Dividing Substantial Assets In A Divorce Can Raise Many Complex Financial Issues
There is a higher potential for conflict and a greater likelihood of a trial if you have a significant amount of assets and debts to divide in your divorce. In Indiana, if you and your spouse cannot agree on how your property will be divided in your divorce, the family court judge will look to an equitable distribution of your property. This means that their goal is to make the distribution a fair one, rather than dividing your assets and debts between you in an exact 50-50 split.
Working with an experienced lawyer can ease your apprehension about the process of dividing your marital property. At the Law Office of Cynthia P. Smith, we have over 25 years of experience litigating and mediating complex divorces. We can help you address issues that include:
- Business ownership — We have handled divorces involving businesses of all types, from private physician practices to major local retail businesses. The challenges vary depending on the type of business and how it is owned.
- Farm divorce — Complicated issues may arise in a farm divorce. First of all, there are issues of marital property versus nonmarital property, as the farm may have been inherited by one spouse. Then there are valuation issues. With the price of land soaring, the value of the land today may be substantially different than the value of the land two years ago. Farm equipment such as tractors can be worth hundreds of thousands of dollars or more, so it is important to see that it is valued properly.
- Retirement and investment accounts — You don’t want to lose out on your fair share of pensions, 401(k) and investment accounts. Making sure these accounts are divided properly requires proactive and knowledgeable advocacy.
- Financial infidelity — A spouse may have opened a separate account using marital property or hidden other assets from his or her marital partner.
- Dividing up debt — It isn’t only assets that have to be divided in a divorce. Division of property includes dividing your debt.
Do You Have A Prenuptial Agreement?
Your prenuptial agreement may include parameters about dividing your property in the event of divorce. It will be important to determine whether it is enforceable. Attorney Cynthia P. Smith can help you find out what effect it will have on your property division.
Get Help Pursuing Fair And Equitable Distribution Of Your Assets And Debts
To discuss your high-asset complex divorce confidentially, email or call the Law Office of Cynthia P. Smith in Lafayette at 765-588-3952. Attorney Smith understands that every divorce comes with unique angst and concern over complex financial matters. She has the knowledge and experience you need to protect your financial future.