Whether married, single or in the process of a divorce, many people do not have a correct valuation of their assets. Assets can come in a variety of forms whether it be property, artwork, money markets or saving and checking accounts to name a few. Because the value of these assets can appreciate or depreciate depending on an asset’s specific market, there can be significant fluctuation in an asset’s value over time. For those going through a divorce in Montgomery County, it is important to have a complete understanding of asset valuation and how it affects marital property.
Marital property has been the center of many couple’s disagreements when it comes to divorce. Full disclosure of marital property is the key to an equitable division of assets. This way, all of the assets are out on the table during negotiations and can make this discussion clearer and a more navigable path for both parties. Usually a client has certain interests that are unique to them and can affect the way that they want to negotiate or litigate a property division settlement.
Sometimes certain investments, like retirement accounts, can be particularly confusing for those in the midst of an asset division. If much time has passed since the induction of the account — such as a retirement account that has been accumulating for years — it can be tough to know how it should be handled if neither party has retired yet. Also, stocks may have appreciated in value since the time of purchase, however many years ago. Stock may have also accumulated dividends over the passing years. All of these aspects are why it is important to have professionals that can guide a divorcing person through the process.
Sometimes even experts need experts and when appropriate our firm may enlist the help of a forensic accountant or qualified valuation expert. These experts can get to the bottom of any discrepancy in order to get a clear picture of asset valuation. Do not worry about answering these tough questions alone, the Law Office of Steven C. Girsky can help. Our website can be a good starting point for people who need more information about divorce issues.