Appreciation of Separate Property
The separate property that spouses bring with them into a marriage may remain characterized as separate property in the event of a divorce, but any increased value of the assets may be reclassified as commingled or marital property, subject to equitable distribution under the law. If you are a person of high net worth, it is important that your assets are properly characterized as separate or marital property. It is equally important to obtain a proper appraisal of property value in a divorce. Even when separate property has been protected by a prenuptial or post-nuptial agreement, the appreciated value may be subject to division.Asset Appreciation Attorney Serving Orange, Dutchess, & Ulster County
My firm offers knowledgeable, experienced representation for clients of high net worth who are seeking fair distribution of the appreciated value of their property. New York is not a community property state. All marital property is subject to equitable division. Spouses do not automatically receive 50 percent of separate property. The courts will consider the question: What did the spouse contribute to the asset during the marriage, which may have resulted in an appreciated value? That often means examining intangible contributions in the home that allowed the titled spouse to work toward increasing the value of the asset.How Much Have Your Assets Appreciated During Your Marriage?
Whether or not a spouse should gain access to the asset requires in-depth investigation and knowledge of complex financial circumstances, including valuation of the business, investment accounts and the value of a career or professional practice. My firm works with independent financial accountants and valuation experts to ensure the property is fully and accurately evaluated for appreciated net worth.
Contact my offices in New Paltz, New York, to arrange a free consultation to discuss your complex financial issues related to appreciation of separate property. We will discuss issues such as:
- Characterization of property as separate property, commingled or marital property
- Appreciated value of a business or professional practice over the length of the marriage
- Indirect contributions and efforts of the spouse to increase the value of the property
- Gaining access to the asset requires
Your attorney will play an important role in determining the characterization of property and negotiating a property settlement that is equitable and protects your financial interests. Talk to a lawyer who cares. Hire a law firm that can make a difference. Contact my office today.