August 23, 2023

Divorce can be overwhelming. Every divorce is emotionally difficult, every divorce will require a major change, and every divorce will impact your financial situation. However, in a high-asset divorce, the stakes are higher. If you want to protect your financial interests in a high-asset divorce, you need the help of an experienced Toledo divorce lawyer to guide you through the process.

What is a High-Asset Divorce?

Every divorce has assets to divide. What differentiates a high-asset divorce is the number of assets and ultimate net worth of the couple who is separating, whether those assets were obtained individually or as a couple. High-asset divorces usually involve real estate, business interests, stocks, mutual funds, high value pensions or retirement accounts, and complicated tax issues. With substantial investments and numerous assets at stake, both spouse’s financial interests need to be considered carefully, and both parties will benefit from the help of experienced attorneys and financial advisors to make sure they are adequately protected.

How Will Our Assets Be Valued During a Divorce?

Valuation during a high-asset divorce can be a complicated process, especially if there are business interests held by one or both spouses. However, to ensure an equitable split, it is essential that every asset is identified and assigned a value. This will begin with each spouse providing a full and accurate list of all assets. The financial advisors, and in some cases, forensic accountants or appraisers, will assign a value to each asset and determine the worth. In addition, in a high-asset divorce, future earnings from investments, business profits, and appreciation is also considered. There is a high degree of scrutiny and documentation that goes into this process, and each spouse should have a financial expert working with their experienced divorce attorney to ensure that every asset is considered and valued fairly.

Minimizing Conflict in a High-Asset Divorce Can Help Protect Your Financial Interests

When the financial stakes are high, conflict can be high as well. Going through a high-asset divorce can be stressful. You may think that you are only fighting for what is rightfully yours, but when couples in a high-asset divorce have a contentious split, trusted lawyers are invaluable in reaching a fair settlement.

Making a sincere effort to minimize conflict can allow the best possible outcome for everyone involved. One of the best things to remember is to be aware of your rights while still remaining open-minded and willing to compromise. If you and your spouse can go into asset negotiation willing to work together, you can, with your attorneys, arrive at solutions that are beneficial to you both. When you are going through a stressful divorce, especially when there is a lot at stake, it is important to have a support system. Rely on your divorce lawyer to develop a divorce settlement that is fair to you and protects your financial interests, rely on a financial advisor to prepare you for your future, and rely on your network of friends and family for emotional support.

Experienced Toledo Divorce Lawyer

When you have a high-asset divorce, you need a Toledo divorce lawyer who is experienced in cases similar to yours. Your attorney will know the right strategies to use to protect your interests and proactively develop strategies for a fair process that sets you up for financial security.

If you are filing for divorce and have a substantial or complicated financial picture, you need the help of an experienced divorce attorney. Contact my office today.