What is the Value of My Marital Estate?
Generally speaking, a marital estate is divided equitably. In order to divide a marital estate, your divorce attorney must know the values of all assets and debts. The value of those assets may require the opinion of an expert on valuation. The court looks at many factors to determine how to divide assets and debts.
If a husband or wife wants to include an asset or debt in the marital estate, that person bears the burden of proving a value. The court may rely on expert testimony to determine the value of assets, such as real property, art, antiques, guns, coins, and business interests.
Your attorney, together with a valuation expert, can help determine the value of your marital estate to ensure assets and debts are properly assessed.
In the case of a closely held business, if the court does not have enough reliable evidence to determine value, then the court could appoint its own business valuation expert.
If you’re facing divorce, it’s important to have your assets and debts carefully reviewed and assessed.
The attorneys at Lakeshore Law & Mediation can help. We hire the most experienced valuation experts and are committed to helping you navigate through all legal aspects of your divorce.
Do you have questions regarding your marital estate? We’d love to hear from you. Contact us today!