Lawyer Protecting The Financial Rights Of Professionals
Professionals and business owners often have complex assets and interests that can be difficult to divide in a divorce. For example, business ownership interests, investments, deferred income and retirement assets may all be divided in a divorce. Properly dividing these interests in a Florida divorce requires the skilled assistance of an experienced attorney.
At the law firm of Matthew Lane & Associates, P.A., we have an in-depth understanding of the divorce process, and we can clearly explain what you can expect during your divorce. From our offices in Palm Beach Gardens, West Palm Beach and Wellington, Florida, we represent clients throughout the area.
With more than 30 years of experience handling complex financial issues, attorney Matthew Lane is committed to protecting the financial rights and interests of professionals during a divorce. This includes professionals from a wide range of industries such as physicians, lawyers, business owners, corporate executives and other professionals.
Issues Facing Professionals In A Divorce
When going through a divorce, everyone faces the same core issues: alimony, property division, custody and visitation, and child support. Professionals and business owners, however, face unique challenges as they frequently have complex assets, debts and interests. Some of the common issues that face professionals include the division of:
- Businesses or professional practices: During a divorce, marital property is divided. Marital property not only includes assets such as a home or car. It also includes increases in value to existing assets. This means that any increase in value or profits from a business venture or professional practice may be included in marital property and be divided during your divorce.
- Retirement assets: You build a retirement nest egg over a lifetime, and it can include a wide range of financial tools, including annuities, 401(k)s, Roth IRAs and other investments. Many of these assets, however, may not be divided until a future date. By using a qualified domestic relations order (QDRO), however, you ensure that retirement assets are properly divided when you retire.
Income: If you or your spouse own a business or are independent contractors, income may vary and require a careful valuation in order to properly calculate the value of that income. Additionally, many executives and professionals have deferred income, such as stock options, that may vest at a later date. Taking into account all forms of income is vital to ensuring an appropriate equitable division of property and assets in your divorce.
With the division of any type of asset or debt, a careful investigation and evaluation is vital. At our law firm, we work with forensic accountants, business valuation specialists, appraisers and other financial professionals in order to properly assess and value our clients’ assets.