Dividing property during a divorce already has its stressors, but when parties are faced with dividing valuable property in Hamilton County high asset divorce cases, the situation can be much more complex.
To help ensure that your rights and assets are being protected during the separation process, it may be in your best interests to have a skilled high-value divorce attorney on your side. Our team is familiar with handling these cases and is available to assist you during your marriage dissolution.
The laws in Hamilton County dictate that judges make an equitable division of property with each case. Many factors go into a judge’s considerations, including, but not limited to the following:
The court might also consider dissipation. A party who tries to reduce, conceal, or waste the value of a piece of marital property while the marriage is breaking down is participating in dissipation. In these cases, the party typically does this to deprive the other spouse of that marital property. Because of the variety of factors that will go into dividing high-asset property in a divorce and the risk of one spouse depriving assets, having a local attorney helping to secure that property can be crucial.
Hamilton County courts require each party to file an income expense statement, financial statements, applications for loans that have been filled out during the marriage, and much more. These forms are designed to show the actual financial standing of each party.
For instance, when people are trying to get a loan, they are likely to overestimate their value, and when they are getting divorced, they generally try to underestimate their value. Therefore, comparing an application for a loan to a bank with financial statements filed with the court can be instructive in determining the actual worth of high-value assets.
Divorcing with a business can also be highly complex, so it is crucial to have professionals available to valuate the company during the dissolution. Fortunately, local attorneys have a list of resources of qualified forensic accountants and business valuators available to assist these parties.
To conduct a formal business valuation, a forensic accountant familiar with high-asset divorce cases examines the company’s past, present, and future financial information to determine a fair market value on the individual’s behalf. A business valuation is designed to then help a Hamilton County court determine the best way to allocate the divorcing parties’ high-asset properties based on the value of their business.
Because there is so much at stake, dividing valuable property in Hamilton County high-asset divorce cases can be overwhelming. However, having an attorney who can provide guidance in both business and family matters is often essential in high-asset property division cases.
Our team is understanding of your situation and is equipped to help you through the process. We can bring in experts on your behalf and fight for a favorable outcome. Call the firm today to discuss your case and get started.