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Going through a divorce is difficult, and it is more complex when you have accumulated significant wealth during your marriage. A high asset divorce requires planning and an understanding of your financial situation. If you are seeking to end your marriage, an experienced Snoqualmie high asset divorce lawyer could help you navigate the legal process.
At Twyford Law Office, our skilled divorce attorneys understand the complexities of divorces involving assets of high value. We could thoroughly investigate your case and answer your questions about asset division.
A high asset divorce does not have a legal definition, but it typically occurs when the marital estate is worth over $1 million. The dissolution of a marriage that involves diversified investments, documented income, and no disputed income is not as complex as a divorce involving several businesses, deferred compensation, and diversified real estate holdings.
Professionals often conduct extensive discovery in high asset divorces to ensure they include and account for all assets. If you are contemplating ending your marriage in Snoqualmie and wondering, “Where can I find a divorce attorney near me?” our legal team could help you with your high-net-worth divorce petition.
One common mistake made in a divorce with high assets is undervaluing assets. You need to get a comprehensive overview of all assets that are part of your marriage. After identifying all the assets, properly valuing each asset is important to ensure you receive your share. Experts trained in valuing specific assets must perform the valuations, as a quick appraisal or estimate will usually not suffice. Another common mistake is failing to check the tax consequences of the asset division. When dividing them, the division may seem fair until a tax professional explains the tax consequences of your asset division.
Often during the dissolution of a marriage, people make decisions emotionally. However, you should view a high asset property division more like a business transaction. Although it can be hard for you, sentimental assets, such as keeping the marital home, may become an issue later if you realize you can no longer afford the mortgage payment.
You can also make a mistake by not using a professionally trained team of experts during your divorce. A forensic accountant can trace assets, uncover hidden funds, and analyze tax implications. In addition, a financial planner can help you get an idea of your financial future after the dissolution of the marriage. You may also need an appraiser if you have unique assets such as real estate, art, or jewelry. It is important for you to consult experts to get the best advice on your financial future.
In Snoqualmie, if you are wondering, “Is there a divorce attorney experienced in handling high value assets near me?” our legal counsel at Twyford Law Office could provide the guidance you need.
When filing for a divorce that involves dividing assets of high value, you need to ensure you understand what makes it complicated. A Snoqualmie high asset divorce lawyer could help guide you through the dissolution process when dividing assets.
At Twyford Law Office, our attorney could provide guidance on your legal rights and help you find the experts you need for a divorce involving assets of high value. Contact us today to discuss your case. We could answer your questions and help protect your assets.
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