If the spouses have not signed a prenuptial agreement, they are considered to be living in a matrimonial property regime of joint ownership of accumulated assets as determined by statute.

Cologne, NRW -- (SBWire) -- 06/19/2013 --GRP Rainer Lawyers and Tax Advisors in Cologne, Berlin, Bonn, Bremen, Dusseldorf, Essen, Frankfurt, Hamburg, Hanover, Munich, Nuremberg, Stuttgart and London http://www.grprainer.com/en conclude: If the joint ownership of accumulated assets comes to an end, an equitable distribution of martial property must take place according to the provisions of the German Civil Code (BGB). The gain in assets is calculated to be the value amount of the final assets of the spouses which exceeds the initial value of assets held. The gain, in any case, is represented as a sum amount of money. The sum cannot be negative, and if the calculation of such a gain should be determined to be a negative amount, then a zero should be applied. Such a calculation is completed by using accounting entries of accounts.

The initial assets of the spouses is taken to be those assets which the spouses held upon commencement of the matrimonial property regime of joint ownership of accumulated assets which usually means on the day of marriage. Existing liabilities of the spouses are to be withdrawn from these initial assets.

The amount of final assets is taken to be the amount that remains after deducting existing liabilities of the spouses upon termination of the matrimonial property regime.

As a rule, an equitable distribution must ultimately be determined for the spouse which achieved the lesser asset value during the marriage. Generally, half of the profit of the gain of assets from the other spouse having achieved a higher level of gained assets is due to the spouse having achieved a lower level of gained assets as a compensation claim which tends to be an amount of money. A surplus is calculated by subtracting the lower from the higher added value. The amount of the claim for the equitable distribution of assets is calculated by taking half of the accumulated gain.

It is, however, to be determined freely between the spouses even in the context of divorce proceedings by the conclusion of agreements on equitable distribution of asset gains. These are then required to be notarized or to be recorded by the family court.

In the run-up to the marriage or during the time of marriage, corresponding agreements as to the amount of the equitable distribution can be concluded by the spouses, for example, as a prenuptial agreement or divorce settlement.

A lawyer can help to establish the appropriate asset balance sheets, to calculate the equitable distribution or to make arrangements in advance with regard to the equitable distribution of a gain in assets.

About GRP Rainer LLP
GRP Rainer LLP http://www.grprainer.com/en/ is an international firm of lawyers and tax advisors who are specialists in commercial law. The firm counsels commercial and industrial companies and corporations, as well as associations, small- and mid-sized businesses, self-employed freelancers and private individuals worldwide from offices Cologne, Berlin, Bonn, Dusseldorf, Essen, Frankfurt, Hamburg, Hannover, Munich, Stuttgart, Bremen, Nuremberg and London UK.
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