Asset Division – Why 50/50 Isn’t Always the Rule
When entering into a marriage agreement, you are going from “sole status” to a community entity. With the formation of this new entity, assets are generally treated as equally belonging to all members of this community. This is where it becomes more important to know and apply the law correctly if there are significant assets to divide.
Some Common Exceptions to 50/50 Division – Assets and Debts
- A well crafted prenuptial agreement that was executed properly can change the division of assets as it was part of the agreement in the formation of the community state.
- Assets that are solely owned by one party and that asset has remained divided while in the marital union.
- When it can be proven one party was purposely running up expenses due to the upcoming divorce proceedings
We Help You Deal With Both Tangible and Intangible Assets
Maybe you have spent years working on a business together, and there are assets like trademarks or copyrights which have a value, but it can be complex determining the value of the asset. This is a case of an intangible asset that needs consideration. Tangible assets like bank accounts, houses, cars are generally much easier to place a value on. Of course, there can be a give and take in this process. Maybe one party has a stronger desire for the family home and the other party has a stronger desire to maintain the business. This is where it is important to ensure you are getting a fair value in your negotiations. We work with you to help you realize the priorities you have for yourself. We don’t tell you what you should want, we help you get what you are after as peaceably and efficiently as possible. Of course, there are cases where both parties want an indivisible asset, and in those cases, it is possible neither get it or get it in the manner they were hoping for.
High Net Worth Cases Require Much More Due Diligence
Where there are business interests and real estate holdings, then taking the time to really look at the books and see what the entities are worth is critically important. For a couple who has 3 businesses, 8 properties, IRA’s, Stocks, Savings, and other assets, it becomes a higher stakes situation. The problem most couples face is they want to get their face share, but grinding through all the details and finding a win/win for both parties can be enormously challenging. We always work from the standpoint of find common ground first, and then fight for clients (including going to trial when necessary), to ensure we are getting you the best outcome possible.
We Are Experienced in High Net Worth Divorce Cases
- Analyzing financial documents and the common loopholes people use to shelter profits
- Execution of existing prenuptial agreements or analysis of existing agreements legality
- Enforced liquidation of assets when required
If you are looking to find a trusted resource in the Las Vegas area who have handled hundreds of complicated divorce cases, we are here for you. We know this time is difficult and we want you to know we are ready to fight for you to ensure the future you deserve.
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