Areas of Practice
ACCURATE VALUATION IS ESSENTIAL IN DIVORCE PROCEEDINGS
A divorce, like many things in life, can be as difficult or as easy as the people involved decide to make it. In some cases, two people reach a civil decision, and while there is regret that the marriage didn’t work out, there is no hostility or lingering, long term feelings of acrimony for the other person. In other cases, divorce can be a traumatic experience that opens up new wounds and psychological issues, some of which can stay for life.
One of the areas where a lot of friction, dissension and arguments can potentially flare up is in the division of assets. Much of this rests on whether there were any pre-nuptial agreements in place or not, and, if so, what those agreements actually defined. However, even with a pre-nuptial agreement in place, when a divorce occurs, especially if the marriage has lasted for many years and there has been a lot of financial growth, there should always be a professional valuation.
Know The Score
For marriages in which there has been a lot of financial development-and this is especially true it that growth has occurred for both spouses-the division of assets can only be fairly and efficiently dispensed once all concerned parties know the exact nature and worth of assets that need to be divided. If there have been successful investments, business ventures, property acquisitions, or professional career developments that have considerably changed the economic landscape of the couple since the marriage began, there needs to be an accounting.
A divorce is going to change many things, not just the physical separation of a couple, but a division of their properties. It is absolutely essential that in order for both parties to have reasonable information to act on and negotiate-if negotiation is required-then an accurate assessment of business and other assets needs to take place.
An experienced divorce attorney is an important piece of this puzzle. During a complex legal process such a divorce, the worth of specific assets should not be left to guesses or estimates. An objective third party such as an attorney can fairly evaluate the worth of businesses, properties, professional practices and other assets. This is especially important for unique careers such as family business ventures or home-based businesses which may not be subject to the same kinds of business law as a conventional ventures.
If you find yourself in a position where the division of assets is a part of your divorce proceedings, contact a divorce attorney to protect both you and your spouse. Only by knowing exactly what is at stake can you move forward in a fair and informed manner.