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Although every divorce has its difficulties, high asset divorce cases tend to be substantially more complex than divorces that involve fewer assets. To ensure your interests are protected, it is essential to hire a divorce attorney who has extensive experience in handling such cases. Continue reading to learn more about the common financial issues you may face during your high asset divorce.
Going Through a High Asset Divorce
When spouses have a significant number of assets between them, a divorce can drag on due to the time it takes to accurately valuate assets and determine which is separate and which is marital, among other things.
Here are some common financial issues spouses may encounter during this process:
- Hidden assets: When there are a lot of assets on the line, divorce can get uglier, and spouses may attempt to hide assets. However, given how much you have, you will need a thorough forensic financial audit to account for everything and uncover marital property your spouse may have hidden.
- Maintaining the standard of living: In a standard divorce, issues like alimony and child support are relatively straightforward. In a high asset divorce, these matters can be more complex, especially if one spouse was the primary earner. Both parties will have to work out a compromise that does not deprive either spouse.
- Foreign assets: It is not uncommon for foreign assets to come into play during a high asset divorce. Unfortunately, if any of what you own is tied up in a foreign bank, property, or business, this can result in a much more prolonged divorce.
Ultimately, all of the obstacles you may face during your high asset divorce can lead to a longer process, unless you and your spouse can cooperate and agree on certain key issues.
Learn More About How Our Family Law Team Can Help You!
No matter how complex or straightforward your divorce may be, you can always benefit from hiring an experienced attorney. Legal representation is especially crucial in a high asset divorce case and, at Ford & Friedman, our team has the experience and insight necessary to help you. Our top-rated firm is dedicated to providing tailored legal services and one-on-one support for every client who seeks our help.
Reach out to our legal team today at (702) 904-9898 to request a consultation with one of our attorneys to discuss your high asset divorce case and find out more about what we can do for you.