Find the Right Attorney to Protect Your Assets
One of the most dreaded aspects of divorce is undoubtedly that which revolves around the question of assets. The properties, the finances — what’s going to happen to them? It’s a topic that accounts for the source of many problems in many divorce cases, regardless of what asset are involved and how much they’re worth. Still, it’s probably obvious that the larger the assets, the bigger those potential problems can be.
If you’re in the process of filing for divorce or simply considering the prospect, it’s time to seek legal representation.
Yes, when marital estates are especially valuable they’re also especially hard to untangle. There are two main “areas” within divorce-related considerations that are of particular note when it comes to high asset divorces, and these are alimony and marital property.
Alimony refers to money paid from a higher-earning spouse to their economically disadvantaged spouse. Marital property is the term used to cover any finances, real estate, or other relevant assets acquired throughout the course of the marriage. Both alimony and the division of marital estates come with enormously complicated procedures, so when it comes to high asset divorces, it’s absolutely crucial that the processes be streamlined and thorough.
Tactics For Successful High Asset Divorces
While property division and alimony are noteworthy considerations in all divorces, there are certain aspects that really only come into play with those involving high assets. Examples of these aspects and the strategies used to deal with them include:
- Prenuptial agreements — evaluating whether or not they’re enforceable
- Alimony calculations — specifically the process of evaluating either spouses’ “worth”
- Real estate and the marital residence — determining disposition and value
- Stocks and other investments — determining value
- Retirement accounts — determining the value and assessing the relevance of deferred compensation
- Marital assets — the discovery process
- Improperly gifted marital assets — the recovery process
- Personal businesses — determining value and forensic auditing
Not everything in this list is going to be relevant for every divorce case, even those involving high assets. However, it doesn’t pay to guess about what considerations are and are not relevant. That’s what attorneys are for.
Legal Representation for High Asset Divorces
If you’re in the process of filing for divorce or simply considering the prospect, it’s time to seek legal representation. Divorce on its own has a tendency to be a bit of a nightmare, and it’s pretty much guaranteed that high assets will make matters much more difficult to manage satisfactorily.
Most divorce attorneys offer initial consultations during which clients have to opportunity to ask questions and get a generally feel for the lawyers themselves. In a high asset divorce, you’re going to want experience and testimonies, so the sooner you start on this process, the better your chances of a resolution that’s successful — by your standards.