the children
  • Communication between parents
  • Authority for making decisions for the child
  • Religious matters
  • More…

No two parenting plans are the same due to differing schedules, needs, locations, and many other factors. The factors above and many more should contain elements that keep you and your child safe when there has been domestic violence.

Creating a Parenting Plan

Often, parents work together to create a workable parenting plan to care for their children. The court will review this plan, determine if it needs legal requirements, serve the child’s best interests, and approve it. However, in cases of domestic violence, this may not be possible or safe. You may need a legal representative to act on your behalf to create or modify an existing parenting plan to help you and your child stay safe.

Your attorney will need to provide credible evidence of domestic violence and prove beyond a reasonable doubt that it is likely to continue. Then, a judge will be far more likely to agree to a parenting plan or modifications to an existing plan that contains elements to prevent future harassment or abuse.

Family Law Attorney Judy Burger is an effective negotiator if you feel threatened or fear mistakes in an agreement could place you or your child in jeopardy. She has a wealth of experience in working out parenting plans and custody agreements in difficult situations. In some cases, the judge will ultimately decide the best agreement. This is particularly true in cases of substance abuse, domestic violence, mental illness, or incarceration.

Domestic Violence and Parenting Plan Modifications

Sadly, domestic violence does not cease after separation or a divorce. In fact, the separation may only antagonize the other party and cause conflict to escalate. Your parenting plan needs to include specific provisions to prevent contact wherever possible. Vague or unclear parenting plans open the door for more abuse or harassment.

A CA Domestic Violence Attorney like Judy Burger has the knowledge and experience to include certain specific elements in a modified parenting plan to prevent contact, communication, and unsafe situations. Some measures she may recommend can include:

  • Keeping your living arrangements private and secure
  • Having a neutral third party exchange the child between parents
  • Exchanging the children in a public place in full view of security cameras or guards
  • Restricting communication between parents and children (prohibiting video calls so the other parent cannot see into your home)
  • Using an app for all communications so there is documentation
  • Keeping travel plans and daily activities private
  • Sole legal custody

The Law Offices of Judy L. Burger knows how to gather evidence to help convince the court that your proposed parenting plan modification is in your and your child’s best interests. She can represent you before the court, handle communications and negotiations, and otherwise help you remain safe during the proceedings. Our office can also help you when domestic violence or gun violence restraining orders are necessary.

Keep Your Family Safe from Domestic Violence

Domestic violence survivors may fear discussing custody and parenting plan modifications with the other parent. Relationships can be difficult, and meeting in person may not be safe. Reaching a safe agreement with the other parent may not be possible, especially without help. Keep yourself and your family safe from domestic violence. Contact The Law Offices of Judy L. Burger in California for experienced help with parenting plan modifications.

Top Reasons to Seek CA Child Support Modifications
Child Support, California Divorce, Debt, Disability

Top Reasons to Seek CA Child Support Modifications

Child and spousal support are critical responsibilities after a divorce. As life changes occur, you may need to make formal child support modifications to your original agreement. The Family Court must approve any changes, but it is always best for both parents to present a workable plan to the court. Certified Family Law Specialist Judy L. Burger examines why you may need to seek child support modifications in California.

Income Changes

Any changes in your income of 20% or more warrant examination for a possible change in your child support amount. This includes:

  • Increases: Increases may raise your payments.
  • Decreases: Decreases may reduce your payments depending on the nature of the decrease.
  • Job loss: If a parent loses a job, the court may temporarily reduce payments until they secure new employment, then make a more permanent determination.
  • Self-employment: This type of employment can fluctuate, requiring adjustment or some other modification.
  • Retirement: This often makes significant changes in income, usually decreases, and will require an adjustment.

Never assume that changes to your child support payments can be made on your own when things change. All changes must be agreed upon by both parents and approved by the court. CA Family Law Attorney Judy Burger can help you navigate this process to ensure your child’s best interests are met.

Custody Changes

Custody agreements can change and reflect a need to modify child support arrangements. The time a child spends with each parent is a primary consideration. Common reasons for a change in custody include:

In most cases, the non-custodial parent pays child support to the custodial parent. If the custodial parent changes, this likely means a change in the amount of child support. The child’s needs and the new custody arrangements must be reviewed to create a workable agreement. Typically, the custodial parent spends more time with the child and contributes more to their care.

