Although any divorce can have more than a fair share of complications, high-asset divorces are known for their complex nature. Divorcing couples with significant assets have many matters to sort through before completing the divorce.
In some cases, a high-asset divorce may conclude with few or no problems. However, it is wise to prepare for some common financial complications that tend to arise in these situations.
Three examples of complicated financial issues in a high-asset divorce
Understanding what you might expect in your high net worth divorce can help you avoid complications, including these:
- Failing to acquire accurate asset valuation can derail a high-asset divorce. You and your spouse will both benefit from making sure that all your assets receive a proper evaluation.
- Failing to look for and find all assets one spouse attempts to hide can be detrimental to your side of the divorce. Including all your property ensures you get a fair property settlement.
- Failing to include any foreign assets you or your spouse own can also result in an unbalanced property division. Be sure that you review your finances thoroughly to avoid overlooking both foreign and domestic investments.
Although the property division stage of any given divorce can be quite complicated, you can emerge with a fair settlement. For most, it is especially advantageous to work with a lawyer who understands how to overcome the challenges associated with high-asset divorces. Your attorney may also be able to help you find financial advisors, forensic accountants and other professionals who can assist you on your journey forward.