Dividing The Home And Family Businesses In A Beneficial Way

During a marriage, spouses work together to build their assets and wealth. Couples may open joint bank accounts, share credit cards and both contribute to mortgage payments and other investments. Unfortunately, during a divorce, all the marital property must be divided equitably between both parties.

Marital property is considered anything that was purchased during the marriage, regardless of which spouse purchased it. Some people think that if their name is the only name on the car title, that the car is theirs. That is incorrect, and the same applies with mortgages and other large assets, including family businesses, pensions, 401(k)s and IRAs.

Because dividing high net-worth estates, multiple properties and family businesses can be confusing, it's important to work with an asset division attorney who can guide you through the process. At White & White, Attorneys at Law, that is exactly what you will find. The firm helps individuals throughout Sevier County, Knox County, Blount County and surrounding counties valuate and divide assets.

We Will Help You Understand The Process

Attorneys Brandon White and Felisha White work closely with clients to help them understand the laws regarding the division of marital assets. They explain what happens before and after the divorce is filed, and they explain the variables that could influence the outcome of the case.

If you own a family business, that may also need to be divided during the divorce. Brandon and Felisha work with outside professionals to do a business valuation and determine what portion of the business each party should be awarded. The firm's experience handling high asset divorce and their work with paralegals means every detail of the asset and business division will be carefully worked out.

Doctors, dentists, accountants, lawyers and other professionals who own their own business can benefit from working with an attorney who has an insider's understanding of family businesses. Contact White & White, Attorneys at Law, online or call 865-622-7768 to schedule your free initial consultation.