DIVISION AND VALUATION OF BUSINESS ASSETS
Property division is one of the hardest parts of a divorce. It is can be the root of ongoing disputes between couples in divorce litigations. Before any attempt is made to divide marital property, a fair assessment must be made of the true value of their estate. An experienced divorce attorney in Kansas can help execute a plan so that the division process goes as smoothly as possible.
About Division and Valuation of Business Assets
The valuation process is important to protecting your rights to the wealth you have accumulated during the marriage. It is normal that valuation experts will be needed to protect your interests during the divorce property division proceedings. One of the most difficult things to properly value may be a small business or family business. The value will depend on the type of business, the valuation method chosen, the location and other factors.
Also, if there’s a shareholder or a partnership in the business then valuing your portion of it can be hard too. Your attorney will help you in determining the right valuation method and in finding the right appraiser to use to present the evidence regarding the value of your interest.
Division of Retirement Assets
Retirement savings is one of the largest assets someone can own and can become an important part of divorce. If your spouse has an employer-sponsored retirement plan or a pension plan, then you’re legally entitled to part of the balance unless you have a prenuptial agreement. A qualified domestic relations order is used to protect your interests. A QDRO only applies to plans that are IRS tax-qualified. A court order instructs your spouse’s pension plan on how to pay your share of their benefits. The QDRO is the tool that enforces this type of award in the divorce decree. A divorce attorney can help you to draft this important document.
Hire a Divorce Attorney to Help Protect Your Rights
It’s important to ensure that you receive a fair portion of marital assets during divorce. This makes proper valuation of assets important. To learn more about divorce-related business and asset valuation, call our team of divorce attorneys in Kansas today at 913-962-8700.