Property division is always a major factor in divorces. For some couples, this determination is relatively simple, as they may not have many assets or even own a house together. However, for couples with a high net worth, property division may be exponentially more complex. Because there is so much on the line, it is especially important that you consult with an experienced attorney if you are considering divorce and you have significant assets.
Some assets that may be at issue in a high net worth divorce include:
- Real property, including the primary residence, real estate properties, and vacation homes.
- Personal property, such as motor vehicles, recreational vehicles, jewelry, art collections, antiques, furniture, and more.
- Bank accounts
- Business entities
- Stocks or corporate stock options
- Investments, which may be interstate or international
- Retirement accounts
In order to ensure an equitable division of the above assets, a couple must first determine the value of all of those assets. This may be quite the endeavor, as a couple may have property, investments, and other assets all over the world. Furthermore, valuation of assets may be difficult because one spouse may attempt to hide certain assets, may have overseas accounts, or may have concealed certain sources of income from tax returns. For these reasons, valuation in high net worth divorces often requires the assistance of financial experts. An experienced high asset divorce attorney knows which experts are reliable and cost effective in order to ensure you receive a fair division of property.
Additionally, property division can be directly related to spousal support payments for the spouse who has less earning power. An experienced Virginia divorce lawyer can help you decide whether it is in your best interest to receive higher alimony payments and less property, or vice versa. An attorney can help to make sure your current high standard of living is preserved following a divorce.
Many couples with a high net worth also do not want details of their financial matters exposed to the public. The Law Offices of Raymond B. Benzinger will handle your high assets divorce with discretion and respect for your privacy. If you are facing a high net worth divorce, call (703) 312-0410 to schedule a consultation with Raymond Benzinger today.