Division of property is a critical part of the divorce process. As marital assets are split into two fair and equitable parcels, both sides worry that the division will leave them impoverished or stripped of assets that are essential to living a happy life.
Property division in divorce begins with a simple balance sheet.
Both parties enter their assets onto this sheet, line by line, keeping marital items (those acquired or commingled during the marriage) on one sheet, and non-marital items on another.
Marital assets, including debts are the ones that will be divided between the two parties. Non-Marital items, including debts, stay with the original owner.
Each item must be identified. If one party withholds information about assets, Christian Smed can launch an investigation to locate and identify those hidden assets.
Each item must be valued. When assets are complex, like businesses and partnerships, real property, retirement savings and collectibles, we work with expert appraisers to put an accurate valuation on the item.
Finally, every valued item must be dated. If the parties' are not able to reach a valuation date, the Court will determine the valuation based on the facts and circumstances of the case.
If dividing a retirement account is being divided a separate Order, a Qualified Domestic Relations (QDRO), must be entered by the Court to divide the monies.
At Christian D. Smed, P.A., we are skilled in every aspect of identifying, valuing and dividing marital property. Because of our analytical capabilities, we play an important role in high net worth divorce and complex divorce property division. Unlike many firms, we are comfortable working with complex spreadsheets. When it is clear that not all assets have been put on the table, we work with forensic accountants and others to locate and value these hidden assets.
Complex Property Division
Most lawyers can handle most property division problems. At Christian D. Smed, P.A., we pride ourselves on our skills in collecting, analyzing, valuing and dividing more complicated assets. These include:
Small businesses and business interests (solely and jointly owned)
Usually, the primary concern of couples in divorce is not obtaining advantage in property division so much as conserving the value that is there, keeping businesses intact when possible, keeping revenue flowing and avoiding undue taxation.
Contact Christian D. Smed, P.A. in Winter Park, via email or at 407.644.2978, describe the business or property in question, We can explain your legal options.
We invite you to peruse our website's specific property division topics:
When your future is at stake, you want to work with the Orlando metro's most knowledgeable and most skillful property division attorneys. Contact Christian D. Smed, P.A. in Winter Park, at 407.644.2978 or contact us today