Changes in the Child’s Needs

Children grow and change, and this creates new and different needs. The most common changes in the child’s needs that demand support modifications include:

  • Education: As children age, they can require more resources for their education, such as school supplies, activity fees, or college tuition.
  • Living expenses: As children age, their tastes and needs change, including clothing, food, daily essentials, and incidentals.
  • Medical expenses: Developing medical conditions or treatments not covered by insurance, like wisdom teeth removal and orthodontics, can require extra resources.
  • Extracurricular activities: Children can pursue all forms of sports, music lessons, hobbies, and school clubs that may require additional financial resources.
  • Unpaid child support: If one parent falls behind on child support payments, the court may order a modification to ensure the child is receiving proper care and support.

Parents can agree on how they’ll handle the new payments. However, they still need a judge to sign off on the agreement and ensure it meets the requirements for a child support modification. So, any verbal agreement should be put on paper and certified by a family law judge.

Get Help with CA Child Support Modifications

Every family is unique and has different child support needs. No two support agreements are alike. Working with a seasoned family law attorney is the best way to find solutions to complex support issues that meet your family’s needs while satisfying the family court’s requirements. A lawyer should review any change in your situation to see if it warrants changes.

Certified Family Law Specialist Judy Burger has extensive experience helping families create workable child support agreements and modifications as life changes. She is an effective negotiator and problem-solver who can help you find solutions that fit your family’s needs. Contact one of her offices across California to schedule a consultation today.

 

Child Custody and Establishing Paternity
Child Custody, California Divorce, Termination of Parental Rights

Child Custody and Establishing Paternity

Children deserve to have a strong bond with good parents and be protected from inappropriate, dangerous, or abusive behavior. This is why child custody matters are so critical. Obtaining custody of your child and establishing paternity can be a tough challenge, but experienced legal guidance and representation can help.

Attorney Judy L. Burger is a Certified Family Law Specialist in California with extensive experience in child custody and paternity cases. She discusses these vital issues below.

Why Is Paternity So Important?

Establishing a child’s legal parentage is critical because many things depend on it. Legal parents have significant rights and responsibilities that directly influence the child’s well-being.

Legal parents:

  • Can ask for custody and visitation
  • Are required to support their child financially
  • Are listed on a California birth certificate
  • Can bequeath financial benefits to their child
  • Can guarantee U.S. citizenship, even if the child was born outside the country

Determining a child’s legal parents can involve emotional and complex issues and is best handled with the guidance of a family law attorney. Judy Burger can help you establish parentage of a child in California.

Ways to Establish Legal Parentage

California law establishes legal parentage in the following circumstances:

  1. You are the child’s birth parent (not a surrogate)
  2. You and the other parent were married or registered domestic partners when your child was born or conceived 
  3. You and the other parent filed a Declaration that establishes you as the legal parents
  4. A judge determined that you are a legal parent in a court case

You and the other parent can establish legal parentage for your child by completing and filing a Voluntary Declaration of Parentage (VDOP) form. This is typically done when the child is born but can be completed later. This becomes a binding legal document similar to a court order.

A California Family Law Court can determine the legal parentage of a child and establish child custody and support orders if necessary. California law allows fathers up to three years after the child’s 18th birthday to legally establish paternity.

Father’s Rights and Paternity

California law distinguishes between a “parent” and a “biological father.” Once the biological father has established his parental rights, he can legally request custody or visitation, pay or receive child support, and make decisions on the child’s behalf. The mother cannot deny the father’s legal rights once paternity has been established unless exceptional circumstances have been recognized by the court.

Although a man may be the biological father of a child, paternity can only be legally established through adoption, marriage, or a court order. If a child is born outside of marriage or as a result of an extramarital affair, the biological father has no legal rights. In such cases, the woman’s legal spouse would automatically be granted paternity rights over the child. However, a biological father has up to two years from the date of the child’s birth to petition the court for a paternity test.

Experienced CA Child Custody and Paternity Lawyer

Judy L. Burger is an experienced CA Child Custody and Paternity Lawyer with eight offices across the Golden State. She is a Certified Family Law Specialist with extensive knowledge and expertise in handling volatile and complex cases where paternity is an issue and child custody questions are at stake. When your family life and responsibilities are in question or other problems arise with paternity, Ms. Burger can help you fight for what is best for your child.

