Category Archives: Property Division

Exploring Inheritances and Community Property Rules in a CA Divorce
California Divorce, Property Division

Exploring Inheritances and Community Property Rules in a CA Divorce

Navigating the complexities of community property and inheritances in a California divorce can be challenging. Understanding how these assets are treated under California law is crucial for anyone going through a divorce involving inheritances and community property.

Certified Family Law Specialist Judy L. Burger explains how community property rules affect inheritances in a California divorce.

Community Property

California is one of the few community property states in the United States. In community property states, most assets and debts acquired during the marriage are considered community property, belonging equally to both spouses, regardless of who acquired them.

Community property includes income earned during the marriage, real estate purchased during the marriage, other assets acquired, and debts incurred by either spouse during the marriage. In the event of a divorce, community property is typically divided equally between the spouses, although there can be exceptions based on specific circumstances.

Inheritances and Separate Property

Inheritances and gifts received by one spouse are considered separate property in California. This means that if one spouse receives an inheritance or gift during the marriage, it is generally not considered community property and belongs solely to the recipient.

However, commingling separate property with community property can complicate matters. For example, if an inheritance is deposited into a joint bank account or used to purchase a marital home, it could lose its status as separate property and become subject to division as community property.

Transmutation is the process by which separate property becomes marital or community property. This can occur when separate property is mixed with community property or when both spouses agree to treat certain separate property as community property. Transmutation can also happen through a written agreement signed by both spouses.

How Can You Protect An Inheritance?

It’s crucial to ensure that an inheritance remains distinct from marital assets to safeguard it from being considered communal property. This may require placing the inheritance in a separate account, refraining from mixing it with communal assets, and maintaining thorough records of the inheritance and its utilization. Another way to protect an inheritance given to one spouse is to place it into a trust.

Individuals can also consider signing a prenuptial or postnuptial agreement to safeguard inheritances from property division during a divorce. These legal agreements provide clear guidelines for property division and outline how inheritances will be handled in the event of a divorce. By defining the property statuses and the rights and responsibilities of each spouse, these agreements can protect inheritance rights.

The court may exercise its own discretion in cases involving fairness and equitable distribution. Even if an inheritance is considered separate property, the court has the power to modify the allocation of assets to ensure a just outcome. This may involve assigning a more significant share of other marital assets to the spouse who did not inherit to achieve a balanced division of property.

Seek Legal Guidance from an Experienced CA Property Division Attorney

Given the complexities of inheritances and community property rules in California, seeking guidance is advisable. Certified Family Law Specialist Judy L. Burger is experienced in handling complex divorce and property division cases. She can provide valuable insight into how to protect separate property, navigate the division of assets, and ensure that your rights are protected throughout the divorce process.

Understanding the treatment of inheritances and community property under California law is crucial for individuals going through a divorce. Get informed and seek legal counsel to protect your separate property. Contact The Law Offices of Judy L. Burger in California to get seasoned help navigating the complexities of divorce involving inheritances and community property.

 

How Are Trusts Handled in a Divorce Property Division?
California Divorce, Mediation, Property Division, Property Division

How Are Trusts Handled in a Divorce Property Division?

Divorces routinely involve property division questions. Some may be simple and straightforward, but determining marital and separate assets is often complicated. One common question is how trusts are handled in a divorce property division. Certified Family Law Specialist Judy L. Burger explains more about trusts and property divisions in California.

What Is a Trust?

“A trust is a legal entity with separate and distinct rights, similar to a person or corporation. In a trust, a party known as a trustor gives another party, the trustee, the right to hold title to and manage property or assets for the benefit of a third party, the beneficiary.”

A trust is a useful tool for managing and distributing a person’s finances both while they are alive and after their passing. It can help an estate avoid taxes and the probate process, protect assets from creditors and specify how inheritance should be handled for beneficiaries.

