Columbus Complex Asset Attorney
The Dougherty, Hanneman & Snedaker, LLC (“DHS”) law firm regularly handles cases involving complex assets. Complex assets are assets that present complex or unusual legal or financial issues. These assets include business interests, professional practices, pension plans and retirement plans. Complex assets may be extremely valuable.
Business Interests
The law firm frequently handles cases involving various types of business interests. An individual may be the sole owner of a business or be a co-owner of a business. A business may operate directly or may operate using a legal entity. Such legal entities include corporations, partnerships, and limited liability companies (LLCs).
Professional Practices
DHS often handles cases involving professional practices. A professional practice is a business operated by one or more individuals who have specialized education and credentials in a particular area. Examples of professional practices include businesses involving doctors, dentists, lawyers, psychologists, accountants, and other licensed or certified professionals. These businesses may operate directly or by using a legal entity.
Pension Plans and Retirement Plans
Many cases involve one or more pension plans or retirement plans. Generally, pension plans provide funds to an individual who has reached a certain age and has met other conditions. There are many different types of pension and retirement plans. These plans are extremely varied and complicated. A plan may be provided by a private employer, a public employer (for example, a state or federal government or agency), or even a private individual. Special state and federal laws frequently apply regarding the division of these assets.
Social Security Benefits
A court may treat present and/or future Social Security benefits as a marital asset. The law regarding how to handle these benefits is relatively new and developing. Generally, if a party is already receiving benefits, or if a party will receive benefits in the near future, a court is more likely to consider the benefits to be marital property and to divide the benefits accordingly.
Real Estate
An interest in real estate may be a complex asset. Even the typical marital home may present complicated ownership, tax and separate property issues. Second homes and time-share properties present special tax issues. Real estate located in other states and other countries present special problems. Likewise, joint interests, future interests and other non-standard interests are complex assets.
Other Complex Assets
Many other complex assets exist. Some employment benefits, like accrued vacation time, personal time or sick leave, may be divided. Interests in patents, copyrights and other types of intellectual property must be divided. Contract rights and interests in pending or potential lawsuits are assets. Essentially, any interest in any type of property, and any contractual or other legal right, may constitute an asset that must be divided in a divorce or dissolution.
Sale of Assets
Rather than awarding an asset to one party or the other, a court may order the sale of the asset. If the court orders the sale of an asset, additional issues arise including:
- What type of sale shall occur – private sale, broker listing, auction, etc.?
- What are the conditions of the sale – price, possession date, etc.?
- How will the expenses of the sale be paid – broker’s fees, auctioneer’s fees, closing costs, taxes, etc?
- How will the proceeds from the sale be distributed?
Success Stories
The DHS law firm attorneys have produced successful outcomes for many family law clients. Please click here to read about success stories that reflect various family law issues. Perhaps you will see your marital issues reflected in one or more of these brief stories.
Contact Us
Please contact DHS for a confidential consultation with Attorneys Dougherty, Hanneman or Snedaker. Each is an Ohio State Bar Association Certified Specialist in Family Relations Law, and they are three of only 106 attorneys in Ohio who have earned this designation as of January 1, 2010.
The law firm is located in a safe, convenient northwest Columbus suburb with free on-site parking. The offices are in a classic redbrick building next to Bravo! Cucina Italiana restaurant on Hayden Road, near the corner of Sawmill Road and Bethel Road, and east of Riverside Drive (state Route 33).
