The experiences of people going through a divorce can be different. And the differences can be major for people going through a high-asset one. Therefore, if your divorce involves high-value assets, you should be ready for a complicated process.
Here are factors that can make it so:
Asset valuation issues
The valuation of assets in a high-asset divorce is typically similar to any other type of divorce. The difference is that high-asset ones usually involve complex properties like real estate, jewelry, businesses, stocks and bonds, digital assets and so on.
The value of most of these assets keeps fluctuating. Besides, it can be difficult to tell the value of some, such as collectibles and jewelry. It may be necessary to work with specialists to get accurate values, considering crucial factors, such as market conditions, intellectual property rights, potential risks/liabilities of each asset and potential growth.
High-asset divorces sometimes involve third parties who may be affected by the property division process. For example, if you have a business partner, they will be concerned, as property division may affect your ownership of the business, which may, in turn, impact operations. Further, if you share generational financial interests with your siblings, they may be affected by the outcome of your asset division process, which can prompt additional legal motions.
Properties in different jurisdictions
If you have marital property outside the state or the country, you may have to follow the laws of the particular region. Each jurisdiction may subject you to a new divorce code.
High-asset divorces can be difficult due to the above-discussed factors. It will be best to get legal guidance to make informed decisions throughout your divorce to make your process more manageable.