Division of marital property is often the most contentious aspect of a divorce. If your financial portfolio is complex, you need to identify and secure your assets immediately. Time is of the essence when it comes to protecting high-value assets in a divorce case.
A lot can happen between the time you file or are served with a divorce petition and when your case goes to court. For example, your spouse may try to empty bank accounts, unload investments, or tap into retirement funds. Your spouse may also try to hide assets by moving funds between accounts or establishing trusts in the names of children or third parties. Your spouse may attempt to access assets before you have a chance to secure them.
Hasty tactics like these do have legal consequences. It would be best if you spoke with a qualified divorce lawyer right away for assistance on the appropriate ways to shelter your assets during a divorce.
Identify and secure your high-value assets
Identifying which high-value assets may be included in the equitable division of marital property can be tricky. Individuals with a high net worth often have multiple accounts in multiple jurisdictions, and in some cases, international holdings.
The following items are considered part of the marital estate and subject to equitable division:
- Stock options
- Deferred compensation
- Business holdings
- Retirement accounts (401ks, IRAs, pensions)
- Insurance policies
- Real estate (both residential and commercial)
- Family Property (art collections, family heirlooms, jewelry)
- Trust Assets
Reviewing financial portfolios requires great care and attention to detail. An experienced divorce lawyer can guide you through this process and consult with experts on taxation, business valuation, and forensic accounting to support your case. These steps are vital to positioning you to receive the best possible settlement.
High asset divorce presents challenges, but you don’t have to face them alone. Sauls Law Group is ready to represent your interests and safeguard your assets aggressively. Contact us today at (770) 212-9168 for a consultation.