Married couples may establish one or more trusts for various reasons:

  • Tax planning
  • Medicaid planning
  • Retirement or inheritance planning
  • Providing for a special needs child or family member
  • Charitable giving
  • Securing business assets

Different types of trust have varying rules that govern how they are used, protected, and divided in a divorce property division.

Trusts and Property Division

Under California law, trusts are separate property of the named beneficiary spouse. Trust assets are then not considered “community property” and, therefore, are not subject to equitable distribution. Moreover, any income and principal paid from a separate property trust to a beneficiary spouse remains their separate property as long as it is not comingled with marital funds.

For example, a trust that is funded by a third party or source (not the beneficiary) through a gift or bequest and is governed by a separate trustee is the sole property of the beneficiary and not considered community property.

  • A trust created with assets before the marriage
  • A trust given to one spouse by a gift or inheritance

Irrevocable trusts are also better protected during a divorce property division. The beneficiary spouse is not in control of the assets, and they are not considered community property.

Depending on the type of trust, other special circumstances may apply. It is best to discuss your situation with a seasoned California Property Division Attorney like Judy Burger to ensure you fully understand your rights and options.

When Is a Trust Considered Community Property?

When trust funds are placed into a joint account, used to purchase a marital asset, or used for regular marital expenses, these funds are no longer considered separate property and become community property.

An exception exists if separate property contributions are used for a down payment on or for improvements to an asset; they will retain their separate property status as long as documents trace that contribution. Any funds remaining in the trust or a separate account will continue to be considered the separate property of the beneficiary spouse.

California Property Division Attorney

The rules governing California property divisions and trusts are complex, so you need an experienced CA Property Division Attorney to help you understand them and how they apply to you. Certified CA Family Law Specialist Judy Burger can examine the assets in trusts and determine how they fit into a divorce property division. Her role is critical to ensure an equitable legal division and protect your assets and rights.

If you are considering a divorce in California and have assets in a trust, contact The Law Office of Judy L. Burger as soon as possible. We have eight convenient offices throughout the Golden State to give you the personal attention you deserve. 

Is My Retirement at Risk in a CA Divorce Property Division?
California Divorce, Property Division

Is My Retirement at Risk in a CA Divorce Property Division?

People are living and enjoying the fruits of their labor longer than ever before. Planning and investing for retirement are some of the wisest decisions married couples can make. But what happens to your retirement assets in the event of a divorce? Handling retirement funds in a divorce is complex, and without the right help, you could make serious mistakes and lose most of your assets. CA Certified Family Law Specialist Judy L. Burger shares what you need to understand about retirement and a divorce property division.

Sharing Pensions and Retirement Plans

All kinds of pensions and retirement plans exist. They all share a common factor: a person and/or an employer pays into the account, which accumulates with interest over time to provide a living after retiring from active employment. Your spouse may also pay into the same pension or retirement plan, or have one of their own.

Some of the most common plans in California include:

  • Employee benefit plans
  • Defined Benefit Plans
  • Defined Contributions Plans
  • 401(k)s
  • CalPERS
  • LACERA
  • LACERS
  • CA State Teachers’ Retirement System
  • LA City Employees’ Retirement System
  • Federal Employees’ Retirement System
  • Military pensions
  • 457 plans
  • 403b plans
  • 401a plans

Retirement and Community Property

California is a community property state, meaning any assets or debts obtained from the date of marriage to the date of separation, except for gifts or inheritances to the individual, are considered to be community property and are divided equally between the parties in a divorce. 

This means that any retirement accounts that received marital funds are considered community property and are subject to the 50/50 asset division. Even if only one spouse contributed to the pension or retirement plan, depending on when the payments were made, both spouses may have a right to the money in the plan.

California law may allow interest earned on pre-marital contributions to be considered separate property and not subject to division with the other spouse. Therefore, you may be able to claim a retirement account opened before your marriage as separate property.

