Legal Question in Family Law in California

Is the Lawyer's Law Firm Capital Account Community Property?

We're in a community property

state; married 21 years since right

after college; 2 kids under 18. I was

home-maker almost the entire time.

STBX is a law firm partner with a

capital account worth a net of about

$100,000. He is claiming that the

capital account is worthless and not

part of the marital estate anyway.

I understand that goodwill is hard

to estimate for lawyers but the

capital account has to be paid back

when you leave the law firm- so how

can it not be an asset ?

STBX is arguing over this and

holding up the settlement by

refusing to sign any statement of

assets or offer a settlement for 6

months.

Is STBX correct about the capital

account ? Do I deserve half of it ?

Thanks so much.


Asked on 4/21/07, 10:54 am

1 Answer from Attorneys
Lyle Johnson Bedi and Johnson Attorneys at Law

Re: Is the Lawyer's Law Firm Capital Account Community Property?

I am confused about the Capital Account. You said it had to be paid back when he left. If he has to pay it back then it is a debt. However, if he will be paid the $100,000 by the law firm when he leaves it would be an asset. You should be able to get a copy of the agreement with the law firm partnership. Then you could have it examined by an expert witness. The expert witness could testify as to whether it is a debt or an asset. Keep a record of his refusal to cooperate and then ask the court to order his to reimburse your expert witness costs.

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Answered on 4/30/07, 9:19 pm


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