Going through a divorce is one of the chilling things anyone can experience. It's usually emotionally draining because you must face it head-on and think of how you chart your own path. However, divorce can be more challenging when high-value assets are involved. This happens because everyone wants to get a bigger chunk of their investment vehicles, trusts, businesses, and other high-worth assets. For this reason, it's important to hire a divorce lawyer with immense experience in high-net-worth divorce cases to represent you. Here's why hiring a high-net-worth divorce lawyer is an excellent idea.
They Help You Prepare Financial Documents
Financial documentation is usually necessary when divorcing, mainly when high-net-worth assets are involved. You have to produce the original financial documents and make several copies. Unfortunately, acquiring some of these documents may be daunting without the help of a high-net-worth divorce lawyer. So it's critical to work closely with the lawyer because they ensure equitable distribution of your marital property and assets. They can also suggest what you to do about the property or assets designated as a separate entity. Most spouses miss their fair share when they can't indicate their marital property or prove it exists.
They Help You Get a Reputable Appraiser
Most divorce cases involving high-net-worth assets are challenging to handle because they demand specialized assessments. This helps the spouses know the current value of each high-end asset. And since it's usually a complicated process, ensure you hire a competent appraiser to provide a fair market value appraisal. Even if you had assessed the market value of those assets a few years ago, you might need to get another appraisal because the market might have drastically changed. This way, you get an accurate evaluation so you can know the amount to expect.
They Help Identify Concealed Assets
In most cases, spouses with several high-end assets get tempted to conceal some when they start to experience issues in their marriage. They do so because they don't want to share them with their spouse after divorce. However, a high-net-worth divorce lawyer can help you identify and recover concealed assets. But how can they do it? It's simple! The lawyer looks for a competent forensic accountant to investigate and uncover all the investments and accounts your spouse could be hiding. Once discovered, the divorce lawyer ensures they are appropriately categorized and distributed equally.
For more information, contact a local high-net-worth attorney.