Helping Clients Achieve an Equitable Division of Property
In many divorces, one spouse attempts to gain an advantage over the other during the property division process. Sometimes this is done by having a family business assessed at an inflated value and then demanding cash value for his or her part of the company. In other situations, one spouse hides assets so they cannot be divided.
The Law Offices of Judith A. Wayne & Associates is a firm dedicated to competent representation of clients in Massachusetts divorce cases. We have nearly 35 years of experience in this field, and we use our knowledge and skill to overcome tactics that would lead to mistreatment of our clients.
Business Valuations in Divorce Cases
When you own a business, either separately or as a couple, what happens to the business during divorce is a major concern. In Massachusetts, if the company belonged to you before the marriage, it is likely that you will get to keep the business, but it could be argued that any appreciated value should be divided. Because the business may be the largest asset you have, we frequently recommend that clients consult with accountants, business valuation experts and similar financial professionals to arrive at a fair appraisal. Once the value is determined, we will be better able to negotiate or litigate its division.
As part of our comprehensive representation, we will be certain that you seek advice about taxation issues and the value of intellectual property as well as the division of business debts and other features unique to business owners in divorce.
Dealing with Hidden Assets
In some marriages, particularly those of high net worth individuals, one spouse may open bank accounts or engage in investment activity about which the other spouse knows nothing. If the parties divorce, it is difficult to uncover these assets, especially if they are overseas or mingled with complex investment vehicles.
If you suspect that your spouse may be hiding assets, we will suggest that you hire the appropriate private investigator or forensic accountant who may be able to uncover hidden marital assets. We work together to try to locate hidden assets, to determine if properties are undervalued, and to work with your CPA or tax attorney if there are complicated tax issues in your case.
If you have genuine concern that your spouse is hiding assets by reporting a sudden decrease in business revenue or under-reporting income on tax returns, trust your instincts. Contact us and we can help.
Contact a Newburyport Hidden Assets Lawyer Today
To arrange an initial consultation with a skilled Essex County property division attorney, please call 781-599-1144 or toll free 800-879-5503. You can also contact our law firm online. We have offices in Lynn, Salem, Malden and Newburyport. Nous parlons Francais.
