Obtaining accurate valuations of high-value assets is essential when dividing property. Whether it is a family home, business or other substantial holding, determining the value ensures a fair and equitable distribution.
In Texas, community property laws govern asset division. You must know the actual value of each asset. One party may receive more or less than their fair share without accurate valuations.
Real estate valuation
Hire an appraiser specializing in the local market to assess your real estate holdings. A qualified professional provides an unbiased and precise valuation. Consider factors such as property condition, location and recent comparable sales.
Business valuation
If you own a family business, determining its value requires a comprehensive assessment. Components that contribute to an accurate valuation include:
- Financial records
- Market conditions
- Earning potential
Have a financial expert conduct a thorough analysis to ensure an objective and realistic estimate. Make sure you understand potential tax consequences during and after the division.
Financial assets and investments
Accurate valuations extend beyond tangible assets. You must also assess financial portfolios, investments and retirement accounts. Consult financial professionals or use independent valuation services to get a detailed assessment that reflects the current market conditions and the actual worth of these assets.
The divorce rate for ages 50 and older has more than doubled since 1990. People in this age group often have significant holdings. Obtaining accurate valuations during legal property division in Texas lays the groundwork for a fair distribution of assets. It prevents potential disparities and ensures that you and your spouse receive an appropriate share.