Protecting Your Rights and Assets

Dividing a pension or retirement plan between spouses in a divorce property division requires a special order called a Qualified Domestic Relations Order (QDRO) or a Domestic Relations Order (DRO). QDROs are utilized for private retirement plans, while DROs are used for state and federal public retirement plans. This legal order specifies how much each spouse receives. Unless there are separate agreements that apply, the funds qualify as community property and will be divided equally.

A QDRO/DRO takes time to prepare, file, receive a court signature, and be served on the retirement account holder. Before this order becomes binding, a spouse participating in the plan could withdraw some or all of the funds without notifying the other spouse. You may be able to contest this action, but that will take time and money.

Also, without a QDRO/DRO in place before the divorce is granted, someone else may inherit the retirement or pension assets in the event of a death because you are no longer the rightful heir.

Get Seasoned Help for Your Divorce Property Division

The Law Offices of Judy L. Burger helps Californians negotiate the rocks and shoals of divorce and its many details. Among the most complex is dividing marital property—especially pensions and retirement accounts. Judy Burger is a Certified Family Law Specialist with notable experience in property divisions who can help you ensure a fair and equitable distribution of assets in your divorce.

Don’t risk everything you’ve worked for – contact us right away for guidance and representation in your California divorce. We have eight locations throughout North, Central, and Southern California to serve you.

 

Can a California Restraining Order Keep Me Safe?
California Divorce, Child Custody, Domestic Violence, Legal Separation, Marriage, Mediation, Property Division, Restraining Order, Restraining Order, Termination of Parental Rights

Can a California Restraining Order Keep Me Safe?

A California restraining order “(also called a ‘protective order’) is a court order that can protect someone from being physically or sexually abused, threatened, stalked, or harassed.” But can a restraining order keep you safe? Certified Family Law Specialist Judy L. Burger explains the basic provisions of California restraining orders and how they work.

Types of Restraining Orders

Restraining orders in California can include prohibitions or guidelines for:

  1. Personal Conduct
  2. Distance Exclusions (Stay-Away Orders)
  3. Moving Out (Residence Exclusion Orders)

These orders come in various types:

The subject of the restraining order has restrictions that govern their:

  • Movements
  • Freedoms
  • Living arrangements
  • Custody and visitation rights
  • Immigration and naturalization status or privileges

Restraining orders are designed to keep parties separate and govern the actions of one party to minimize or eliminate the risk of harassment, intimidation, and violence.

When Should I File for a Restraining Order?

Many California residents struggle with the question of when it is appropriate or necessary to file for a restraining order with the court. They ask, “How far is too far?” or “How much should I endure?” before a restraining order is warranted. However, if you are asking that question, it may already be time to seek legal protections.

If you ask, “How far is too far?” or “How much should I endure?” before a restraining order is warranted, it is likely time to seek legal protection.

Contact The Law Offices of Judy L. Burger for assistance with obtaining a California restraining order or call the National Domestic Violence Hotline at 1-800-799-7233 for immediate help.

If the restrained person violates the restraining order, they may be subject to imprisonment, a fine, or both.

Be Proactive About Your Safety

A legal protection order is a strong defense, but it is only one aspect of protection. You should be proactive about your own safety and the safety of your child(ren). Family Law Attorney Judy Burger can discuss specific provisions with you, but we recommend taking the following actions:

  • Being aware of your surroundings at all times
  • Keeping doors and windows locked at all times
  • Avoiding places or areas where the risk of confrontation is high
  • Do not share your residence information, plans, or whereabouts on social media or with anyone
  • Create an emergency plan in case you need to leave your home or another location
  • Use a third party for any necessary communications with the restraining order subject
  • Immediately report all violations of the restraining order’s provisions

Certified CA Family Law Specialist Judy Burger can walk with you through the difficult circumstances that prompt filing for a domestic violence restraining order in California and help you keep yourself and your children safe. Contact one of our eight offices across the state for more information.

