During divorce proceedings, the division of the marital estate is a critical aspect. The marital estate encompasses assets and debts accrued during the marriage, as well as premarital assets whose value increased due to your contributions during the marriage. Big or small, the court aims to divide all marital estates equitably, typically following a 50/50 split.
Valuing the marital estate is our initial task, the process of which can be intricate, especially when dealing with numerous high-value or difficult-to-value assets. The complexity certainly escalates when one or both spouses own businesses or professional practices. Valuing and dividing these assets requires specialized knowledge. To provide the court with accurate estimations, we may enlist experts who can determine the value of businesses, unique and special property, real estate, and more. Once values are determined, various strategies may be explored to ensure a fair distribution, including buyouts or other equitable arrangements.
In high asset divorces, concerns about asset protection and potential concealment of assets are common. To address these issues and ensure transparency in property division, we may enlist forensic accountants and investigators. Their expertise can be crucial in uncovering hidden assets and facilitating a fair and transparent distribution of property.
Overall, navigating the division of assets in a high asset divorce demands meticulous attention to detail, expert evaluation, and proactive measures to safeguard each party’s interests and ensure an equitable outcome. Jess Law has the experience and resources to help.