Ending your marriage is painful and complicated. The situation becomes even more complex if you face a high-asset divorce. Your case will have unique circumstances, and you must take extra precautions to protect your assets.
Before undertaking one, ensure you know the facts about high-asset divorces. Then, ensure you are facing one and know what to do next. Here are some points to help you understand this situation.
Are you facing a high-asset divorce?
The value of the assets you accumulated during your marriage determines whether you have this type of divorce case. Generally, multiple homes, bonds, investments, cars and businesses are the markers of this type of divorce. On the other hand, it is probably a regular divorce if you are only worried about dividing a checking account, savings account and home.
If only one partner worked, dividing these assets can get even more complex. Chances are, you will face disagreements during a high-asset divorce.
How do you value and divide assets?
Things like offshore bank accounts, cash and real estate require an expert valuation. Without this, you could end up settling, or the judge could set a division that is not fair. Therefore, you will probably need to call a valuation expert or accountant to value your assets. In this case, spring for one with an excellent reputation. Additionally, you may need to file for temporary orders to keep your ex from withdrawing cash from your shared accounts and uncover hidden assets.
When you face this type of divorce, you want the best outcome for yourself. To get this, you need to understand your situation. Ensure you learn how to protect your assets and resolve your divorce quickly for a desirable outcome.