Divorce is a heart breaking event in any couple’s life. It not only separates them from their spouse but with all the other things related to their spouse. Division of property in divorce is getting common these days in Greenville SC. The property which the couple purchases together is often put for the division. Many other assets and liabilities are also divided during divorce for the equitable division. To make this type of division possible, there is a need to get the services of professional divorce attorney. Each partner of the divorcing couple is free to hire a divorce attorney from Greenvile SC to ease down the complications involved in the distribution of property while divorcing.
Valuation of the assets for the equitable distribution
While divorcing, each of the spouses has the full right to get the equal distribution of the property. Hence, valuation is an important part of the asset distribution. The valuation is done to determine the fair market value of the property. It is also determined whether the property is separate or marital. It can be difficult to determine whether the business or assets are owned individually by the partner or have been purchased through the joint funds.
Distribution of assets and liabilities
After the valuation process is done, the discussion between the divorcing partners continues on various related topics. The discussion mainly focuses upon:
- Who will control the business?
- How much expenses are pending?
- Is there any kind of hidden asset?
- Do you need to dissolve the business?
Many more things are needed to be considered for the benefits of the business as well as future of the spouses.