The value of a marital estate, which constitutes all property acquired during a marriage, is essential in dividing assets in a divorce. The estate’s value is determined by gathering evidence. Valuation can often be seen as a tiered process, where the estate is valued by the least to the most credible evidence. An Orange County spousal support lawyercan assist you during the process.
A good example of this process is when divorcing couple is trying to value a home. The least credible evidence would be the parties giving opinions as to the house’s worth. More credible valuations would be determined by having a real estate agent value the home or having it appraised by a professional. An Orange County spousal support attorney will explain to you that the most credible value of the home is its price when it sells.
The Most Credible Evidence Is Best
Orange County spousal support lawyers will want clients to have the most credible evidence, because the better the evidence, the more likely the court hearing the case will accept the value provided. If the case is in mediation, the evidence doesn’t have to be the most credible, but it does have to be acceptable to both parties. If the parties agree to a value of their home, this would qualify as sufficient evidence. A more credible piece of evidence, such as a real estate agent’s opinion, would be required if the parties do not agree or neither has much knowledge of the property’s worth.
Call an Orange County Spousal Support Lawyer for Legal Advice
If you are pursuing a divorce and need help with your marital estate, call Orange County spousal support lawyer Bethanie Fanti at 714-505-3108.