If you or your spouse own a professional practice, substantial real estate or a small business, precise business valuation is critical to the equitable
distribution of your marital assets.
We have over 20 years of combined experience helping our clients obtain or retain their fair
share of the marital assets during a divorce.
Experts may be retained by the parties or by the courts to determine the
value of marital assets if the parties can not agree.
The budget, used in conjunction with a detailed
inventory of marital assets, will allow for a plan to reduce debt, and control it going forward.
If you're not absolutely sure of the
extent of your marital assets and debts, you can begin your divorce as a contested matter and request discovery from your spouse.
A cheating spouse may also transfer assets to other family members or business partners to hide the
amount of marital assets.
Next, our in - house investigators and third - party asset investigators will conduct an independent
assessment of your marital assets and the location of these assets.
It is important that your lawyer understands when to hire an expert to document the value of an asset, future income stream and the
location of all marital assets.
A recurring issue in divorce litigation is the
treatment of marital assets that generate income, such as pensions, rental real estate and businesses.
However, some couples end up spending thousands of dollars in legal fees arguing over how to split the limited
pot of marital assets.
The division
of the marital assets acquired during a marriage, including marital debts according to what the court feels is fair under the circumstances.
One of the four topics we cover in mediation is that of equitable distribution or as its formally known: the equitable
distribution of marital assets and liabilities.
The
value of a marital asset may be reduced by the amount of the owner's real or hypothetical income tax liability or selling expenses.
The present value pension calculator is particularly useful for divorcing couples who need a present value appraisal of a pension for
division of marital assets.
However, a common exception exists for cases that involve a spouse's
dissipation of marital assets in the pursuit of an affair, especially if the behavior is egregious.
An experienced CDFA like Patricia will focus on helping spouses secure an equitable division
of the marital assets in a divorce.
Whether or not an inheritance is considered
part of the marital assets depends on a few different factors, including whether the inheritance was left to one or both spouses and whether the inheriting spouse kept the inheritance separate or commingled it with other marital assets.
A Rockingham County judge last month refused to order an expected 50 - 50
split of marital assets because of the «egregious adultery» of the husband that undermined the couple's poultry business.
For example, if one spouse conducts an extramarital affair and spends marital money on that affair, the court may consider that
waste of marital assets when dividing the remaining marital property.
As I've discussed before, the
allocations of marital assets much not be unconscionable, and the district court is required to make that determination prior to entering the decree of dissolution of marriage.
Providing an accurate
accounting of marital assets does not mean that you will lose personal assets... only that they will be considered along with everything else that may be valued as part of a property division.
the financial condition of the parties, including whether there has been unreasonable depletion of marital assets
The Superior Court affirmed the trial court's refusal to modify child support when the payor received proceeds from the
sale of marital assets after the divorce and division of property.
Wife received lump sum payment of alimony in addition to fifty percent
of the marital assets after aggressive negotiations of a Marital Settlement Agreement...
For example, if one spouse buys a home or car for the extramarital partner, or takes expensive trips, the court will total the amount spent and reduce the other spouse's share
of marital assets by that amount.
It is important to understand and utilize accepted valuation techniques in assessing the value and tax ramifications
of each marital asset so that the marital property may be divided in a manner advantageous to the client.
Inherited or gifted items also fall into a grey area for straightforward allocation of net worth but can be used for the purposes of distribution or «buying out» when one party wants something otherwise not attainable through the
dividing of marital assets.
For its part, the divorce has left the North poor and bitter, having lost a good
chunk of the marital assets in the separation, namely the oil fields just south of the border and more than a third of its revenue.
Butler v. Butler, 541 Pa. 364, 663 A. 2d 148, 156 (1995)(professional goodwill); Diament v. Diament, 816 A. 2d 256, 277 (Pa.Super.2003)(
advance of marital assets); Miller v. Miller, 783 A. 2d 832 (Pa.Super.
While the two were married, both made substantial contributions to the
acquisition of marital assets, though husband's contributions were more financial while wife's were more non-economic.