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Protecting Your Assets During Divorce

Whether you have built a life together or have been married just a few years, there are likely many aspects of your finances that must be sorted out. During your divorce, the courts will divide only marital property, which is generally property acquired after the date of marriage, except for gifts and inheritances through the date of your separation, or divorce, depending upon the jurisdiction. Sound easy? It is not. In the midst of a marriage, you have most likely mixed those assets that you had prior to the marriage, with those that you acquired during the marriage. You may have also maintained and increased the value on an asset that was once your spouse’s prior to the marriage. Or, what happens if you own a home prior to the marriage, but use the proceeds from the sale to purchase a marital home. How will executing a deed of gift for real estate impact the distribution of the equity in the property? When complex issues such as these arise, it is necessary to contact divorce attorneys with expertise in asset protection and property distribution. The Washington at M.C. Thomas & Associates have years of experience focusing on high asset cases and fighting to protect property to ensure you retain assets that are rightfully yours.

It is not always easy for a spouse to identify all of the assets that may be included in the valuation and distribution phase of litigation. That is why it is important to hire experienced divorce attorneys who are skilled in protecting your assets, and in turn, protecting you. Together, we identify an array of property that you own or have an interest in and devise a strategy to maximize your likelihood of success. Marital property and assets that we may seek to include in the distribution phase can include:

Retirement:

  • QDROS
  • Pensions
  • Military Retirement
  • 401(k)s
  • Individual Retirement Accounts (IRAs)

Business Interests:

  • Goodwill value of a spouse business owner
  • Family-Owned business division
  • Business Valuation
  • Patent Valuation
  • Celebrity Name Value
  • Value of Professional Degrees attained by one spouse during marriage

Securities/Stock Options:

  • Stocks
  • Bonds
  • Mutual Funds
  • Foreign Currency
  • Gold
  • Venture Capital Investments
  • Other Investments

Personal Property:

  • Vehicles
  • Boats/Yachts
  • Private Jets/Airplanes
  • Motorcycles
  • Skis
  • Jet skis
  • Artwork
  • Jewelry

Cash

  • Foreign Accounts
  • Offshore Accounts
  • Local Accounts

Even if your spouse is concealing assets, we will assist you in discovering all of the property that should be divided through the “discovery phase” of litigation. During this phase, attorneys obtain documentation by exchanging it with counsel, and issuing subpoenas to banks and other financial institutions, including but not limited to bank statements, tax returns, loan applications, real estate documentation, business records and more. Upon obtaining the requested documentation, we typically conduct a deposition of the other party and relevant witnesses to capture a complete financial story. Protecting your financial interests is a serious and complicated matter that should not be handled without competent, experienced divorce attorneys at your side, fighting for you each step of the way. Call our Washington, D.C., Virginia and Maryland divorce lawyers today to learn more about how to protect your assets and property rights during your divorce.