Ensuring Your Interests Are Protected in the Division of Marital Property
Divorce attorneys in Boston, Springfield, Providence and New York City
The economy has created a number of challenges in the area of marital property division:
- The value of some assets may have gone down, particularly family homes, vacation homes and pension funds. Whereas in years past, the family home was typically an asset both parties wanted to keep, some people are now finding it to be a financial liability.
- Some assets may be difficult to properly value because of economic fluctuations, such as closely held or family businesses and real estate investments.
At the law offices of Denner Pellegrino, LLP, our divorce lawyers can access a wide range of financial experts, including forensic accountants and appraisers, to obtain a fair valuation of complex assets, family businesses, and real estate interests.
Our firm can access extensive resources on behalf of clients with significant estates. Our goal is always to protect your financial interests and your future. To schedule a consultation with one of our divorce attorneys, call 1-866-348-0900 or contact us online.
Due consideration to every detail: Taxes
When dividing marital assets, it is critical to take into account the tax ramifications of that division. For example, when one party wishes to buy out the other's interest in a family business, the structure of the buyout agreement will determine its tax rate (as ordinary income or as a capital gain). Dividing retirement assets can also have important tax implications, with some types of pension plans and IRAs being taxable. In some cases, the tax ramifications may indicate that a property settlement would be a better option than alimony.
We work to structure asset and debt division in a way that ensures our clients are not unfairly penalized. In all cases, we work to position our clients as advantageously as possible.
Ensuring the proper transfer of assets: Retirement funds
Will you be splitting a retirement fund? Accepting a lump sum payment or receiving payments only when you reach retirement age? Does the employer or the administrator of the pension fund have any requirements that could limit your choice of how these funds can be accessed or divided? Will a QDRO (qualified domestic relations order) be needed in order to secure your share of a pension fund? We will guide your decision-making and handle all these details.
Prenuptial agreements in divorce
A properly drafted prenuptial agreement can play a controlling role dividing assets in divorce, but there are situations where the validity of the agreement may be called into question. If the agreement is patently unfair or the court believes coercion was a factor in its negotiation, the agreement is likely to come under review.
Four offices and multilingual staff to serve you
From the initiation of your divorce through final settlement, your Denner Pellegrino lawyer will provide compassionate guidance, skillful representation, and personal attention. We have four offices to meet the needs of clients in Boston, Springfield, Providence and New York City.
Contact us online to discuss the issues in your divorce or any family law concern. Or, call us toll free at 1-866-348-0900, locally in Springfield at 1-413-746-4400 or in Boston at 1-617-227-2800. Our telephones are answered 24/7, allowing us to respond quickly to emergencies.
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