West Virginia Divorce Attorney's Guide to Shared Asset Valuation: Strategies, Claims, and Fair Compensation
Understanding Shared Asset Valuation in West Virginia Divorces 🔹 Key Concept: Shared asset valuation determines the worth of marital property to ensure a fair division during divorce proceedings. In West Virginia, marital property includes all assets acquired during the marriage, regardless of which spouse's name is on the title. The goal of equitable distribution is to divide property fairly, though not necessarily equally. Proper valuation is essential to avoid disputes and ensure both parties receive just compensation. Commonly Valued Assets in Divorce 🏠 Real Estate: Homes, rental properties, vacation homes, and undeveloped land must be appraised to establish fair market value. 🚗 Vehicles and Personal Property: Cars, boats, jewelry, and collectibles may require specialized appraisals for accurate valuation. 💰 Financial Accounts: Checking and savings accounts, retirement funds, stocks, bonds, and other investments need a professional financial assessment. 📈 Business Inter...