Skilled Guidance For Complex Asset Division Issues

Issues relating to the division of property can be some of the most contentious aspects of any divorce proceeding. Resolution can become even more difficult when there are significant or hard-to-value assets that must be divided. This is one reason it is important to have a skilled lawyer by your side who can help ensure all property is accounted for, properly valued and equitably divided. Our attorney, Zachary D. Smith, has been certified by the Ohio State Bar Association as a family relations law specialist and is a fellow of the American Academy of Matrimonial Lawyers. Family law is what we do. At our law firm, Zachary D. Smith, LLC, we have guided numerous people through the property division process as a part of their divorce proceedings.

Dividing Significant Assets Can Be Tricky

Divorce courts in Cincinnati and throughout Ohio adhere to the principle of equitable distribution of marital property. It is important to keep in mind that “equitable” does not mean the same thing as “equal.” Rather, any property division will be carried out in a way that is as fair as possible. Generally speaking, if the property was acquired during the marriage, it will be subject to division. Property acquired prior to the marriage can be excepted from division, so long as the party advancing that claim proves the value of that premarital property. We can help ensure a fair and equitable division of all types of complex assets, including:

• 401(k)s and pensions, which many of us save funds for throughout our lives
• Closely held businesses and LLCs, which spouses are sometimes involved with
• Automobiles, car collections and current vehicles
• Furnishings, from artwork to furniture you cherish
• Real estate, such as vacation homes, rental properties and investment purchases

We will help identify property that may be divided and, when necessary, work with other experts such as business valuators and forensic accountants to help properly value property. We want to help divorcing couples reach an agreement outside of court. If litigation is the only way to resolve your dispute, we will tenaciously represent your interests in court.

We also have experience in helping clients divide complicated investment portfolios often containing different types of securities and security offerings. Simply put, dividing an investment portfolio, with ever-fluctuating value and varied tax consequences, is a complicated and critical part of the process. Walking away with what is rightfully yours is crucial. We can help you accomplish that.

 

The Importance Of Asset Tracing For Fair Property Division In Divorce

Asset tracing in divorce aims to uncover all marital assets, including hidden, undisclosed, undervalued or improperly transferred property. This process requires detective work from experts such as forensic accountants, investigators and legal professionals who utilize various tools and techniques, including:

• Forensic accounting
• Financial investigation software
• Public records searches
• Interviews and interrogations
• Surveillance and reconnaissance
• Data analysis tools
• Bank and financial institution records

Without proper asset tracing, one spouse may conceal assets or downplay their value, resulting in an unjust division of property. So, asset tracing ensures transparency and fairness in the marital asset allocation, ultimately facilitating a more equitable resolution to divorce proceedings.

Armed with the information obtained through asset tracing, our attorneys can negotiate a fair and equitable settlement on behalf of our client. We can advocate for our client’s interests, ensuring all assets are accounted for and divided according to the principles of equity.

Understanding Commingling And Transmutation Of Assets

Commingling is the mixing or blending of separate property with marital or community property, making it challenging to distinguish between the two. Transmutation happens when separate property is transformed into marital or community property through agreements between spouses.

While both commingling and transmutation involve the mingling of separate and marital assets, they differ in their legal implications.

Since commingling involves the physical mixing of assets, it can be difficult to trace and allocate them during divorce proceedings. On the other hand, transmutation changes a property’s legal character, which can have significant implications for its division in divorce.

You may need some detective work to determine which property is subject to division and what remains separate. Experienced attorneys can identify separate property that should be excluded from the marital estate by tracing the origin and history of assets.

Get Help With High Asset And Property Division Issues in Ohio

It is important to ensure that your property division is carried out fairly and equitably. For guidance, call us at 513-275-5367 or send us an email.