Divide Assets With An Eye To The Future
Preparing to separate property as well as daily life can be an emotional, as well as strategically difficult, part of divorce. Yet every divorce requires that assets be relegated to one spouse or the other at the conclusion of the divorce. Rarely, some spouses agree to retain joint ownership of businesses or other assets as non-family members, but this is not the norm.
As you get ready for this challenge, a level-headed, experienced divorce lawyer can be a great source of reassurance and insight. Initial steps toward the goal of dividing property between spouses typically include:
- Determining which assets are marital property and which are separate property belonging solely to one spouse or the other
- Reviewing any existing prenuptial agreement, to determine whether it is enforceable and how its terms may affect property division
- Inventorying and placing a value on all assets of both spouses
- Uncovering any hidden or hard-to-find assets, including collectibles and overseas bank accounts
As an accomplished, knowledgeable divorce attorney, Dale R. Bruder is well-suited to handle your property division case with a eye on your future financial security. He can advise you on divorce court judges’ views on the division of retirement accounts, executive benefits and business assets.
For Best Results, Participate Actively In The Process
It is usually best for divorcing couples to agree on how they will divide assets. Couples who wish to save on legal fees can, in fact, limit costs by doing much of the legwork themselves and deciding not to waste time and aggravation arguing over pots and pans or other noncritical possessions. Unfortunately, however, many find it difficult to stay calm and businesslike when considering how to divide assets when a marriage is ending in disappointment.
You and your soon-to-be ex-wife or ex-husband may decide on how to split up your property through settlement negotiations or mediation. If your divorce is contested because of disagreements, you may need to take your divorce to trial. However, most couples wisely try to avoid going that route. Attorney Dale R. Bruder has helped many people navigate these troubled waters with their financial security intact.
Save time and aggravation by taking your divorce lawyer’s advice on ways to streamline the process while protecting your property rights.
During the initial phases, each spouse must understand the importance of full disclosure of assets. Asking a brother or friend to hold onto a boat as a pseudo-gift can backfire and result in “contempt of court” charges when you do not rightfully acknowledge it is part of your portfolio of assets.
If your wife or husband had dissipated assets through gambling, drug abuse or an extramarital affair, this information should be relevant to determining a fair final settlement.
Get Answers And Advice Without Delay
For personalized counsel as you approach or proceed through asset division negotiations or mediation, contact The Law Offices of Dale R. Bruder by phone at 559-733-3727 or with our online intake form.