Many people from all walks of life, but particularly those who earn a lot of income or have high net worth, may have their wealth tied up in assets that are difficult to put a precise value on. We've already discussed the difficulties of putting a value on a privately-held business, for instance.
However, there are other types of assets that, while worth a lot, just are not as easy to get a price tag on as, say, a car, a 401(k) or even a typical piece of residential real estate. For instance, many people may hold an interest in valuable collections, furniture or artwork, all examples of assets that cannot be evaluated without some skill and expertise.
Likewise, people may have an interest in stock options, which, as the name implies, are a right to purchase stock for a certain price or in a given price range. Particularly because Californians are known for their creativity, someone may also need to figure out the value of patents, copyrights or other intellectual property they own. In some cases, people may even need to put a value on their right to market their own image.
Valuing property is particularly important when a couple in Beverly Hills or the greater Los Angeles area gets divorced or legally separated. The reason is that the value of a couple's property will ultimately dictate marital property division under California's laws.
Our law office understands the importance of accurately valuing these assets, even though doing so can be a challenging task. We have the skills and experience, as well as a network of other key professionals, and will work hard to get this important task accomplished efficiently and effectively for our clients.