When a couple files for a divorce, one of the most difficult issues that arise is the division of property. The accumulated wealth needs to be distributed among both considering many factors. During such situations, it is advisable to hire a property distribution lawyer for quality representation and also to make sure that the task of the division of assets is done with discretion and precision.
Miami, FL -- (SBWIRE) -- 12/19/2014 -- The objectives in complex property distribution case are challenging, since many aspects are taken into consideration. They include determination of what all will be considered as marital property and separate property, and how to value unique assets that have marital and separate property components. The division must also be done in such a way that the tax obligations of are kept to a minimum, the asset is kept intact, and the cash flow is preserved.
Some of the main asset types include:
a) Real estate in which vacation homes, commercial properties, and condos are considered.
b) Interests from rental property and undeveloped land
c) Business and professional practice valuation
d) Investments in stocks, commodities, mutual funds, and bonds
e) Closely held business interests
f) Life insurance policies
g) Inherited properties
j) Objects of art
k) Retirement funds and benefits like 401(k), pension and IRA
Additionally, distribution of the property is usually based of the age of each spouse, their earning capacity, and their educational background is kept in mind. Valuing and dividing property can be an emotionally taxing process for any couple. Hence, it is essential for those dealing with a marital property distribution issue to retain a South Florida Property Distribution Attorney who has an extensive experience handling property division cases and can help the couple understand these complicated issues. Most of the lawyers also offer a free initial consultation these days.
About Barranco Law Firm
Barranco Law Firm is considered one of the elite family law firms in South Florida that can handle the task of dividing investments that have been appreciated over time. South Florida property distribution attorneys at Barranco are respected for their seasoned and levelheaded advice, analytical power, and case winning ratio. One can contact them on their website barrancolaw.com.