Protect Your Property In Anchorage With Experienced Asset Distribution Attorneys
At Eschbacher & Eschbacher, our asset distribution attorneys are dedicated to solving problems that emerge from divorce. Our father-and-son team has amassed over 75 combined years of experience in helping families in Alaska navigate what comes next after filing divorce petitions.
Whether you need a skilled negotiator or a tenacious trial advocate, our lawyers can help you and your family secure a future that best suits your needs.
How Equitable Distribution Works In Alaska Divorces
The courts in Alaska handle property division in divorce by applying the equitable distribution doctrine. This method involves a judge fairly splitting a couple’s assets and debts, which may or may not result in an equal distribution. When deciding what is fair, judges consider various factors, including the length of the marriage, the earning capacities of both spouses and each spouse’s conduct during the divorce.
Marital property refers to any asset or debt that a spouse earns, buys or takes on during the marriage. These are what the courts consider during division. Assets and debts a spouse acquired before the marriage are classified as separate property. However, separate property can turn into part of the marital estate if the other spouse contributed labor or marital funds that increased the asset’s actual value.
When A Business And Retirement Account Becomes A Marital Asset
If a spouse started a business or retirement account during the marriage, both spouses typically have a legal claim to its value as marital property. If a business existed before the marriage, the non-owner spouse may still claim a portion of its increased value if that growth resulted from marital contributions or active efforts.
To fairly divide the business, forensic accountants and certified appraisers must determine the worth based on its income, market value and/or assets. Depending on the negotiation between the spouses, they may divide the contested portion through a buyout, sale or co-ownership.
The Importance Of Full Disclosure Of Assets During Divorce
Both spouses should be honest when disclosing assets and debts during divorce. The courts rely on these to fairly divide properties and obligations. If one spouse intentionally hides assets, they can face significant consequences.
If you suspect that your spouse is not disclosing their finances fully, our team can help you start a discovery process. Our asset distribution attorneys will secure permissions to use depositions, subpoenas and requests for production to uncover any assets.
Asset Distribution Attorneys Answer Frequently Asked Questions
Our team offers additional insights on property division in Alaska by answering common queries such as those below.
Is Alaska a community property or equitable distribution state?
Alaska is an equitable distribution state, where courts divide marital assets fairly between spouses. However, the law allows couples to opt in to a community property agreement, which allows them to treat some or all of their assets as community property.
Can I keep an inheritance separate from marital property in a divorce?
Yes, the law treats inheritances as separate property. However, your bequest can lose its protection if you used it for the family or mixed funds with a joint bank account. Our asset distribution attorneys in Alaska can offer solutions to help maintain an inheritance as solely yours.
Will I be awarded a larger share of marital property if my spouse is purposefully dissipating assets?
Yes, a divorce judge can award you a larger share of the marital property if they find that your spouse has been wasting assets. Our lawyers can help you trace and collect evidence that proves unexplained withdrawals and missing money.
Speak With Our Asset Distribution Attorneys. Call Us Today.
At Eschbacher & Eschbacher, our team can help you determine which of your assets and debts are marital property. Give us a call at 866-653-4212 or send an email to schedule an appointment with our lawyers.