If you are going through a divorce as a high asset household, it is likely that the process of asset division will be notably more complex than the average divorce. The more there is to gain in a divorce, the more there is to lose, and this is why high asset divorces tend to be quite competitive. This does not need to be the case, however.
There are many reasons why high asset divorces tend to be more complex than average. By understanding the factors that complicate a divorce, you can take action now to organize your records and accounts, and plan ahead of time. The following are some of the key factors that you should be aware of.
There is an increased likelihood of hidden assets
It is unfortunately common for spouses to hide some assets on offshore accounts or through other methods when they see a divorce coming. Therefore, it is necessary to carry out investigations to uncover these assets so that a fair division can be made.
Enforcing premarital and postmarital agreements can be challenging
It is more likely that a premarital or postmarital agreement will be in place in a high asset divorce. The process of enforcing these can create disputes if there is a contradiction in terms or complex issues to be dealt with.
There are more assets to valuate
Quite simply, a greater number of assets means that more time is spent on valuations of real estate and other property.
If you are concerned about the divorce process in the state of California, an experienced attorney can help you understand your legal rights.