Navigating the complex legal system after a divorce is exhausting and frustrating. Divorce issues have a significant impact on your future welfare, and it is necessary to make the right decisions during this time. Along with alimony and child visitation and support, property division is one of the most challenging divorce issues to resolve.
It is in your best interest to seek the guidance of a skilled divorce lawyer. You can look for an experienced and qualified lawyer from your state by searching “divorce lawyer near me.” They ensure that your financial future is secure.
How does a divorce property division lawyer benefit you?
- Explain the state laws.
Every state has different laws regarding property division after a divorce. They either follow community property or equitable distribution. Like most other states, Massachusetts follows equitable distribution in which the division of property is fair rather than equal. The couple’s marital estate is analyzed to determine the value of the marital property and debt to decide who gets what. A lawyer can help you understand the various divorce laws related to property division that apply to your case.
- Determine the value of complex assets.
While some assets can be valued and divided easily, you require extensive knowledge to divide complex assets such as businesses, retirement accounts, and collectibles. The accurate valuation of such assets is essential, and a lawyer ensures that you receive the marital assets you deserve. They help you consult other experts, such as accountants and financial analysts, that assess the various factors that affect the value of the complex assets.
- Draft proposed equitable distribution schedule.
Both parties have the chance to present a proposed equitable distribution schedule to the other party and the judge. Your lawyer helps you value all the assets and liabilities and craft an equitable distribution schedule after considering all the factors and facts of the case. Factors that affect property division include the length of the marriage, income, employability, individual estate, liabilities, and needs. Your lawyer drafts a schedule that is fair and protects your future.
- Negotiate with the other party.
Often, couples choose to negotiate a divorce settlement outside of court to be in control of the outcome of their future. A divorce lawyer advocates for you during the negotiations conducted with the other party. They ensure that you do not agree to terms regarding property division that can lead to financial ruin. They also understand your financial priorities and help develop a legal strategy that improves the chances of you attaining a favorable outcome.
The presence of a divorce lawyer can make the divorce process simpler and less distressing for you. They understand the complexities of finances in divorce and work dedicatedly to obtain a fair settlement.