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Suffolk County Valuation Issues Lawyer

Retain the Services of an Experienced & Dedicated Family Law Attorney

In any New York divorce, marital property, assets, and debt must be divided and distributed on an “equitable” level. Equitable does not mean an even split but in a manner that is fair to both parties. When couples cannot agree on what is fair between them, it will be left up to the courts to decide. Courts will look at various factors in its determination of what is fair. This can be a complicated matter that will require an examination of the spouses’ ages, health, earnings in the past, earning capacity for the future, what each spouse has contributed (or squandered) to the marriage and its financial condition, and much more. Further complicating this matter is how to value property and assets, such as businesses, business interests, valuable artwork, antiques, and more.

Valuation issues that are extremely complicated typically arise in high net worth divorce cases. However, they can also complicate even less affluent families. Either way, representation by an experienced family law attorney is paramount if you wish to ensure that your legal rights are protected and the best possible division is arranged. You may need the resources of a law firm that can provide reliable experts to locate and value marital assets properly so that the issue can be resolved through mutual agreement or by court decision.

Need legal help valuing marital assets or businesses? Phone Simon Law Group, PLLC at (631) 237-9525 or reach out through our online request form to arrange for a complimentary consultation today.

Valuation Issues in New York

Marital property that must be divided equitably in a separation or divorce can involve any kind of asset that was accrued by the couple after the date of their marriage. Examples include:

  • The marital home
  • Other real estate, such as vacation homes, rental homes, raw land, apartment buildings or commercial properties
  • Bank accounts
  • Stock portfolios
  • Pensions and IRAs and other retirement accounts
  • Family-owned businesses or business interests
  • Vehicles, including RVs
  • Boats and yachts
  • Antiques and collectibles
  • Artwork
  • Aircraft
  • Assets held in overseas accounts

In some very antagonistic breakups, one spouse may be hiding assets from the other. These assets must be discovered, located, and valued. Valuing assets can also be a complex matter, as in valuing business interests in cases where one spouse works actively in the business to further its success while the other spouse does not.

Once your divorce case has been filed with the court, you will generally be given a date or dates from the court by which each asset must given a valuation. The date by which an asset must be valued may depend on certain factors, such as whether its value is based on passive or active activity. For example, your bank accounts are not directly affected by either spouse’s active contribution. Thus, their date for valuation may be set according to the date of a monthly statement. Contrast that to the date for valuation of a business where your spouse works on a daily and active basis towards increasing its value. These valuation dates may vary widely. Furthermore, the business valuation will require an expert in business valuations while the bank statement will not.

Another crucial factor is that, while a divorce is pending, neither party to the divorce can take actions that might squander, reduce, or entirely wipe out the value of a marital asset. If this is done, that spouse will likely see his or her share of the assets reduced an equivalent dollar amount by the court.

Retain Simon Law Group, PLLC for Marital Property Valuation

Determining the fair market value of any martial property or asset can be a complex matter. First, it must be determined what is marital as opposed to separate property. In some cases, separate property may have been commingled with marital property, further complicating the issue. Valuing business interests can also depend on when the business was established in relationship to the marriage and other factors. Throughout all of these variations, you will need a savvy and diligent attorney who knows how to handle all of the aspects of property valuation so that your rights are protected and your best interests are pursued.

Need legal assistance? Reach out to our Suffolk County valuation issues attorney at (631) 237-9525 today.

Meet Our Attorney

  • Lance  Simon Photo
    Lance Simon

    Founding Attorney

    Attorney Lance Simon founded Simon Law Group, PLLC in Suffolk County, New York in 2011. Having been through two divorces himself and witnessing the toll it took on his children, he started his firm in the hopes of helping others cope with similarly difficult situations. Lance always strives to be straightforward, compassionate, and respectful to his clients while aggressively fighting for them in their time of need. Lance began serving others long before he began practicing law in 2008. He ...
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Testimonials

Former Clients Share Their Experience
  • The most dedicated attorney I have ever met! He truly cares about his clients!

    “Lance Simon is the most dedicated attorney I have ever met! He truly cares about his clients! He applies himself 100%.....determined to win. I would definitely recommend him to family & friends. He ...”

    - Sue
  • He is very dedicated and compassionate. He has been there every step of the way informing me, guiding me and continue being very understanding and patient with me.

    “Mr. Simon is representing me in a custody case. He is always available when I need him. He is very dedicated and compassionate. He has been there every step of the way informing me, guiding me and ...”

    - Former Client
  • I couldn't have asked for a more dedicated concerned and compassionate lawyer!

    “Lance Made a bad situation with visitation & custody easier. He is calm and level headed and makes you feel at ease. I couldn't have asked for a more dedicated concerned and compassionate lawyer!”

    - Kimberly
  • He is very courteous, honest, understanding and compassionate. I appreciate having someone like Mr. Simon in my corner. Great Attorney with a great heart.

