Tracing And Reimbursement
During a marriage, the separate assets of the parties can become commingled. Separate property may be transformed and become marital property. During the divorce process, it is important that separate and community property be properly identified and accounted for.
Thomas M. Polinger is an experienced divorce lawyer. He has extensive experience in all aspects of property division and related matters-in particular, property division matters involving complex financial arrangements or disputes. At the Law Offices of Thomas M. Polinger, we understand the complex issues of identifying, tracing and reimbursement of assets for the purposes of divorce. We can apply our knowledge and experience with the objective of achieving a full, complete, and fair reimbursement for separate property.
Tracing And Reimbursement Of Assets Can Be Difficult
California Family Code Section 2640 requires that the party who contributed separate property for the purchase of a community property asset has the right to be reimbursed for the amount of separate property contributed.
An Example — A man who owns a house is marrying for a second time, and agrees to transfer joint tenancy of the house to his new wife. Some years later, the wife uses an inheritance to make significant improvements to the dwelling. After 15 years, the couple decides to divorce. During this time, the value of the house has increased significantly.
This simple example illustrates some of the difficulties involved in the tracing and reimbursement of assets. When the assets are more complex, or if a spouse attempts to evade his or her fiduciary duty by hiding assets, the difficulties multiply.
An Experienced Attorney Is Essential
Thomas M. Polinger can provide legal guidance and representation in the complex issues involved in the tracing and reimbursement of assets during divorce. When needed, he can call upon the expertise of forensic accountants, investigators, appraisers, and valuation specialists to identify and value the separate and community components of an asset.
In this and other aspects of divorce, an experienced attorney is essential. At the Law Offices of Thomas M. Polinger, we will use our experience and knowledge to protect your rights and interests.