(833) 553-4251
(833) 553-4251
When you and your spouse have shared investments and assets, this accumulated wealth can complicate the dissolution of your marriage. In some cases, you may need help with the appraisal of assets and liabilities in Austin. This goes beyond the value of marital property, as it is also crucial to have a clear picture of your debts as well.
Determining the value of the assets and obligations is often a point of contention during divorce proceedings. This is especially true when the size of the shared estate is significant. You could benefit from discussing how to protect your rights with a dedicated property division attorney.
Before a judge can divide marital property or order assets to be liquidated, they must first have a clear understanding of what these items are worth. This usually involves an appraisal of the asset by experienced professionals. Without having details of the value of certain property, it is impossible for the court to move forward with splitting these assets between spouses.
Identifying the value of some assets can be more challenging than others. While there is little doubt what cash or a used vehicle in decent condition might be worth, other properties can be harder to place a dollar value on. This includes rare art, jewelry, or commercial real estate.
When dealing with high-value or rare assets, it is typically necessary to rely on financial experts to make an appraisal. These individuals can use their experience to establish what something might be worth when there is not a general consensus on its fair market value. With rare valuables, the limited potential buyer pool can make it difficult to determine exactly what it is worth. Testimony from these experts could have a tremendous impact during the trial.
An Austin attorney could help with every aspect of a divorce case, including the process of appraisals and identifying the experts who can ensure accurate evaluations.
Divorce disputes in Austin do not always come down to battles over certain assets. A key issue in many cases is the amount of debt and who ultimately is responsible for it. Much like assets, these obligations are frequently shared equally—with some exceptions, particularly for debts that are accrued prior to marriage or without the knowledge of one of the partners.
Getting to the bottom of these issues can be complicated. There are cases where following the paper trail of debts or missing property can be difficult to follow without the help of an expert. That is where forensic accounting comes in. A forensic accountant can provide helpful insight into how money was spent or where certain obligations were incurred. This includes not only a review of the couple’s finances but also potentially relevant business records as well.
If you are currently going through a divorce, the issue of property division may be weighing heavily on your mind. The appraisal of assets and liabilities in Austin is an important early step that can have a dramatic impact on the final outcome of your case. Contact our firm today.
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