The topic of property tracing in California divorce cases is complex.
At the Santa Clara family law office of Thomas E. Bouman, Attorney at Law, we want our clients to understand the basic principles of property tracing as we represent them in divorce negotiations or divorce trials. Leave the detailed financial analysis and mathematical calculations to us or our experts — but it is important for you to understand the principles behind the advice we give.
San Jose divorce negotiation attorney Thomas E. Bouman has practiced family law in and around Santa Clara since 1988 and has an accounting and business background that proves useful in every property division negotiation. If you have questions about property tracing and the division of marital property, contact our office to schedule a phone consultation.
Property Tracing: What Is Community Property and What Is Separate Property?
Property tracing is important in divorce negotiations concerning the division of marital property. This is so because California is what is known as a “community property state.” Briefly put, a California family court will divide assets and debts acquired during the marriage equally. Over the years, the courts have developed complicated formulas that lawyers and judges must follow to determine the proper division of certain kinds of property, but the basic rule remains the same.
Thus, the critically important question is: What is community property and what is separate property? This is where characterization of property and property tracing comes in. Property tracing is like forensic accounting or financial investigation to determine what percentage of which assets belong to the marriage as opposed to one spouse or the other.
When Is Property Tracing Important?
Property tracing is not just important with real estate, nor is it just important in so-called high-asset divorces. Property tracing also comes in to play with bank accounts and investment accounts, especially when these accounts were seeded originally with separate (non-marital) property.
Consult an Experienced Attorney for Answers to Questions About Property Tracing
As part of the services Mr. Bouman provides to every client of our office, we will make sure you understand the basic principles of property tracing and why it is important in your specific circumstances.
To schedule a free phone consultation to begin discussing your divorce-related questions, contact the law office of Thomas E. Bouman, Attorney at Law.