DIVISION OF ASSETS AND LIABILITIES IN DIVORCE

Division of Assets and Liabilities

In a divorce, assets acquired, and liabilities incurred during a divorce are divided. The enhancement in value of assets acquired before the marriage may also be considered a marital asset.

Marital assets can include the following:

* the marital home
*investment properties (real estate)
*other investments
*businesses
*retirement plans and investments
*increases in the value of non-marital assets

Marital liabilities can include the following:

*mortgages
*tax liabilities
*credit card debts
*business and personal loans

Division of these assets and liabilities can be complicated. If assets are income-producing such as investments and businesses, it is necessary to consider the income as well as the value of the asset itself. If the value of the asset is not agreed to by the other spouse, it is often necessary to hire experts to do an evaluation.

We understand that the division of your assets and liabilities can impact your financial future and the financial future of your family for generations to come. Our goal is to protect your assets and to guide you to make wise decisions during a divorce. Contact us for more information!

 

The Divorce and Family Law Attorneys at The Law Offices of Audrey A. Jefferis provide services in the following counties: Pasco County, New Port Richey, Pinellas County, Palm Harbor County, Trinity County ,Hernando County and all Hillsborough Counties. Let us help you today!

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