Divorce can throw your thinking process into a whirlwind. There’s so much to consider on an emotional level that it can be difficult to focus your attention.However, if you have a complex financial portfolio, it’s vital that you give this area of your life priority, even in the midst of divorce.
Equitable division of marital property is often one of the most contentious aspects of the divorce process. Therefore, it’s vital that you identify the parts of your portfolio that need protection. An experienced divorce lawyer in Buford, GA can assist you with this and negotiate a favorable settlement on your behalf.
WHY YOU NEED TO IDENTIFY YOUR HIGH VALUE ASSETS IN A DIVORCE CASE
Time is of the essence when it comes to protecting high value assets in your divorce case.
A lot can happen between the time you file or are served with a divorce petition and the time that your case goes before the court. For example, your spouse may attempt to access your assets before you have a chance to secure them. They may try to empty bank accounts, unload investments or tap into retirement funds. Your spouse may also try to hide assets by moving funds between accounts or establishing trusts in the names of children or third parties.
These kind of hasty maneuvers have legal ramifications so it’s best to speak with a qualified divorce lawyer before trying any of them. Your divorce lawyer can also assist you in finding appropriate ways to shelter your assets during a divorce.
WHAT ARE HIGH VALUE ASSETS IN A DIVORCE CASE?
Identifying which high value assets may be included in the equitable division of marital property can be tricky. High net worth individuals often have multiple accounts in multiple jurisdictions and sometimes international holdings.
Generally speaking, the following items are considered part of the marital estate and subject to equitable division:
- Stock options
- Deferred compensation
- Business holdings
- Retirement accounts (401ks, IRAs, pensions)
- Insurance policies
- Real estate (both residential and commercial)
- Family Property (art collections, family heirlooms, jewelry)
- Trust Assets
Sorting out a complex financial portfolio requires great care and attention to detail. An experienced divorce lawyercan guide you in identifying your high value assets. They can also bring in experts on taxation, business valuation and forensic accounting to support your case and position you to receive an optimal final settlement.
High asset divorce presents challenges but you don’t have to face them alone. The divorce lawyers at Oxendine & Sauls, LLC are ready to aggressively represent your interests and safeguard your assets.