Allocation and characterization of property and debts is an important part of the dissolution of marriage proceedings. All assets and debts must be characterized as community property or separate property, and there are overlaps between the two. For instance, even a home owned before marriage by one party which stays in the name of that spouse throughout marriage, may have a portion of its value characterized as community property.
When property changes from separate property to community property during marriage, important calculations determine what portion of its present value is to be attributed to separate and what portion to community.
In addition to characterization of property, valuation is also very important. Not only the value, but also the date of valuation, can affect the relative value to the respective spouses. Examples of assets subject to the requirement of characterization and valuation include businesses, pension plans, security portfolios, etc. Blonska & Kaufman is experienced in the handling of property issues, and works with qualified expert appraisers to maximize the benefit to its clients.
