What are some of the steps to prepare for the property division in your divorce? Why is it important to pre-plan a Louisville divorce and how can the divorce and family law attorneys at Dodd & Dodd help with your case?
Our experienced, proven divorce attorneys are always prepared to quickly file when necessary but our counsel is almost always it is best to pre-plan your divorce in order to protect the goals and objectives which are most important to you.
Are you concerned about property division and how your retirement accounts, business or investments will be divided as part of your divorce? One of the most important steps to prepare for the property division in your divorce is to organize a substantial paper record of the history associated with any asset, account, investment or debt. How and when was the asset or debt acquired? You will want to organize two to three years of statements for any account or retirement plan as well as tax records and W2s or K1s for you and your spouse. If you or your spouse owns a business you will need returns and financial statements for the company as well.
The next of the important steps to prepare for the property division in your divorce is to begin to determine the genuine nature and value of every asset. This is especially true for artistic or intellectual properties, collections and real property. Many of the assets associated with your divorce can be fairly easily researched to establish a ballpark present value and/or equity. Complicated assets, such as a privately held business or rare collection will usually require expert appraisal. This may be ordered (and paid for) by either or both parties and/or the Court itself. If the Court orders an expert valuation it will apportion associated fees between the parties based upon the nature of the asset and the specific factors in your case.
Once you have organized as much information as possible documenting the assets and debts and beginning to understand their genuine value the next of the steps to prepare for the property division in your divorce is to consider what you will need going forward after the divorce. Will you be required to pay or will you need to receive child support, maintenance or both? Where do you intend to live, what is your capacity to be self-sustaining and how can our attorneys help to protect your interests while helping to lay the foundation for a new life going forward?
We invite you to review the strong recommendations of our former clients and contact us or call 502-584-1108 to schedule an appointment with one of our experienced divorce and family law attorneys.
