Divorce & dissolution of marriage
It’s not uncommon for two people involved in a dissolution to argue over how their personal property is going to be divided up. Many times, the judge must determine exactly who will get what for an equitable solution. Marital property includes everything that the two persons acquired during their marriage. It may include a home, a vacation home, appliances, furnishings, art decor, cars, planes, motorcycles, boats, other real estate property and other forms of transportation.
The property also includes bank accounts that are jointly owned, including pensions, investment accounts, and jointly owned businesses. Assets that were acquired prior to the relationship are called non-marital assets and this may be up for debate as to who will receive it under specific circumstances. If you’re in the midst of a dissolution, you’ll want to have an attorney that is familiar with such division of property to ensure that you’re getting everything that is due for you. Our attorneys can help to guide you through this process so that you can be properly represented during a divorce.
What is the cost of a dissolution of marriage?
All of the property that was acquired in the marriage must have a value placed on it. This will all be divided accordingly. If a couple is a celebrity, there will be a specific value on their name for example. A spouse with a professional degree may have a value placed on their degree if the other spouse helped to put them through school and achieve their degree. This would make it an indirect contribution or a direct contribution and thus, tangible property.
Dissolution of marriage: How will I know If my soon to be ex is forthcoming in regards to their assets?
Finding the value of assets is very challenging during a dissolution process. If one spouse isn’t forthcoming it can be even more complicated. This is when an experienced attorney will use a “discovery process” to find and locate any and all assets as set forth in the letter of the law. Even if a soon to be ex isn’t forthcoming regarding income or assets, attorney’s can readily use comparison regarding their debts, their assets, lifestyle and their accounts to show why there is the suspicion that they are hiding something.
This may include financial reports, a tax return, bank statements, investment statements, real estate records as well as loan applications and any other financial details that may be dug up during the discovery process. Each spouse may be required to have a deposition by the other spouse’s attorney. Spouses must, under oath, tell the truth regarding their assets and their income. If there aren’t enough details, then business associates, employers and anyone that is subpoenaed may be a material witness in the dissolution of the marriage and be required, again, under oath, to disclose what they know regarding the person’s financial records and real estate records. Attorney’s are very adept at utilizing any means legal to find this information.
- Division of Assets
- Child Support
- Child Custody & Timesharing
- Financial Affidavit
- High-Net-Worth Divorces
- Domestic Violence