    “I have nothing but great things to say about Mr. Simon. I was in need of an attorney for an upcoming court case and I found Mr. Simon on AVVO. Thank Goodness I did because what I didn't know is a few ...”

    - Ty
  • Since that time, I have used Lance for an array of family court matters, each time more satisfied with his quality level of service.

    “In 2012, my ex-husband and I started the divorce process. Having hired a different law firm, my divorce was the most tumultuous, scary and completely hopeless years of my life. Just another number in ...”

    - Carissa
  • Reminding me of the law and steering me away from my emotional attachments to events that were occurring. For that, I am grateful.

    “My divorce began in May 2016 and today it finally culminated in an agreement today. To establish some background, my husband asked for this divorce and although I am 41, my parents were an integral ...”

    - Erica
  • He is available to answer any questions or concerns you may have during the process. Sometimes at the most random early hours of the mornings.

    “Hiring Lance Simon was the BEST decision I could have made, I was in a tunnel and couldn’t see no end in sight with my divorce. After hiring two previous Lawyers to handle my case and getting nowhere ...”

    - Sherri-Ann
  • He cared about me, asked about my goals and learned about my family dynamics -- then he advocated tirelessly for me.

    “Lance brought a warm, personalized approach to my divorce matter. He cared about me, asked about my goals and learned about my family dynamics -- then he advocated tirelessly for me. In the ...”

    - Jennifer
  • He is very courteous, honest, understanding and compassionate. I appreciate having someone like Mr. Simon in my corner.

    “I have nothing but great things to say about Mr. Simon. I was in need of an attorney for an upcoming court case and I found Mr. Simon on AVVO. Thank Goodness I did because what I didn't know is a few ...”

    - Tom
  • He has explained everything he is doing and why he is doing it. I have complete confidence that he has only my best interests in mind.

    “Lance has shown dedication and has handled my divorce as if it were he who getting divorced. He has explained all the ways in which he can protect me monetary wise and in business. He has explained ...”

    - Thomas
  • I couldn't have asked for a more dedicated, concerned and compassionate lawyer!

    “Lance was extremely helpful and efficient in preparing my prenup prior to my wedding! I couldn't have asked for a more dedicated, concerned and compassionate lawyer!”

    - Former Client
  • I can't even explain how you lifted my anxiety and made it go away. Lance kicked ass in court!!!!!

    “I just got divorced this year 2016, and was scared, nervous even anxious. Not because of the divorce, but the thought of an attorney charging me money I don't even have to get divorce. I explained to ...”

    - Former Client
  • He was in constant communication with me and I could reach him at any time. He was always there whenever I needed him.

    “After 10 years of being in and out of the Supreme Court and the family court with my ex-husband, I was beginning to think that the legal system was corrupt. My children and I spent many years being ...”

    - Bonnie
  • You won't be disappointed. His professionalism, respect, and intelligence are three of his best qualities.

    “I had a discrimination suit, and Lance represented me. He was top notch. He took the case on, fought for me, cared about me, worried for the outcome, and refused to settle on anything that wasn't what ...”

    - Former Client
  • He was more worried about me getting to see my son than anything else, he made me feel that it was the #1 priority.

    “I was in a situation, where I had talked to over 50 lawyers who all said “give me thousands of dollars right now or I’m not discussing anything with you” Lance was the only 1 that was different, he ...”

    - Kurt
  • He always discussed and explained everything to me and always asked how my son was doing because he truly cared about his well being through this process.

    “I found Lance searching for a new attorney online and there was something about him that simply stood out. I have had previous attorneys however, I always felt I was just another case and when I ...”

    - Jodi
  • He is very professional and to me most importantly passionate about his job, made me feel safe.

    “I found Mr. Lance Simon through a friend. I needed a new attorney to take over my case. He is very professional and to me most importantly passionate about his job, made me feel safe. Answered all my ...”

    - Rachel
  • He realty cares about your case and will make you comfortable at every turn. What he did for me changed my life and I will be forever in his debt.

    “Lance is without a doubt in charge. If you retain him for your services he will attend to every detail. Cross every t and dot every I. He is smart, attentive, detailed. Prepared. Whatever your issue. ...”

    - Jonas
  • Lance cared sincerely about not only the legal merits of my case but also the human and ethical merits and impact on my life, and I felt that he was in the trenches with me through a difficult life process.

    “Lance represented me in a difficult divorce process over two years through settlement, and then another two years through post-settlement litigation when terms of the settlement were breached by my ...”

    - Jeremy
  • Now I have joint custody and I see my child more than the typical every other weekend that the judicial system gives. I can express my gratitude and thanks enough to Lance for all that he has done.

    “What can I say. Lance helped me through my divorce and custody case. He is an attorney who cares for what is right. He walked me through every step and ensured I understood the whole process. His ...”

    - Will
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