Taking The Stress Out Of Property Division
Property division is perhaps one of the most stressful aspects of a divorce. At Majer, Sheen & Piereth, P.C., we understand your goal is to protect your financial interests and future by protecting your marital property rights in a fair settlement agreement. Our experience and skill in the equitable distribution of marital assets means we take a detailed approach to the entire process. Here are the basic steps associated with a comprehensive asset division.
Property Discovery And Identification
This step includes finding all the couple’s property and assets, including:
- Bank accounts
- Retirement savings
- Real estate
- Material possessions such as cars and jewelry
Once evidence of all property associated with the divorcing spouses is found, the status of each asset needs identification. There are two categories: marital and separate. Marital property is earned or received during the marriage, while individual property was either acquired before the wedding or was a gift (such as an inheritance) given to one spouse. Only marital property will be eligible for division between the spouses.
Valuing Marital Property
To know the exact amount of assets eligible for division, our attorneys ensure that an accurate valuation process takes place. This includes identifying the amount of marital debt for a complete picture of the financial situation.
Finalization Of A Division Agreement
Resolving property division matters takes place either through negotiation or litigation. Majer, Sheen & Piereth, P.C., takes the worry out of property division in divorce with our legal advocacy in your best interests. Learn more about how we can help you by calling us at 630-553-7788 or by emailing us to schedule an initial consultation.