Some married couples in White Plains who decide to divorce might be surprised at exactly how much value they have in their marital assets. Owning a home, multiple vehicles, retirement accounts, savings accounts, stocks, possibly a business and perhaps other luxury items such as a vacation home, a boat, artwork or jewelry can add up. In fact, many people may not even realize until they decide to end their marriage that they are facing a high-asset divorce.
Is a high-asset divorce any different than other divorces? In essence, all divorces have some commonalities. If there are children, child custody and support those issues will need to be addressed. Sometimes spousal support will be awarded. And, no matter what a couple's worth, their marital property must be divided. This is a high-stakes endeavor if the couple shares a significant amount of assets, as they may in a high-asset divorce.
Property division can affect a person's entire financial future, especially in a high-asset divorce. This is when having the right information can be essential. At our law firm, we understand the complexities in a high-asset divorce. We understand that an appropriate valuation of all assets must be ascertained. We also understand that oftentimes couples in a high-asset divorce want to keep things as confidential as possible, meaning that it may be preferable to mediate the divorce or utilize the collaborative divorce process, rather than go through litigation. We aim to ensure that a fair and appropriate distribution of marital assets is reached.
People going through a high-asset divorce may have many questions about property division and how it will affect their financial futures. With the right information, these people can make informed decisions.