What Is A High-Asset Divorce?
A high-asset divorce is any divorce in which the marital assets are valued at one million dollars or more. High-asset divorces are typically between couples who own their family home, own luxury cars, or have complex assets such as retirement accounts and investments.
Why Are High-Asset Divorce Cases Difficult?
In general, the more wealth you and your spouse have accrued over the years of your marriage, the more complex the marital estate can become. It requires a longer and more intensive process to identify, value, and divide these assets, especially in cases where disputes have arisen. In some instances, a spouse may have tried to hide assets from the other or may have used, sold, transferred, or squandered assets without the knowledge or consent of the other.
Marital assets can include:
The family home and other real estate holdings, including multi-family properties, unbuilt land, or commercial property
Stock portfolios and other investment accounts
Valuable artwork or other collections
Yachts, boats, and expensive vehicles
Closely-held or family businesses or interests in such businesses
Professionally licensed practices
Retirement accounts, pensions, and deferred compensation
Clients with these types of assets can include high-level executives, CEOs, doctors, celebrities, athletes, and others. In such cases, the process of dividing and distributing marital property may include investigations to find and identify hidden assets, recovery of assets that may have been wrongfully gifted, valuing or appraising assets, conducting forensic audits, and more. These cases may also be impacted by prenuptial agreements that must be evaluated and/or enforced. The process may involve expert study, advice, and reporting, such as from forensic accountants, appraisers, and other professional advisors.
Fairly dividing and distributing such complex assets can be a lengthy and intricate process. While our firm will always make an attempt to help you resolve your high-asset case as amicably as possible, such as through mediation or collaborative divorce, it may take courtroom litigation to get a fair outcome.
Fearless Legal Representation for High-Asset Cases
Unfortunately, the greater your wealth and the more assets you have, the more is at stake and the more there is to consider in resolving your divorce. At Jennifer L. Fiola Law Firm, we are here to give you the advice and guidance you need throughout the divorce process. We thoroughly understand the issues you face and, through exhaustive preparation and aggressive advocacy, can provide the support you need during this critical time.
See original article here: https://www.heldlawfirm.com/divorce/high-asset-divorce/