Complex Assets And Incomes In A Divorce
At Barbara J. Howard Co., L.P.A., we have over 40 years of experience providing alternative legal solutions for sophisticated income structures. When your compensation, excess income or income-generating assets are legally required to be divided as part of your divorce proceeding, we can help you achieve a resolution that is focused on protecting your interests.
We can advise and help structure legal resolutions, whether by negotiation or court resolution, that accomplish the division or allocation of:
- Executive compensation packages
- Real estate
- Financial accounts
- Retirement assets
- Stock, stock options, restricted stock and unrestricted stock
- Business ownership interests
- Life insurance
- Trust assets
Often, parties with complex assets are also dealing with assets that one or the other either owned prior to the marriage or are otherwise considered separate assets under the law.
When we work with you to identify marital assets, we consider whether any asset or a part of any asset is either spouse’s separate property. In Ohio, separate property includes property owned prior to the marriage, inherited property or property gifted to one spouse.
Separate property should typically be returned to the spouse to whom the property is titled. We can help you determine whether assets are separate and how to best achieve your desired allocation of those assets.
Classifying property as marital or separate can be complex. An example is when there are separate property components to a business owned by one or both spouses. We will find the best manner to provide for the allocation of business interests without causing disruption to those interests.
How To Divide Your Marital Assets
The actual division of your marital assets can be complicated. While some assets such as checking accounts are easy to divide, other assets are more complex.
For example, the division of most retirement assets requires skilled documentation and planning. Some retirement assets are not subject to division, may not be vested or funded, or may not be easily valued. In each situation, we can find solutions so that you receive your rightful allocation.
Some assets, such as stock options and restricted stock units, may not be divisible. In those cases, our lawyers will find alternative solutions to ensure that you receive your rightful share. There may also be other nonqualified assets that are treated differently and require careful consideration.
Tax Issues Related To Asset Division
Tax issues are routinely a significant part of the consideration of asset division. Often, there are financial consequences that include short-term and/or long-term tax implications. An understanding of those tax consequences can be key to achieving a division of assets that is optimal for you and avoiding future unforeseen tax consequences. Having all the information about how those aspects of the tax code affect you can help you determine the most beneficial division of assets.
Effective, Efficient And Successful Attorneys
We understand the nuances of highly complex asset cases. Our clients bring their unique goals and concerns to us for trusted advice on specific steps to achieve their desired outcomes. We will help you assess your needs and interests to help you achieve your best possible resolution.