Divorce and Division Of Assets – Poughkeepsie Property Division Lawyer
Complicated assets and property can make it impossible to simply liquidate assets and split the cash between parties in a divorce. Not all property is always marital property, and many factors are at play.
Kevin M. MacKay Law can help you thoroughly assess your marital assets to determine what equitable distribution means to you and your family. Contact us online or by telephone at 845-462-0001 to schedule a free initial consultation.
Our Marital Assets And Debts Are Complicated. How Can We Divide Things Fairly?
The division of assets in divorce proceedings involves all marital property, which is typically defined as assets that are accumulated during a marriage. This could include homes, cars, personal property, financial assets, retirement accounts and “enhanced earning capacity” that may have developed as one spouse earned a degree during the marriage.
Equitable distribution also pertains to debts and liabilities such as credit card debts, mortgage payments, car loans and other bills for which a married couple can be held equally liable.
Property is not always easily split down the middle. The financial value must be determined before property can be divided. A thorough tax analysis must take place to determine the actual value or financial burden that asset ownership could place on one party’s shoulders. Rather than trying to take all you can from a dissolving marriage, work with an attorney to consider the long-term financial implications of property division, debt division and taxation.
Finding Reasonable Solutions That Achieve Long-Term Financial Success
Negotiations must usually take place in order to negotiate a fair settlement. In highly contentious cases, you may end up taking the matter to court and letting a judge determine what is fair. In those cases, you are not as likely to get what you need.
Our New York lawyers help you understand what to expect, what matters you should hold your ground on and what matters you should think about negotiating. No matter what, we look out for our clients’ best interests and relentlessly support and defend them whether they are negotiating a deal or are aggressively pursuing results in the courtroom.