If you are considering a high asset divorce, it is important to understand what that means. A high asset divorce involves significant assets and complications, such as contested divorce issues. This type of divorce can be very contentious, and it is important to have an experienced advocate on your side. In this blog post, our high asset divorce attorney at The Law Offices of Jonny Kousa, P.L. will discuss the definition of a high asset divorce and explore some of the common issues that may arise during this process.
What is a High Asset Divorce?
A high asset divorce is a divorce in which the divorcing couple owns a significant amount of assets, often valued at over $1,000,000. These assets can include high-value property, such as a home or vacation home, investments, retirement accounts, and businesses. In addition to these high-value assets, a high asset divorce may also involve complications, such as contested divorce issues.
Contested divorce issues are those in which the divorcing couple cannot agree on one or more aspects of the divorce, such as child custody, division of assets, or spousal support. These issues can often be complex and contentious, and they may require the assistance of an experienced high asset divorce attorney to resolve.
Common Complications of a High Asset Divorce
As mentioned above, high asset divorces often involve complications, such as contested divorce issues. In addition to these complications, high asset divorces may also involve:
- Hidden assets: One spouse may attempt to hide assets from the other to keep them out of the divorce settlement. This can be a difficult issue to resolve without the assistance of an experienced high asset divorce attorney and a specialist such as a forensic accountant. If assets are found to be hidden during the divorce process, the individual responsible will be held accountable, which can largely affect the assets they exit their marriage with.
- Valuation of assets: High-value assets, such as businesses or investments, can be difficult to determine an exact value. This can often be a contentious issue in a high asset divorce, as both spouses may wish to retain certain high-valued assets.
- Spousal support: In a high asset divorce, one spouse may be ordered to pay spousal support to the other. This can be a complex issue, and it is important to have an experienced high asset divorce attorney on your side to ensure that you receive the spousal support you are entitled to.
- Child custody and support: If you share children with your spouse, you will need to create a parenting plan and time-sharing schedule for your family that is in your children’s best interests. You will also need to establish child support for the financial upbringing of your children. Child custody and support orders can often be a source of conflict for a divorcing couple, as they may have different ideas on what would be best for their children.
Why You Need an Experienced High Asset Divorce Attorney
If you are considering a high asset divorce, it is important to have an experienced high asset divorce attorney on your side. An experienced high asset divorce attorney will be familiar with the complications that may arise in a high asset divorce and will be prepared to advocate for you and your family’s best interests.
While it is possible to hire a divorce attorney who does not have experience handling high asset divorces, an experienced high asset divorce attorney will have firsthand knowledge regarding handling complex assets and contested issues. This can help you exit your marriage with a favorable outcome and protect your family’s interests.
Nothing Is More Important Than Your Loved Ones
Undergoing a high asset divorce can be an overwhelming experience. Our high asset divorce attorney at The Law Offices of Jonny Kousa, P.L. will be here to lend a guiding hand throughout the process, helping you and your loved ones begin your next chapter.