If you are going through a divorce, you may be concerned about what will happen to your investments, bank accounts, pensions, 401(k)s, and more. It is important to understand how these assets are handled in a divorce so that you can protect yourself and your interests. Our Tobias Iszard, PC asset division attorneys share what you should know about how your intangible assets will be handled during your divorce.
What Are Intangible Assets?
Your intangible assets are those you cannot physically touch, such as investments, savings accounts, pensions, and cryptocurrency. Intangible assets are often some of the most valuable assets in a divorce. In some cases, they can be difficult to value and divide.
If you have significant intangible assets, it is important to have an experienced team of asset division attorneys on your side. They can help you protect your interests and get the best possible outcome in your divorce.
How Are Intangible Assets Divided in a Divorce?
Many factors will determine how your intangible assets are divided in a divorce, including the ownership of the assets. The courts will determine if the assets are considered separate or marital property before moving forward with the valuation of assets.
Since intangible assets may change value quickly, such as investments, a valuation will need to be made to determine the monetary value of the assets that will be considered during the division process. With this valuation, the assets will then be divided between the divorcing couple, as will physical assets, such as their home, cars, and more.
Then, the courts will look at several factors to determine how to divide the assets in a divorce.
These factors can include:
- the duration of the marriage,
- each spouse's income and earning potential,
- each spouse's contribution to the marriage,
- and more.
After the factors are considered, the court will then determine a fair and equitable division of assets that considers each spouse's needs and interests. This division can be made through negotiation or mediation between the divorcing couple or through a decision by the court.
Fully Invested in Your Success
Asset division can be difficult, especially if you and your spouse have investments, stock options, retirement accounts, cryptocurrency, or other complex intangible assets. Our experienced divorce attorneys are dedicated to helping you reach the best possible outcome when exiting your divorce.
Are you facing a complex asset division process? Schedule a consultation with our Manassas divorce attorneys by filling out our online contact form or calling us at (703) 215-1880.
