Contributing to the Complexity
High-asset divorces are often incredibly complex due to the presence of large amounts of assets of various types. There are several types of assets that can be more commonly found in high-asset cases, and these assets lend their own unique complications to the entirety of the case.
Here are several assets that can be found in high-asset divorce cases.
Our world is gaining more digital assets that are becoming increasingly valuable, and these digital assets can create unique issues in high-asset cases. Assets such as cryptocurrencies and non-fungible tokens are not physical assets, meaning these have the potential to be hidden from a spouse more easily and can be difficult to trace.
While it’s common in any divorce to have to determine which spouse gets the house, high-asset divorces often involve multiple pieces of real estate that might go beyond the family home. It’s common to see condos, land developments, and vacation homes up for division in a high-asset case.
Stocks and Other Investments
Stocks, shares, investments in mutual funds, and other financial ventures can be difficult to divide if one spouse does not hold an investment account. In addition, because the market fluctuates so often and quickly, it can be difficult to place a value on an investment such as this at a given point in time.
While owning a business might sound like a dream for some, for others going through a high-asset divorce, it can become a bit of a headache. Businesses started while a couple was married are community property and are up for division in a divorce, and any business up for division must be accurately valued. Valuing a business can be difficult without the right people working with you and requires knowledge of the business’ cash, other assets, debts, and similar issues.
Work with a High-Asset Divorce Attorney
Because of the complexity surrounding high-asset divorces, it’s important to work with a divorce attorney who specializes in these types of cases. Special knowledge of the issues complicating high-asset divorces is required to handle these cases successfully. At Griffith, Young & Lass, our team understands the nature of high-asset divorce along with the importance of protecting what is yours. We work hard to meet our clients’ needs and will do the same for you.