When it comes to getting a divorce, many people in Pittsburgh may be concerned with what assets they will receive in the divorce settlement. Sometimes, a complex property division can slow down the process. It’s not always easy to make sure both parties are treated fairly and equitably.
It’s not quite as simple as splitting the assets down the middle. In fact, it’s really not as simple as using a percentage formula. The reason for this is that all assets are not created equal. Even if the value of the assets is the same on a date agreed to by the parties, the ultimate value of the assets may be quite different.
For instance, the bonds in a municipal bond portfolio have different credit qualities and maturity dates. Some funds allow withdrawal earlier than others without penalties. Therefore, the type of assets being distributed may determine whether one party ends up coming out with essentially more than the other.
If there is a business involved, splitting up that business will depend on many factors. It can depend on whether the business was started before or during the marriage. It can also depend on how much involvement each spouse had in the business. Other factors may also need to be taken into consideration depending on the individual case.
Pittsburgh couples that are involved in a complex property division may benefit from advice and assistance of several professionals to ensure that both parties are treated fairly in the divorce settlement. The court may not approve a settlement that leaves one party in a significantly better position than the other. As illustrated above, there are many issues and factors to be negotiated when it comes to dividing marital assets.
Source: The New York Times, “From a Prominent Divorce in the Affluent Class, Lessons for All,” Paul Sullivan, Aug. 9, 2013