Asset Identification and Valuation
Marital assets under Minnesota law
At the Minneapolis law firm of Katz& Manka, Ltd., we never lose sight of the fact that getting the math right is a critical part of how we can best serve
the interests of our Minnesota family law clients. In fact, our skills with asset identification and valuation are a cornerstone of why other law firms in the
Twin Cities area refer complex divorce cases to our firm.
Equitable distribution based on full and fair valuation
A central part of divorce is identifying, valuing and dividing the assets acquired during the marriage. Complete information about the extent and value of
the assets is necessary for an equitable division of the marital estate.
As part of the discovery process your spouse will be required to sign under oath answers to questions inquiring about marital assets and income, and
possibly be asked to answer them orally in a deposition and provide documents such as:
• Tax returns
• Financial statements
• Investment account records
• Retirement account records
• Banking records
The family law attorneys at Katz & Manka, Ltd. are known for their skills at obtaining and analyzing information and for their meticulous attention to
detail which may find assets not previously disclosed.
When a business is part of the divorce proceedings
Katz & Manka, Ltd. is highly respected for our attorneys’ ability to determine the value of businesses that can be part of marital property. Many times
these are the most valuable marital assets. Challenges to identifying these assets means:
Sometimes it is necessary to retain an outside accountant to help determine the fair market value of a closely held family business.
It may also become necessary to retain other experts to value real property or other assets you and your spouse own. We use leading valuation experts
in the country, with specialized skills in valuing certain types of businesses and business assets to help us identify hidden assets.
There are also times when there are two sets of company books and two versions of parties' tax returns which need to be reconciled.
Our attorneys are skilled at analyzing financial statements, tax returns, and banking records and tracking spending to determine discrepancies between
income, spending and assets identified. They will assemble a team of outstanding experts if necessary to ensure that equitable distribution of all
relevant assets is precisely that, e.g., equitable. As the case warrants, we will leave no stone unturned to assure that all assets are accounted for and
fairly valued, even those transferred in anticipation of divorce.
Non-marital assets are those owned by a spouse prior to the marriage, are the passive appreciation of these assets during the marriage or are assets
acquired by gift or inheritance from a third party during the marriage. A party who maintains a non-marital claim has the burden of proof of establishing
that assets owned at the time of the divorce are readily traceable to a non-marital source.
The lawyers at Katz & Manka, Ltd. know what documents are necessary to prove or disprove a non-marital claim, and we are skilled at analyzing the
strengths and weaknesses of claims presented to us by the other spouse.