Managing real estate complications during a Hartford high-asset divorce can be stressful. However, an experienced team of professionals can help mitigate these complications. A dedicated high-asset divorce attorney can help gather professionals to build a solid team to protect your interests.
At Dolan Divorce Lawyers PLLC, our attorneys collaborate with other professionals to build a solid case for real estate asset division. By utilizing trained appraisal and financial experts, we can help mitigate complications with property division.
When making property division determinations, Connecticut courts have the ability to divide all assets owned by either partner, including all real estate. The court can divide the assets, no matter when an individual acquired the real estate or whose name the property is currently in. Therefore, if a piece of property is in only one partner’s name, that does not automatically mean the property cannot be split in a division.
Another complication in dividing real estate is determining its value. Someone must value primary residences, rental properties, vacation homes, and other real property to divide them. It may be necessary to use appraisers who specialize in valuing a particular piece of property, such as commercial properties, to consider market fluctuations and potential hidden equity.
Additionally, the couple may have commingled real estate assets throughout the marriage. If one partner utilized premarital funds or a family trust to purchase real estate or make renovations to a property, determining what portion of the value of the property should be subject to equitable division can be difficult. Forensic accounting may be necessary to determine the source of funds used for a down payment, renovations, or other property-related expenses. However, even if a spouse establishes that the funds came from premarital assets, a trust, or an inheritance, that does not automatically entitle the spouse to a credit. Because Connecticut treats all property as part of the marital estate, the spouse seeking credit must still show that equity supports such a credit under Connecticut’s equitable distribution standards. There are several real estate challenges that can arise during a high-asset divorce, but an experienced Hartford attorney from our firm can guide you through the division process.
Dividing assets can be complex in the breakdown of a high-asset marriage in Connecticut, especially when it is necessary to divide a significant real estate portfolio. When divorcing partners have accumulated significant assets, it is necessary to split the real estate fairly between the partners. Building a team of experienced professionals who offer legal and tax advice and property valuation is important. We consult tax advisors, real estate appraisers, and forensic accountants when helping you divide real estate during your divorce.
It is also necessary to gather documentation about each property. Deeds, mortgage statements, purchase agreements, appraisals, and other documentation regarding the property are important to share with your team of professionals to correctly value the property. Our skilled lawyers can assist in creating a team to mitigate complications with real estate during a high-net-worth divorce in Hartford.
Dividing assets in a high-asset divorce can be complicated, especially when you have accumulated a large real estate portfolio. By using a team of professionals who guide you throughout the process, you can mitigate real estate complications during a Hartford high-asset divorce. At Dolan Divorce Lawyers PLLC, we understand that when high-net-worth assets are at stake, properly valuing and dividing real estate often requires a team approach. Our attorneys will work with you to build a team to properly value and fairly divide your assets. Contact us today to discuss your divorce.
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