What Should I Consider During my High Asset Divorce?
On behalf of The Law Offices of Cindy D. Sackrin posted in Divorce on Friday, March 25, 2016.
Any divorce can quickly become complex, but a high-asset divorce may have certain special complexities. Couples going through a high asset divorce may wonder what to expect and what are some important considerations they should pay attention to during their high asset divorce.
At times, including during a high asset divorce, couples can allow emotions, acrimony and disputes to cloud the decision-making process. As a result, it may be helpful to enlist the assistance of independent valuations to accurately value the couple's holdings and assets absent an emotional interest. An independent valuation expert will use commonly accepted methods of valuing holdings and assets that can help minimize disputes and advance fairness during a high asset divorce. Different experts may be able to help value various interests the spouses may hold in various businesses, or help valuate investments.
There can also be important consequences to consider when property is divided during a high asset divorce. It is important to be fully aware of the assets the couple shares. It is also important to understand the potential value of life insurance. Insurance and trust experts may be needed to determine how to equitably divide life insurance. It is also important to thoughtfully evaluate the couple's lifestyle, which can be especially important if one spouse earned more than the other during the marriage. Forensic accounting experts can be helpful in that regard. Considerations such as the division of assets or alimony may lead to fairer outcomes when properly understood.
Taking a broad look a high asset divorce, including the couple's assets and holdings, and a broad overview and accounting, can potentially help resolve a high asset divorce more peacefully. With the right knowledge and understanding of the process, a couple can more easily resolve their high asset divorce and allow their family to move forward.
Source: Forbes, "Getting The Most From A High-Dollar Divorce," Russ Alan Prince, Dec. 1, 2014