Dividing Complex Assets
When two people go through the already complex and emotional process of filing for divorce, they are often tasked with untangling and dividing their assets from one another. No matter how much time you and your partner spent married, your shared and individual assets may have become almost impossibly interwoven.
However, our experienced divorce attorneys at Sneider Kellman, PC, in Chestnut Hill, can help review your marital property and protect your assets and streamline the division process.
What Would Be Consider A Complex Asset?
Generally, shared bank accounts would not be considered a complex asset because the division of funds would be relatively straightforward. Complex assets require a more rigorous valuation process, and the division of these assets may have more flexibility.
Examples of a complex asset may include:
- Retirement plans or deferred compensation
- Business ownership
- Professional Practice
- Commercial investments, stock options
- Intellectual property
Determining the value of these assets should be performed by a experienced appraiser. If an asset is under- or over-valued, you could wind up with an unfair portion of the valuable asset you previously shared.
In Massachusetts, the standard for asset division is an equitable distribution of assets, not necessarily equal distribution. During asset division, the court will take into consideration factors like individual income, contributions to the asset in question and future financial needs, among others. At Sneider Kellman, PC, we want to protect your interests and work to ensure you receive a truly fair and equitable distribution of the marital assets.
Are There Hidden Assets Or Income Streams?
Our divorce attorneys can help you find the resources for a fair valuation. In some situations, where there are complex investments, ownership interests in a privately-held entities, professional practices or other sources of income that could be manipulated, we may employ other financial professionals, such as forensic accountants to examine books and balance sheets for irregularities that could suggest hidden income streams.
Accuracy Is Critical During Asset Division
Unlike some aspects of your divorce, like alimony or child support, the property settlement is generally not subject to modification. In most cases, it would be necessary to reopen the case and demonstrate, factually, that your spouse committed fraud with their financial disclosures. This can be a very difficult and expensive process.
This is why you want to be exhaustive in reviewing all possible sources of income to ensure they are all discovered prior to the final order in the case. Our lawyers have experience handling the property division with cases involving complex, sophisticated investments, assets and income streams, and we can help you protect your interests and your future.
Contact Our Firm
If you have questions about complex asset division or want to get started with the valuation of your assets, contact us today. Call our Chestnut Hill office at 617-278-1881 or complete our online contact form to schedule your initial consultation.