Why Proper Property Valuation is Important During Divorce
During a divorce, you will be required to divide your property. In California, you will be expected, in most cases, to divide your property 50-50.
Accurate ValuationsThat may seem simple to accomplish, but if you don't know how much your assets are worth, splitting them can become problematic. For that reason, it's a good idea to work with someone who can accurately value your property and assets.
Do We Need Just a Single Valuation of Our Property?Normally, each person involved in the divorce seeks their own property valuation. Those valuations are compared to one another to determine what valuation would be fairest. Some people add and divide the valuations to get an average, while others go with the lowest or highest valuations. Whatever you do, make it consistent.
If you and your spouse get along, you may agree to have a single expert estimate the of value your property. In that case, the values assigned will be used in your case.
Is It a Good Idea to Have Your Attorney Review the Valuation?Yes, because your attorney has seen similar work in the past and may catch unusual valuations if there are any. Additionally, they will be able to help you negotiate for the assets you want if you show them what your property is worth and how you'd like to split it.
Visit Our WebsiteOur website has more information on property valuation and why it's important to know what your property is worth before beginning negotiations during a divorce.