During divorce, all marital property must be divided. The manner in which property is divided can have lasting financial impacts on both parties. When family farms or agricultural lands are involved, the stakes are even higher. Courts will rarely divide a farm during the divorce process. Instead, one spouse may keep the farm and forgo other marital assets in order to make the division fair.
When making property division determinations, the value of each marital asset must be determined. Farmland valuation is particularly complex. The land itself, the value of structures and the value of machinery, other farming equipment, crops and livestock must be established. Depreciation must be taken into account and the value of any futures contracts must also be determined.
Inherited property is excluded from the marital estate. If you inherited farmland during your marriage, we will fight to have it removed from the marital estate and keep it off the bargaining table.
At The Law Offices of Mark R. Hinshaw, our Des Moines divorce lawyers are well-versed in the nuances of farmland valuation and asset protection. We work closely with outside financial professionals, including forensic accountants, CPAs, land appraisers and cash flow experts to accurately value our clients' farm and agricultural lands. Once we understand the value of the marital estate, we are able to negotiate property division agreements that protect our clients' farming properties.
It is in your best interests to consult with experienced attorneys who know the law and know how to protect your farming and agricultural properties during divorce. At The Law Offices of Mark R. Hinshaw, we help clients keep family farms in the family. Located in West Des Moines, our divorce attorneys provide clients with the strong, effective legal representation during the divorce process.
Contact us to reach The Law Offices of Mark R. Hinshaw at (515) 200-7571. Consultations are free.