Marital Property Divisions and Valuation
The community property accumulated by each spouse or partner during the marriage must be disclosed during the dissolution or separation proceeding. Each party has the fiduciary duty to disclose the extent of the community property to the other spouse or partner.
During a dissolution of marriage or domestic partnership, any business, real property, or personal property will be valued or appraised at the fair market value by the experts like real estate agents, CPAs, professional business appraisers, forensic accountants, or just a blue book valuation for purposes of reasonable division of parties’s properties.
In many instances, the client has to be able to retain and pay for the experts to appraise the properties for determination of fair share of their community property.