Assisting With Complex Asset Division in Minnesota
During a divorce, one of the most difficult parts of the process is trying to divide up the assets between the parties. These financial divisions can be extremely frustrating during a divorce in which there are complex types of assets. If you and your spouse own a business or are in possession of a retirement plan or pension, you could be facing a long and complex divorce process.Having an attorney who understands the complexities involved during a high net worth divorce is extremely important. In Minnesota, the law states that each party is entitled to a fair and equitable distribution of marital assets. Understanding what these assets are is a task that can take a strong familiarity with finances.
At Dwire Law Offices, P.A., we have the knowledge to see you through this complex divorce process. Contact us for a free initial consultation regarding your divorce.
What is considered complex marital property in a divorce?
Most divorce assets are easily divided between the spouses. However, in more complex divorce cases, some of the assets require a deeper look by the court before they are divided. These assets may include:
- Closely held business, such as a family business
- Assets that were originally gifted or inherited but have since commingled with marital assets
- Real estate developments
- Complex property that impacts tax outcomes
- Pension or retirement accounts, including 401(k) plans
- Secondary homes
- Stock options
The courts use business evaluators to determine the worth of your business before its potential division. They also use forensic accountants to help them determine the value of future business potential. Having an attorney can help you work with these experts to ensure they are taking into consideration all the factors that they should to get the most favorable outcome for his or her client.
Without attorney representation, you could risk losing your interest in these types of assets. Contact lawyer Todd M. Dwire for more information on how he can help you preserve your right to your marital assets during a complex divorce case.
