Child Custody and visitation law firm in Los Angeles Brot and Gross1

California Community Property

California Community Property  Division Attorneys

Initially a California court must make a determination as to whether an asset is community property or separate property. There are occasions where an asset can be community property but there is a separate property financial interest of one party. Likewise, there are occasions where an asset can be separate property, but there is a community property financial interest of the parties.

Generally, assets and obligations acquired during the course of the marriage, except those received by inheritance or gift, are community property and are to be equally divided between the parties unless the parties agree to a different division.

Under California law, courts are obligated to value and divide even community assets which are intangible. For example, the “goodwill’of a business is an intangible asset, which to the extent that it is a community asset, must be valued and divided by the court.

The attorneys of Brot and Gross have extensive experience in valuing all assets including intangible assets such as “goodwill”. As a result of their experience, the attorneys of Brot and Gross have often been asked to lead seminars for attorneys, accountants, and other groups to educate them in the process of valuing all assets including businesses and “goodwill”.

To schedule a consultation, contact the offices of Brot and Gross, LLP. (818-594-0800)