Getting a divorce when you and/or your spouse have an extremely high net worth introduces many potential problems. A spouse may have few financial resources and feel concerned about making ends meet after the divorce or believe that you’re trying to hide valuable assets. A spouse may also feel that the other spouse is attempting to take more than their share of the marital estate or worry about losing one or more businesses.
These are just some of the possible financial concerns unique to high-asset divorces that may make things contentious.
Can financial experts assure a fair property settlement?
In many New York high-asset divorce cases, financial experts have filled a critical role. They can assign accurate values to business holdings and provide additional financial guidance throughout the divorce. Other potential advantages of using financial professionals when divorcing include:
- Forensic accountants can investigate whether your spouse is hiding assets
- Appraisers can help you uncover the accurate value of art or jewelry collections and other potentially valuable assets.
- Retirement experts can help you get a share of retirement account assets while avoiding unwanted tax implications.
- In evaluating any claim for spousal support, vocational evaluators help determine the earning capacity of the spouse seeking support based on age, education, skills and previous experience.
We suggest speaking with your legal counsel about these issues. They can recommend reputable individuals or agencies to assist with your divorce. It is also wise to learn more about dividing marital property in a New York high-asset divorce from an experienced attorney.