Focused Family Law Advocacy In Tuscaloosa And Surrounding Counties

Intangible assets could play a significant role in a divorce

On Behalf of | Oct 17, 2022 | Divorce |

There may be many couples who accumulate a significant portion of assets and wealth over the course of a marriage. When couples in Alabama decide to take separate paths in life, they might have questions about how the process will unfold and about every factor to consider when preparing for what comes next. Those who maintain considerable wealth might find it beneficial to address the topic of intangible assets, as these could have a substantial impact on the outcome of their situations. 

Possible types of intangible assets 

Intangible assets can take on numerous forms, including anything from a company brand to trademarks and patents on unique creations. Such assets may exist under the ownership of a business or a person and defining ownership of such possessions can be somewhat complex at times. While intangible assets created prior to a marriage may retain their separate identity in some situations, any assets that are deemed marital property could play a significant role during property division negotiations. 

Determining whether intangible assets are marital or separate property might not be the only concern, as the nature of such assets may act to complicate the asset valuation process. While obtaining the proper value of assets such as patents and copyrights can be complex enough as is, the parties involved may also have different opinions about what such possessions are worth and how important they are to their futures. Intangible assets that are tied to business holdings such as brand names and logos may also prove difficult to value. 

Dividing intangible assets 

It may come as no surprise that the notion of dividing intangible assets in a divorce can be a stressful and daunting concept. Individuals in Alabama who hold considerable wealth in intangible possessions and wish to seek insight on how best to address such topics might benefit from retaining the services of an attorney for guidance. An attorney can help a client create a strategy for legal proceedings that best aligns with his or her preferences and needs and assist in navigating every step of the subsequent process.