Contact her nearest office today to schedule a confidential consultation to discuss your situation and get sound legal advice. Judy and her team care, and we know how to help.

Splitting Liabilities in a CA Divorce
Property Division, California Divorce, Property Division

Splitting Liabilities in a CA Divorce

Dividing assets and liabilities in a California divorce can be problematic. Some elements of property division are not cut and dried, and many factors can influence how these arrangements are made. Many are concerned about getting their share of the assets from a marriage, but what happens to the debts?

Certified Family Law Specialist Judy L. Burger addresses the complexities involved in splitting liabilities in a CA divorce and how she can help.

Community Property and Debt

California operates under the community property principle, a system designed to ensure fairness. This means generally that, in the absence of other arrangements, both parties will receive an equal share of everything they acquired while married. Any separate property owned before the marriage or obtained after the separation remains the owner’s sole property, providing a sense of security in the process. There are complex exceptions to the division of property acquired during marriage or prior to marriage. 

However, the community property principle also applies to debt. Other arrangements can also come into play here, but typically, both parties in a divorce are responsible for half of the debt incurred  during the marriage.. Unfortunately, these issues are not always so black and white—they more often appear filled with grey areas.

A CA Property Division Lawyer like Judy Burger can work with you to help make the best decisions and arrangements.

Dividing Debt in a California Divorce

Property division can be confusing because of so many potential exceptions relating to community, separate, and co-mingled assets. Here are just a few potential examples:

  1. The divorcing couple’s marital debts are greater than the value of their community assets. A family law judge may assign more debt to the spouse earning more income.
  2. Some marital debt incurred by one spouse may be ruled as separate debt by the judge due to extenuating circumstances (like a cheating spouse using family money to buy gifts or fund travel for the affair).
  3. Student debt funded by marital income may be ruled as separate debt to the one benefitting from the education. One spouse may be directed to reimburse the other for a portion of the student debt already paid.

Complex situations like these are why you need an experienced CA property division lawyer on your team to help ensure you are treated fairly.

Date of Separation and Property Division

California is somewhat unique in that it uses the date of your separation to distinguish between most marital and separate property. Most other states use the official date of the divorce. Once both parties agree the marriage is over, they are considered to be leading separate lives (even if they still live together). From that moment, both are acquiring separate assets and debts.

This is a significant matter in your divorce, but agreeing on a specific date of separation can be tricky. The exact date can be argued from many points and affects which assets and debts are to be retained, split, or surrendered to the other spouse.

Get Experienced Help with CA Property Division

California Certified Family Law Specialist Judy Burger has the resources, working relationships, and expertise to help with the most complex property and debt divisions and business valuations. She harnesses the expertise of various professionals to help ascertain pertinent facts that influence who should be responsible for debts and how assets are to be divided.

Spouses and their attorneys cannot always be trusted to act fairly, so you need an experienced lawyer guarding your best interests. Decisions and arrangements made during these negotiations can affect your life and future. Contact Attorney Judy Burger at one of her eight offices conveniently located throughout California to schedule a consultation.

 

What Makes a CA Certified Family Law Specialist Different?
California Divorce, Child Custody, Child Support, Domestic Violence, Mediation, Property Division, Property Division, Restraining Order, Spousal Support

What Makes a CA Certified Family Law Specialist Different?

Family law matters are often intensely personal and highly emotional. Dealing with families and relationships is always complex and much is at stake for everyone involved. You want more than an attorney when family law issues arise – you want a specialist. California Family Law Attorney Judy L. Burger is a Certified Family Law Specialist who is able to handle complex personal cases through court petitions, negotiation, and litigation.

What makes a CA Certified Family Law Specialist different from run-of-the-mill family law and divorce lawyers?

A High Level of Specialization

Obtaining a law degree and passing the California State Bar exam to practice law is only the beginning. Certified specialists in any area of law must pass a rigorous set or requirements to demonstrate their exceptional knowledge, experience, and proficiency. Only after completing this extensive process does the state bar award the attorney a specialist certificate.

To become a Certified Family Law Specialist in CA, attorneys must satisfy the following prerequisites: 

  1. Pass a written examination
  2. Continuously practice law in their specialty area for at least five years
  3. Complete continuing education in their specialty area
  4. Receive favorable evaluations by other attorneys and judges
  5. Demonstrate experience in a variety of family law matters, including divorce, child custody, child and spousal support, domestic violence restraining orders, property division, and more.

