Monthly Archives: April 2014

The Division of Assets

Family law attorney Brad Crider might be best known for his knack and ability to handle the complex division of assets and debts in divorce proceedings. He is not only a numbers whiz, but his undergrad study in business administration lends itself well to this often complicated task. This makes him a strong ally if you’re involved in a divorce where real estate holdings, businesses and investments are among the assets to divide.

The division of assets in a divorce proceeding can either be extremely simple or extremely complicated. There are essentially three basic steps involved:

  1. Identifying all property and debts
  2. Separating property and debts into either community property or separate property
  3. Valuation of community property and debts

Separate or sole assets and debts are those acquired before the marriage whereas community assets and debts are those acquired during the marriage. These assets might also include inheritances and gifts. Both separate and community assets and debts must be clearly identified and valued in order to determine how to split them up fairly during the divorce.

Even though it may seem like a simple process, it can become quite complicated. For example, in some cases, a piece of property can actually be determined to be partially community and partially separate. An experienced attorney who has been involved in complex division of assets and debts before will play an important role in swaying the court as the division of the assets are determined.

Contact Crider Law to set up your initial consultation today. Let Brad discuss your case with you and give you a basic plan in moving forward. The last thing you’ll want to do is go into a complex and complicated division of assets on your own. Attorneys are well informed on the legalities and strategies used to reach the most optimal outcome.

Relocation and Child Custody

Child custody issues often occur when a divorced parent decides to relocate to another city out of state or, in some cases, within the same state, but more than 100 miles away. Relocation frequently happens when a parent has decided to take a new job or wants to live closer to family. When this decision is made, there is typically a custody hearing involved to determine what is fair for both parents.

Most divorces that involve children give both parents certain visitation or custody rights. According to Arizona law, both parents are entitled to reasonable parenting time in most cases. This ensures that children have frequent and continuing contact with the parents. Relocation by one of the parents disrupts this contact. The moving parent must be able to show that the move is in the best interests of the child.

Arizona law requires that the court hearing the custody matter consider the following:

  • The relationship of the child with the parents,
  • The wishes of the child as to the custodian depending upon age and maturity,
  • The interaction and relationship between the child and the child’s parent or parent’s the child’s siblings and any other person who may significantly affect the child’s best interest.
  • The child’s adjustment to home, school and community,
  • The mental and physical health of all individuals involved,
  • Which parent is more likely to allow the child frequent and meaningful continuing contact with the other parent,
  • Whether one parent, both parents or neither parent has provided primary care for the child,
  • The nature and extent of coercion or duress used by a parent in obtaining an agreement re custody,
  • Whether a parent has complied with chapter 3, article 5 of this title.
  • Whether either parent was convicted of an act of false reporting of child abuse or neglect

When the divorce decree states that both parents are entitled to custody or parenting time, the parent who is moving must provide a 60-day written notice to the other parent unless a provision for relocation exists in the parenting plan or court order at the time of the divorce. The non-moving parent then has 30 days to request a hearing to prevent the relocation.

It’s a very good idea to consult with a family law attorney if you are either looking to relocate or your child’s other parent is planning to relocate. Motions and notices must be submitted correctly and in a timely fashion. Relocating with your child without providing the right notice will hurt you. The courts do not take this lightly and will move swiftly to make changes in your custody rights. Please give us a call to discuss your plans. On the other hand, if your child’s parent is planning to relocate with your child, contact us right away so we can file a motion to prevent the relocation.

An experienced family law attorney such as Brad Crider of Crider Law will take the time to review the facts surrounding your case and help you see a fair outcome.

Understanding Business Valuation in a Divorce

One of the most complicated and difficult issues in divorce proceedings involves the valuation and distribution of marital property. When there is a business involved or tied to the marriage, it can make the process even more involved and expensive. In many cases, the interest in the business is the most valuable asset of the marital estate.

It then becomes important to involve an experienced business valuation attorney who understands the process and the law to help sort through this process. There are different approaches to value a business, and often, valuation conclusions come back different from each other. The attorneys involved have the responsibility to argue for their clients and persuade the court in order to reach a fair division of the business.

Tangible and Intangible Assets

When determining the value of the business, its assets are typically broken down into tangible and intangible assets. Tangible assets include cash, inventory, equipment and accounts receivables. These are typically the physical assets. Non-physical assets such as trademarks, patents, copyrights, and contracts that grant rights and privileges are considered intangible assets.

Once they are sorted out, experts will attribute value to each of these assets based on specific standards and methods. There are some difference in the recognized valuation methods, which means that many times the value for assets will come back different from each other. Most often, the date of valuation is a key factor in the differences of value. Very rarely do two business valuation experts arrive at the exact same conclusion.

Determining an Outcome

In a divorce proceeding, both parties will typically engage his or her own business valuation expert who will present their opinion in a formal report. The experts will also testify in court or mediation. During their testimonies, the experts will explain how they arrived at their determination, including analysis and outside opinions. The judge is then left to decide which value to accept.

This is why it’s crucial to have the right attorney representing you. Your attorney will be able to make strong arguments for your case while calling into question the information provided by the other party involved. Having an attorney with a business or finance background can be very beneficial.

Family law attorney Brad Crider has extensive experience in business valuation in divorce proceedings. His bachelor’s degree in business administration has helped him lead his clients to successful outcomes in many divorce cases involving a business. Put his experience and aggressiveness to work for you. Give Crider Law a call today to set up an initial consultation.