Asset And Wealth Distribution In A Divorce
Dividing assets in a divorce can be one of the most contentious aspects of a divorce. Therefore, it logically follows that the more assets and wealth in high net worth marriages, the more contentious everything can become. No matter what kind of marital assets are involved, the divorce attorneys at Sammons Olivero & Paraschos have decades of experience presenting innovative negotiation strategies during divorce settlement negotiations or mediation. They will also advocate aggressively on behalf of our clients’ best interests should a divorce case go to trial.
Dividing Property In A Divorce And Equitable Distribution In West Virginia
Divorce is often complicated by the fact that a couple may own a house together, as well as other items such as vehicles and land. In the state of West Virginia, spouses are required to divide their marital assets and wealth equitably. However, not everything can be split right down the middle. Dividing a house, retirement plans or a shared business is more complicated, and the court will consider different factors to determine what is equitable. These factors can include:
- A spouse’s monetary contributions to the marriage, like income or the use of separate funds for the marriage
- A spouse’s nonmonetary contributions to the marriage, like child care and care for the household
- A spouse’s contributions to the other spouse’s education, like working so the other spouse could attend school
- A spouse’s lost opportunities because of choices made to benefit the marriage and family (like giving up a job or career to stay home with the children)
In an equitable distribution of assets, the value of an asset granted to one spouse will be evaluated compared to an asset given to the other spouse. At the end of the property and asset division, the property and assets granted to each spouse should be fair.
Our divorce attorneys understand how difficult it can be to take everything you’ve accumulated during a marriage and divide it between the parties. Our lawyers are also experienced negotiators. They will aggressively advocate for your legal rights and interests in settlement negotiations, mediation or in court.