While divorce proceedings can be rather complicated even in cases involving a relatively short union and limited marital property, high-asset divorce cases demand even more attention and care. The attorneys at Family Law Group, are well-versed in the complexities of accurately identifying and evaluating separate and marital property in cases involving large amounts of different types of assets, and appreciate just how important it is to distribute assets fairly and equitably. After all, engaging in a thorough and effective property division can have a real and lasting impact on your financial security and growth.
Forbes discusses some of the major factors that can come into play in high-asset property division proceedings and explains that many cases involve complex portfolios developed by one or both divorcing parties. One of the most important things to keep in mind is that a huge number of personal sources of income and savings can be considered marital property in divorce proceedings. For instance, everything from your spouse’s 401(k) to his or her stock options to his or her business practice could be subject to equitable distribution as marital property. Likewise, any inheritance and/or personal injury judgment award that you received and then contributed to a joint bank account may be considered marital property as well.
Another major factor that can come into play in the valuation of marital property in your high-asset divorce case is the appreciation in the value of some property. If you can illustrate that you actively contributed to the growth of your spouse’s income or earning potential during the course of your marriage, the dollar value of your contributions could be considered marital property in many cases.
Of course, there are many other factors that can be considered when determining what qualifies as marital property in division proceedings. Learn more about asset valuation and distribution by visiting our web page today.