Becoming a certified family law specialist takes time, experience, and extensive knowledge.

Superior Experience in Family Law Cases

Certified Family Law Specialists must continue to demonstrate their expertise by handling complex family law cases to further broaden their knowledge and experience. Recertification every five years requires more continuing education while putting this extensive knowledge into action helping California families.

A CFLS will have considerable experience with:

  • Messy divorces
  • Complex business valuations
  • Sophisticated property divisions
  • Tense negotiations
  • Filing petitions with the court
  • Advising clients
  • Litigating difficult child custody and support cases
  • Ex parte hearings
  • Domestic violence
  • More…

Seasoned representation by a Certified Family Law Specialist like Judy Burger means the putting encyclopedic knowledge, extensive education, years of real-world experience, and measured expertise in your corner. She is vastly more qualified to help you get the results you need and want than other non-certified family law attorneys.

Why Should I Choose a Certified Family Law Specialist Instead of a Family Law Attorney?

Family law matters can be rough on you mentally and emotionally. The possible complexities and problems are legion and specific to every case. However, a CFLS has likely encountered similar cases before and has experience helping families find solutions. If you anticipate a difficult road ahead in your divorce, child custody, support, or related matters, choose a CFLS like Judy L. Burger.

Here are some examples of cases where we recommend a Certified Family Law Specialist:

  • Both parties have agreed to a divorce, but that’s all you agree on.
  • You have differences of opinion about matters like college debt, large real estate holdings, retirement funds, and other asset divisions.
  • You have small children still at home and cannot agree on a custody and support arrangement.
  • Both parties grew up in different cultures, so family rights and extended family concerns are involved.
  • Both parties jointly own a business.
  • One or both divorcing parties are active duty military.
  • You or your child’s safety is threatened.
  • You or your child are victims of abuse.

CFLS Judy Burger has trained for just these and many other situations so she knows how to help you. In fact, she’s been there with other families before. She can guide you through negotiations, difficult conversations, far-reaching decisions, and even embattled litigation with compassion and fortitude.

When you need stable counsel and steady legal representation through one of the most difficult times of your life, you need the services of a Certified Family Law Specialist. Contact The Law Offices of Judy L. Burger as soon as possible to discuss your case and next steps. We have offices throughout California for your convenience.

Exploring Business Valuations in a Property Division
Property Division

Exploring Business Valuations in a Property Division

One of the most contentious issues in divorce proceedings is dividing property and assets. This can be especially challenging when a couple owns a business together. In such cases, business valuations are an integral part of the property division process. CA Certified Family Law Specialist Judy L. Burger understands the intricacies of business valuations in a property division.

She has numerous long-term working relationships with area Forensic Accountants and Actuaries, Ligation Real Estate Appraisers, Real Estate Attorneys, Business and Corporate Attorneys, Title Companies, and Real Estate Professionals who assist her when business valuations are needed for a divorce case.

Let’s explore this topic a bit further.

What Are Business Valuations?

Business valuations are the process of determining the economic value of a business or company. It is a complex process that involves analyzing the financial records of the company, its assets, liabilities, market competition, and other relevant factors. The value of a business includes various factors, including, but not limited to the following:

  • Profitability
  • Growth potential
  • Future earnings prospects
  • Market competition
  • Industry trends
  • Capital structure
  • Market value of assets
  • Company management

A jointly-owned business is considered to be an asset in divorce cases and is subject to division between the divorcing spouses. This can often be challenging because each spouse may have differing options about the value of the business, and some of these may be difficult to quantify objectively. As a result, disputes and conflicts are common.

Attorney Judy Burger works with respected professionals who are experienced business valuation experts to help overcome these challenges. They partner together to thoroughly analyze the financial records, assess assets and liabilities, and consider other relevant factors that impact the company’s value.

Methods of Business Valuations

Selecting the correct valuation method is one of the most critical factors in business valuations. Several valuation methods are available. Choosing the best method depends on the type of business, its size, and other relevant factors. Judy Burger and her team of experts choose the most appropriate method for valuing the business.

There are over a dozen different business valuation methods, but these are the most common:

Asset-based Approach

Also called the book value method, this valuation method is based on the value of the company’s assets, including its tangible and intangible assets. The expert will consider the value of the company’s assets, such as its inventory, property, and equipment, and subtract its liabilities to arrive at the net asset value of the business.

