As emotions run high and life undergoes significant changes during a divorce, it's easy to overlook essential steps in the legal process. One of these critical steps is getting an accurate appraisal for marital and investment properties. At Ames Law Group, we understand the importance of this early action and the significant impact it can have on the equitable distribution of assets.
Why the Rush?
Time is of the essence when it comes to appraising properties during a divorce. Residential properties, in particular, tend to appreciate over time, and a delay in obtaining an appraisal can result in substantial financial losses. Each passing day could mean thousands of dollars added to the value of the property, potentially leading to an unfair division of assets.
By getting an appraisal as soon as possible, without making any alterations or improvements to the property, both parties can gain a clear understanding of its true value. This ensures that the division of equity is as fair and equitable as possible, minimizing disputes and ensuring a smoother legal process.
Preserving Financial Records: A Vital Step
In addition to obtaining property appraisals, preserving financial records is crucial during divorce proceedings. Statements from home equity lines of credit, mortgages, bank accounts, credit cards, and other financial assets from the time of separation are essential for equitable distribution.
These records provide a comprehensive overview of each party's financial situation and are invaluable in resolving disputes over asset division. By preserving these documents from the onset of separation, individuals can safeguard their financial interests and ensure a fair outcome in divorce settlements.
Why Choose Ames Law Group?
If you're facing a divorce matter in New York City (any of the five boroughs), Eastern Pennsylvania, or the state of New Jersey, Ames Law Group is here to help. Our experienced attorney understands the complexities of divorce proceedings and is dedicated to providing personalized legal solutions tailored to your unique situation.
Contact Ames Law Group today for a free half-hour consultation. We are ready to guide you through the legal process and advocate for your best interests every step of the way. Don't wait until it's too late—take control of your future today with Ames Law Group.