Property division is one of the most difficult issues in divorce cases, and it increases when the volume and value of assets increase. If you and your partner are considering divorce and there are valuable and/or high net worths involved, you’ll need to consult an attorney.
Complex Property Valuation
When the marital estate contains a high volume of assets such as business properties or investments, you must get in contact with an attorney experienced in high net worth divorce cases.
An attorney with this sort of experience can help you value and divide:
- Restricted stock or stock options: if stock options were provided during the marriage, they must be included in the division of property, regardless of who got them.
- Retirement accounts and pension plans: the portion of the pension acquired during the marriage must be included in the division of property.
- Executive benefits: if either spouse had an executive benefit plan, it must be included in the assets acquired during the marriage.
- Multiple homes: multiple homes or vacation homes must be valued and divided.
- Businesses: if a business is family-owned or purchased during the marriage, it is considered community property.
A high net worth divorce could also require a special asset evaluation. Generally, this can be achieved with the help of a forensic accountant. A forensic accountant is someone who investigates valuable assets, financial statements, and bank accounts for legal purposes.
If you and/or your partner have a lot of valuable investments and properties, a forensic accountant can carefully examine every piece of property for the most precise assessment of which property should go to each spouse.
Due to the complicated nature of a high net worth divorce, the proceedings can take quite a bit longer than the average divorce. Things can be further complicated if one spouse is seeking some sort of alimony or child support from the other.
It is not unusual for high net worth divorce cases to last months, or even years. Due to this chance, couples going through a high net worth divorce have more incentive to negotiate the terms of the divorce on their terms.
Providing Sound Counsel in High Net Worth Divorce
Our attorneys are well-versed in the complexities of this type of divorce. We can effectively resolve difficult challenges and will do everything we can to reach a fair resolution.
Call our firm today at (281) 612-5443 or contact us online to schedule your consultation.