Reaching A Fair Property Settlement
There is much more to property division than deciding “who gets what.” Property can include financial assets such as retirement accounts, stocks, pensions, cyber companies as well as brick-and-mortar assets such as a store, restaurant or other business. When dividing assets liquidity, taxes — including liabilities such as potential capital gains taxes — and credit ratings must also be considered.
Working with a qualified and experienced family law attorney can ensure a fair and equitable property division. At Taylor Law Firm, PLLC, we work to ensure that in a divorce there are no hidden assets, overlooked insurance policies or unidentified liabilities. Our attorneys advocate for a full and accurate assessment of the marital property and business is made. This includes current investments as well as retirement assets.
Division And Valuation Of Businesses
During a divorce, property is classified as either marital or separate. A business acquired before the marriage can be classified as separate, while one started or purchased during the marriage with joint funds is considered marital property. However, the value of a business can change over time. Funds that were used early on in the business can be worth much more as the business appreciates.
A business valuation typically involves assessing the businesses assets and liabilities, appreciation and fair market value. This is not something an untrained person or even an inexperienced attorney should attempt. Determining the value of a business, whether marital or separate, is a complex issue that requires the experience and acumen of an experienced attorney.
Over 50 Years Of Complex Divorce Experience
At the Taylor Law Firm, PLLC, our family law attorneys have the knowledge, resources and experience required to effectively pursue a fair division of assets and property settlement. From helping you locate and accurately assess the assets, liabilities and property value to moving on and planning and building a better life for you and your kids.