Know Your Net Worth So You Can Protect It
The following are just a few of the areas to be considered when valuing marital assets. It is important to have strong, properly researched and verifiable answers to questions about your finances. Valuation of your net worth is important to enable you to make informed decisions about spousal support, child support and property division:
- Business Assets
- Financial Accounts
- Retirement Accounts
- Earning Capacity
At Arroyo Copland & Associates in Albany, New York and the surrounding Capital District area, we work with a network of experts, including accountants and business professionals to help you correctly value your marital assets.
An Accurate Picture of Your Net Worth
Not having a clear understanding of your current financial situation and your long-term earning potential may give the other side the opportunity to dictate the terms of distribution and support during your divorce negotiations. An unclear picture of your financial net worth may end up costing you financial hardship. Arroyo Copland & Associates will help you get that clear understanding of your financial situation in order to maximize your financial position.
- Pensions - People most often think about who will get the house, the car, the dog and the big screen TV, but division of long-term accounts are often of equal or even greater importance. The QDRO (qualified domestic relation orders) splits or changes ownership of a retirement plan to the divorced spouse.
- Business Assets - Many small and home businesses have finances that can be difficult to accurately value, particularly when there is intermingling with family finances. It's important to know who owns what and how much everything is worth during divorce proceedings.
- Earning Capacity - The question of how much you might reasonably have later is as important as the question of how much you have now, and plays a significant part in questions of support.
Our attorneys can help you draw a clear legal picture that we use to negotiate for beneficial property, marital asset division or terms of support. We have the experience to know the value of a clear financial picture, and by working collaboratively with you, we can be effective in pursuing your goals.
Contact the lawyers of Arroyo Copland & Associates today to help understand your present and chart a better future.