Every marriage is unique, which means that every divorce is unique as well. Many divorces will deal with similar issues, such as child custody and visitation, child support, alimony and asset division, but the final determination for each issue depends on the circumstances of each divorce. Children have different needs and parents have different schedules, and the main factor that affects the financial aspects of a divorce is the wealth of the couple.
High-asset divorces are oftentimes much more complicated than divorces for couples with fewer assets. Not only are their more assets to divide, but the types of assets can be complicated to divide as well. Usually, this is because the couple needs to first value the assets, which can include multiple properties, various bank accounts, investments, retirement accounts, collectables and many other assets. So, the couple may need to utilize professionals, such as forensic accountants, business appraisers and people to determine the value of collectibles.
Then, once the couple determines the value of all their assets, they can begin to divide them and figure out how they will transfer the various assets between the parties. In addition to the complications of valuing and dividing the assets, these couples may want to try to keep the specifics of the divorce private. So, it is important that the various people involved in the divorce are able to do that and there are various strategies to ensure that occurs.
At our law firm, we have handled many of these divorces and understand how to navigate couples through the complexities. For more information, please visit the high net worth divorce page on our website.