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Business divorce: Things to know re community property laws

It often takes years to bring a business dream to fruition. In fact, some California business owners say they actually began thinking of their plans in their youth, then spent years fine-tuning and crafting a more definite course of action. Finally, for those who can accomplish their goals, a day arrives when a business dream becomes an official company and (hopefully) starts turning a profit. Years later, after marriage, the birth of children and other life experiences, it can come as a tough blow to realize relationship problems have prompted a business divorce.

Why is the valuation date in your divorce case important?

When preparing for divorce proceedings in Manhattan Beach, there are a number of important dates that you will want to keep at the forefront of your mind. One of these is the valuation date of your marital assets. You may at first question why the exact day on which your marital assets are appraised and valued would be important, yet in many scenarios (particularly if you or your soon-to-be ex-spouse are small business owners), this information could potentially help you from suffering a significant financial loss. 

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