How Much Have Your Assets Appreciated During Your Marriage?
The separate property that spouses bring with them into a marriage may remain characterized as separate property in the event of a divorce, but any increased value of the assets may be reclassified as commingled or marital property, subject to equitable distribution under the law.
If you are a person of high net worth, it is important that your assets are properly characterized as separate or marital property. It is equally important to obtain a proper appraisal of property value in a divorce. Even when separate property has been protected by a prenuptial or post-nuptial agreement, the appreciated value may be subject to division.
Stange Law Firm, PC, offers knowledgeable, experienced representation for clients of high net worth who are seeking fair distribution of the appreciated value of their property. Most states are classified as equtiable distribution states, while some states are considered community property states. The key difference between equitable division and community property states lies in how marital property is divided during a divorce. In equitable division states, property is distributed in a manner that is fair but not necessarily equal. Courts consider various factors, such as each spouse’s income, contributions to the marriage, and future financial needs, to determine what constitutes a fair division. In contrast, community property states treat most property acquired during the marriage as jointly owned and divide it equally, with a 50/50 split being the standard. Exceptions may apply in cases involving prenuptial agreements or certain types of separate property. While both systems aim to achieve fairness, their approaches reflect different philosophies on marital property.
Dividing Sole Owner Property In Divorce
Whether or not a spouse should gain access to the asset requires in-depth investigation and knowledge of complex financial circumstances, including valuation of the business, investment accounts, and the value of a business. Our firm works with independent financial accountants and valuation experts to ensure the property is fully and accurately evaluated for appreciated net worth.
Stange Law Firm, PC, will discuss issues such as:
- Characterization of property as separate property, commingled or marital property
- Appreciated value of a business or professional practice over the length of the marriage
- Indirect contributions and efforts of the spouse to increase the value of the property
- Gaining access to the asset requires
Contact Our Multi-State Family Lawyers
For more information about how our lawyers can assist you with separate property in divorce, contact us online or by phone to schedule a confidential consultation at one of our convenient locations.
