When divorce rears its ugly head in an otherwise perfect union, a myriad of challenges are bound to come up especially if the couple in question have high-value assets in their names. Divorce is already difficult to start with without throwing another spanner in the works in the name of asset distribution. The court system tries, within the confines of the law, to ensure that both parties involved in the high-asset divorce receive an equal and fair amount of the matrimonial property that was acquired during their marriage.

Criteria for High-Asset Divorce

What constitutes a divorce being termed as high-asset? You might ask. A general rule of thumb is that the divorcing couple should at least have a net value of more than $ 6 million in assets. If one of the parties is also listed as an heir to an inheritance, that is also taken into consideration. Purchasing and owning, at the time of divorce, a big portfolio of property estates will also land you in this divorce bracket. In normal divorce cases, asset valuation is a fairly easy task as there is little or no assets to divide. With high-asset cases, it’s a whole different ball game. Some of the assets in question are difficult to evaluate. Antiques, rear artwork and large numbers of stocks in different businesses are good examples. Tax implications that come with such divorce settlements have to be considered as well.

Asset Valuation and family lawyer fees

It’s important to undertake valuation of your property. After valuation, the process will help you identify the amount of alimony that you have to pay. The valuation will also help you and your family lawyer determine the amount of money that you should pay to your spouse as spousal support. In most cases, high-asset cases cost a lot of money in terms of litigation fees. To be prepared the amount of money that you should prepare to spend on the case, you should first discuss the issue with your lawyer prior to the filing of the case. A proper valuation can also be used by the court to order one of the parties to pay a substantial amount of the attorney’s fees.

Conclusion

A divorce case involving a lot of money and assets is complex and can sometimes turn ugly. To increase your chances of getting a favorable hearing you should work with a divorce lawyer experienced in high asset cases to guide you through the process.