If you and your spouse are contemplating a divorce and are a high-net-worth couple, the complicated process can include appraisals of business interests and real estate and questions about how to distribute sentimental mementos, such as expensive jewelry. Maryland is an equitable distribution state, which means assets acquired during the marriage are not automatically halved as they are in community property states.
A Frederick complex property division lawyer can help you avoid stress by drafting a pre- or post-nuptial agreement. If you have not adopted one and now face divorce, our property division attorneys can guide you through this process, including skilled negotiations, accurate appraisals, and competent representation in Court.
Using pre- and post-nuptial agreements is a sensible way for couples to calmly and lovingly agree upon property division before a relationship becomes contentious, which is something no spouse anticipates. For instance, property you owned before marriage or an inheritance will remain separate if you do not co-mingle it and your spouse does not contribute to its growth in value.
If you have assets worth at least $1 million, your high net worth makes dividing property during a divorce more complex. Some assets that can be complicated to divide include:
The idea of equitable distribution acknowledges that a couple works together to build a home and family, even if one spouse earns considerably more money than the other, who may be a stay-at-home parent or who may have sacrificed earning power to support the other spouse as a student preparing for a well-paying career. In these cases, the Courts can allocate additional assets to the spouse with lower earning power, including alimony or the family home, particularly if minor children live with the stay-at-home parent. For insight into your situation, contact our Frederick complex property division attorneys now.
You must prove that any property you claim as separate really is separate. Our attorneys can lead your search for documentation. This may include inheritance and banking records to show that you alone control a property and never co-mingled it, real estate deeds for property purchased before the marriage that only you paid for, including any improvements, or a partnership or limited liability company agreement with a buy-out clause for your business specifying the distribution of your share of ownership should you retire or pass away.
We can help you keep records concerning your assets. Separate bank accounts are useful as proof. If there is a dispute over the value of an asset, such as an original painting or a valuable book collection, our attorneys understand the appraisal process and ensure that all parties know the fair value. If you believe your spouse is withholding assets, we can also direct a forensic accountant to uncover the deceit.
If you wish to keep specific marital assets, we can negotiate with your spouse’s lawyer to retain other assets of similar value to ensure a fair outcome. Property division will be less frustrating and complex with our Frederick lawyers advocating for you.
If a divorce is imminent, our attorneys understand your stress and emotional turmoil, even in a warranted breakup, and can explain the best action for your situation. With the help of a Frederick complex property division lawyer, you can protect what is rightfully yours and avoid contention and stalemate. At Rolle & DeLorenzo, we have decades of experience helping families like yours through dark times and into brighter futures. Call now and let us start helping you.
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