The division of assets and debt at the time of a divorce is both stressful and emotionally challenging. There are legally complex decisions involved that will have a direct impact on the future of your financial strength. Regardless of how long you’ve been married and no matter what your combined financial situation looks like, it’s important to consult an experienced divorce attorney when dividing assets and debts.
While some divorces involve a simple estate with modest assets, others are much more complex and include millions of dollars of real estate, bank accounts, stocks, stock options, trusts, inheritances, pensions and retirement plans. Working with an attorney is imperative during the complex division of assets and debts.
Crider Law has the knowledge to handle such divisions of assets and debts. Brad Crider has a proven track record of working with clients involved in a complex divorce to ensure they separate with a fair share of property and assets. His background in finance and business, including a bachelors degree in business administration, have played an important role as he works to determine the following:
Ownership of Assets
Determining ownership of assets at the time of divorce includes proving when the assets were acquired. Generally, most assets acquired during a marriage are considered marital assets unless it can be proved that they were acquired before marriage. This is also extremely important in cases where ownership of businesses is involved.
Ownership of Debt
In most cases, the parties involved in the divorce will share any debt incurred during the marriage equally. However, there may be instances where debt can be traced back to before the marriage took place. It’s important to have debt analyzed and properly assigned at the time of a divorce.
Splitting up and distributing property and assets during a divorce doesn’t typically result in taxable income to either party. It’s still a good idea to have a knowledgeable divorce attorney investigate the tax implications when income properties, stock options or other complex assets are being divided between the parties involved. It’s important to know how taxes will impact the value of an asset.
Crider Law will work diligently to ensure your complex assets and debts are divided in a fair manner while effectively protecting your best interests and rights. You can rely on our expertise and attention to detail for the best possible outcome.