In this article, we are going to discuss the relationship between complex finances and high net worth divorce. The divorce process is never easy, but can become even more difficult when you and your spouse have accrued many assets (high net worth divorce) during your marriage and have a diverse financial portfolio that could encompass any or all of the following:
- Partnership interests, whether you are an active participant or just a passive investor;
- Retirement accounts like pensions, 401Ks, 403Bs, SEPs, IRAs, or Roth IRAs;
- Employer incentive programs like stock options, restricted stock awards, ESSOPs, and incentive bonuses;
- Intellectual property like patents or copyrights;
- Significant and valuable collections of art, guns, coins, baseball cards or stamps among other things;
- Horses, cattle or other livestock.
Complex Finances and High Net Worth Divorce
When there is a lot of money and/or assets at stake and are complex, an accurate accounting and appraisal of these assets is essential and having an attorney who is familiar with a high net worth divorce that includes a variety of assets and investments, how they work, and the financial ramifications associated the division of the same will help to ensure a fair and equitable result at the conclusion of your divorce.
Much of the valuation and investigative process in complex finances and high net worth divorce is undertaken by a network of financial professionals, such as forensic accountants, appraisers, vocational experts, and business valuation professionals. In such cases, preparation and presentation of the underlying case to experts in highly specialized areas are intrinsically important.
To be effective, your divorce attorney must be familiar with, and understand a wide variety of legal and financial issues, and possess access to top experts in the fields necessary to decipher and unravel complex financial situations. In fact, many times the financial side of high-net-worth divorce will be decided based on what these experts are able to find.
This is so important that many times the entire financial side of your divorce boils down to a battle of these experts, and what they are able to uncover.
If you find yourself, a friend or a loved one are in need of family law assistance and help protecting your assets, please call OWENS & PERKINS at 480.994.8824 to schedule your free 30 minute consultation.