Splitting Your Assets And Protecting Your Interests
New York Attorneys Who Thrive On The Details
A marriage isn’t just a personal relationship between two consenting adults; it’s also a financial one. In fact, a lot of the details surrounding marriage are quite businesslike. You must apply for a marriage license and have your marriage certificate duly recorded by government officials; your tax liabilities change as you make adjustments to account for a spouse and any children you might have; you jointly take on large financial responsibilities such as a mortgage; and you put away some of your income to provide for your retirement.
All of these factors make unwinding this relationship due to divorce a difficult and potentially financially devastating endeavor. There are many factors to consider, and a great deal of research needs to be done. You want to have this work conducted by experienced, well-respected family law attorneys who are dedicated and committed to putting their clients’ interests first and protecting their clients’ financial future — attorneys such as the ones at Peter Morris Law in New York.
A Commitment To Preserving Your Wealth
When it comes to the division of marital assets, a multitude of factors come into play. These factors are amplified for people whose wealth has allowed them to have a range of investments in business, real estate and other lucrative endeavors. Determining an equitable distribution of assets becomes more complicated as a result.
Marital asset property division takes multiple factors into account, including inherited property and non-monetary compensation. Assets must be appropriately valued, and any hidden assets must be uncovered. In addition, the tax implications of property division must be considered.
Additionally, many clients may have complicated and hard to value assets, including professional degrees or licenses, investments, interests in corporations, hedge funds or family businesses necessitating the counsel of attorneys comfortable dealing with such assets.