Of all matters involved in a divorce, property division is among the most likely to become contentious and antagonistic. When pushed, most divorcing parties will back down from a fight when they know the best interests of the children are at stake, but this approach can change drastically when money and assets are involved.
Whether or not you are facing a divorce in which significant assets are involved, it is important to work with a lawyer who has experience handling property division issues. Our entire team at The Grinnell Firm, PSC, represent clients in property division and other divorce-related issues in Lexington, Richmond and Florence, Kentucky.
One of the first steps in asset division involves separating marital property from nonmarital property. Longer marriages with more diversified assets can complicate this part of the process, with assets such as:
Once we have separated the marital from the nonmarital property, it is important to valuate the marital property. Collectibles, real estate property, jewelry and other related items can present unique challenges in valuation, yet attributing value properly is critical in equitably dividing assets in divorce or separation.
At The Grinnell Firm, PSC, we have experience and knowledge handling these matters, and we are connected with a network of experts to help properly valuate and divide assets. This includes qualified domestic relations orders (QDROs) for dividing retirement benefits and other complex assets.