Are your hard-earned assets at stake in your divorce? Are you having trouble determining where to begin splitting assets?
During the divorce process, asset protection is a one of the most important factors that you should consider. Asset protection is an important aspect of the divorce process since the property that you purchased, or a business that you own, can be taken by your future ex-spouse. Anyone facing divorce with sizable assets should not hesitate to contact an asset protection lawyer.
Even in situations where a divorce is unexpected or a prenuptial agreement is in place, protecting what rightfully belongs to you is important. And, without a lawyer who specializes in asset protection, the assets and property that you’ve worked so hard to attain can be taken by your former spouse.
Sometimes people simply do not realize exactly which assets are at stake when they face a divorce, which makes it even more imperative to seek the counsel of a talented asset protection lawyer. The type of assets that are generally up for separation, includes pensions, 401(k)s, IRAs, intellectual property (IP), stocks, bonds, mutual funds, LLPs, venture capital investments, business interests, recreational vehicles, real estate, artwork, jewelry, foreign accounts, cash, and so much more.
Identifying the items that you and your spouse individually purchased isn’t necessarily that simple when it comes to dividing assets. Whether you’ve been married only a few years or you’ve built a life together, it is most likely that your finances found a way to blend together whether you intended them to or not.
In the case of property, a divorce court will only divide marital property, allowing you to keep the property that you purchased prior to getting married. The process sounds straightforward: you keep any property that you had before getting married, and the house that you and your spouse bought together gets split down the middle.
Unfortunately, it’s hardly ever that simple. In most cases, assets acquired before the marriage were likely combined into your marital assets. For example, what if you owned a house prior to getting married, then upon marriage, you sold that house and used those proceeds to purchase a new house for you and your spouse? Does your spouse take half of the home’s value where you currently live (even though you used your personally-owned equity from your previous house to buy your jointly-owned current house)? Issues like this are not uncommon. And far more complex issues must often be sorted out, making it imperative to be under the counsel of an experienced asset protection lawyer.
At the A.A. Castro Complex Litigation, Appeals & Negotiation, PLLC, we specialize in extremely complicated matrimonial matters. You can rest well at night knowing that your assets will be protected, and that the complexities of your assets in your divorce will be properly and meticulously handled. We will cater to your individualized needs to devise a strategy that maximizes amount of assets that you retain through your divorce.
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We are available to meet in Manhattan and Syracuse, New York. If you would like to meet outside of these areas, please contact us and we can arrange for a meeting place to discuss your matter.
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