Income-based Approach

This valuation method is based on the income generated by the business. The expert will assess the company’s historical and projected earnings and apply an appropriate capitalization rate or discount rate to arrive at the present value of the business.

Market-based Approach

This valuation method is based on the market value of similar businesses. The expert will analyze the sales of comparable businesses and arrive at a fair market value for the business being valued.

Times Revenue Method

The times revenue valuation method uses a multiplier dependent on the industry and economic environment of the business. It is applied to a stream of revenues generated over a certain period of time.

Get Help with Business Valuations and Property Division in a CA Divorce

Establishing the correct value of a business in a divorce case can be a challenging process, so it requires skills and expertise. Certified Family Law Specialist Judy Burger works with experienced valuation experts to ensure a fair and accurate valuation of your business. She is tenacious regarding fairness and preserving your rights throughout the divorce and property division journey.

Contact The Law Offices of Judy L. Burger for more information and to schedule a consultation.

Your Top 10 FAQs Answered About Family Law in California
California Divorce, Child Custody, Child Support, Domestic Violence, Property Division

Your Top 10 FAQs Answered About Family Law in California

Family law deals with issues like divorce, child custody, child support, alimony, and property division. If you are going through a family law issue in California, you likely have many questions about the process and your rights. Certified Family Law Specialist Judy L. Burger answers the top ten questions we’re asked at our California practice about Family Law matters.

Of course, we can only provide the barest facts in an article. More complete explanations and answers to other questions are available in a complimentary consultation. Contact The Law Offices of Judy L. Burger to schedule your consultation.

Top 10 Family Law FAQs

Review these common questions clients routinely ask Attorney Judy Burger during initial consultations at her offices.

1. What is the process for getting a divorce in California?

To get a divorce in California, you must file a petition for dissolution of marriage with the court. You will need to serve your spouse with the petition and wait for their response. If you and your spouse cannot reach an agreement on all issues, such as child custody and property division, the court will schedule a trial to decide these issues for you.

2. How is child custody determined in California?

California courts determine child custody based on the best interests of the child. The court will consider factors such as the child’s age, health, and relationship with each parent. Generally, the court prefers frequent and continuous contact with both parents as long as it is in the child’s best interests.

3. How is child support determined in California?

California law provides guidelines for determining child support. The guidelines take into account the net disposable income of each parent and the amount of time each parent spends with the child. Other factors, such as the child’s needs and the standard of living before the divorce, may also be considered.

4. What is spousal support in California?

Spousal support, also known as alimony, is financial support paid from one spouse to the other after a divorce. Spousal support can be temporary or permanent, depending on the circumstances of the case.

5. How is spousal support determined in California?

California law requires the court to consider various factors when determining spousal support, including the length of the marriage, the standard of living before the divorce, and the age and health of each spouse. The court has discretion in determining the amount and duration of spousal support.

6. How is property divided in a California divorce?

California is a community property state, which means that property acquired during the marriage is generally divided equally between the spouses. However, there are exceptions to this rule, and the court may consider factors such as the length of the marriage and the economic circumstances of each spouse.

7. Can I get a restraining order in a family law case?

Yes, if you are a victim of domestic violence or harassment, you can obtain a restraining order to protect yourself and your children. The court may issue a temporary restraining order, followed by a hearing to determine whether a permanent restraining order is necessary.

8. Can I modify a child custody or support order?

Yes, if there has been a significant change in circumstances, such as a job loss or relocation, you can petition the court to modify a child custody or support order. The court will consider the child’s best interests when deciding.

9. What is mediation in a family law case?

Mediation is a process in which a neutral third party helps the parties in a family law case reach a mutually acceptable agreement. It can be voluntary or court-ordered and can be a cost-effective alternative to litigation.

10. Do I need a lawyer for a family law case in California?

While you are not required to have a lawyer for a family law case in California, it is highly recommended. Family law cases can be complex and emotional, and having a knowledgeable and experienced lawyer can help protect your rights and interests.

Seasoned Family Law Representation in California

Family law issues in California can be challenging and emotional, but understanding your rights and the legal process can help alleviate some of the stress. If you have questions about a family law issue in California, contact The Law Offices of Judy L. Burger, with eight offices across the state to serve you.