Get Help Filing for a Domestic Violence Restraining Order

The Law Offices of Judy L. Burger can help you file a petition to the court for various restraining orders. The petition outlines the details of the threats or abuse prompting the order request and includes dates, locations, and all relevant facts. We will also help you collect evidence like videos, images, social media posts, damaged property, physical evidence on your body, medical reports, witness statements, and more. Our team will also help you determine the type of restraining order you need and what you need it to do. 

Top 10 FAQs About California Military Divorce
California Divorce, Child Custody, Child Support, Property Division, Visitation

Top 10 FAQs About California Military Divorce

Serving in the armed forces can place an incredible strain on a marriage. In fact, the current divorce rate among military couples is around 4.8%, compared to about 2.5% in the general population. Military divorce is essentially the same as a civilian divorce, except some federal laws will apply. Certified Family Law Specialist Judy L. Burger shares the top ten frequently asked questions she often fields about California military divorce.

#1. Do I Need a Military Lawyer (JAG) for a Military Divorce?

While most military posts have legal assistance attorneys from the Judge Advocate General’s Corps available for advice, they do not handle divorces. You need a family law/divorce attorney in your state to handle your military divorce. To file for divorce in California, one of the spouses must be a California resident for at least six months and have lived in the filing county for at least three months.

#2. Will the Military Serve Divorce Papers to My Spouse?

The military services may help you locate your spouse, especially if they are on an overseas deployment, but they are not required to serve divorce papers for you. A California divorce lawyer can help you serve divorce papers.

#3. Can I Get a Default Judgement for a Military Divorce in California?

While default judgments in many civil law cases are permissible, the Servicemembers Civil Relief Act (SCRA) prevents this in military divorces. The court may permit up to a 90-day delay to allow active-duty service members to respond to a divorce petition.

#4. Does Child Custody Automatically Go to the Non-Military Spouse in a Military Divorce?

This is a popular misconception that is false. California courts do not discriminate against active-duty military parents when deciding child custody issues. The court will consider all relevant factors and decide according to the child’s best interests.

#5. Are Military Service Members Required to Pay Child Support?

A California family law court may order child support from either spouse, regardless of if they are military or not. However, a service member’s child support obligation cannot exceed 60% of their disposable income. Spousal and child support is taken seriously in the military, as is paying any debt. Service members who fail to meet their financial obligations may be subject to court martial or other disciplinary actions.

#6. How Is Property Divided in a Military Divorce?

California’s “community property” laws apply when dividing property in a military divorce. However, some federal provisions apply to benefits like military pensions. CA Family Law Attorney Judy Burger can explain more about military divorce property divisions in a confidential consultation.

#7. Can I Still Get Military Benefits After a Divorce?

Asset divisions in a military divorce are often governed by the “20/20/20 Rule.” In order to receive military benefits after divorcing a service member:

  • You must have been married for at least 20 years.
  • Your ex-spouse must have served in the military for at least 20 years.
  • Your 20 years of marriage must overlap with 20 years of your ex-spouse’s military service.

This only applies as long as you do not remarry. There are variations to this rule, so consult with a Military Divorce Lawyer like Judy Burger for the most up-to-date information.

#8. Will the Military Pay to Move a Spouse Back to the United States After a Divorce?

In the event of a divorce occurring overseas, the military may cover the moving expenses of the nonmilitary spouse. Typically, other moving expenses are subject to negotiation and are determined as part of the final divorce agreement.

#9: I’m Originally from Another State. Can I Get a Military Divorce in CA?

Yes. If you and your military spouse are stationed in California and you have established residency here for at least six months, you can file for a divorce in California.

#10. Where Do I Start a Military Divorce in California?

Contact The Law Offices of Judy L. Burger for more information about Military Divorce in California. We have eight offices throughout the state, and several are convenient to major military bases. Get the experienced help and guidance you need in a military divorce. Contact us today to schedule a confidential consultation near you.

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.

 

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