Finances are often a major concern in a divorce and property division can be one of the most difficult aspects of the divorce process. What is included in marital property? How will it be divided? How will a home or a business be valued for purposes of property division? Your lawyer will help you navigate through this process.
If all assets could be liquidated, it would be a simple matter to divide them. However, when liquidation would destroy an asset, liquidation would not benefit either party in a divorce. Our law firm understands the complexities of property valuation and division. Some areas that demand an expert’s attention include:
Business assets: Dividing a family business in half would often mean the end of the business. It can be a challenge to establish the value of the business and then determine how to divide it. Can one spouse or partner buy out the other? Can business profits be shared fairly?
Stock portfolio: In dividing a stock portfolio, which stocks go to each spouse or partner? How can the stocks be equitably divided? Selling the stocks at the wrong time can mean losses that would harm both parties. Our family law attorneys will help you work out an agreement to divide the stocks in an equitable manner.
Real estate: If the market is down, selling real estate holdings for the sake of dividing assets would not benefit either party in a divorce. The family home may be important to maintain continuity for the children, or a commercial development property may not be ready for a sale. At our law firm, we help clients develop creative solutions to complex property division problems.
Pension benefits: In a long-term marriage or domestic partnership, both spouses or partners may have an interest in earned pension benefits that will not pay out for years to come. We can help with the paperwork to establish rights to a portion of pension benefits.
Whatever the nature and extent of your marital or partnership property, we can help you negotiate a settlement agreement that is fair and equitable for you and your spouse or partner. We can also help determine if there are hidden assets that should be a part of the settlement.