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Divorce issues for couples with high assets

Monday, July 16, 2018

While any divorce is going to be challenging for both parties involved, it is perhaps exacerbated when large assets are involved. Texas residents understand that different types of divorce mean different divorce issues, particularly for those splitting millions or even billions in assets. However, there are several ways for individuals in this situation to avoid costly errors that could end up drastically impacting their settlement. 

It is not always easy to get a correct valuation on certain assets, so it can be beneficial for high-asset couples to seek outside assistance in determining an accurate count on their individual and marital holdings. Valuation experts are focused on objectively assessing holdings based on current best practices. Reviewing this information is critical in ensuring a fair settlement for both parties.

Another area that often goes under-scrutinized is life insurance, which is often not considered an asset in the strictest sense by couples going through divorce. It is regularly (and falsely) lumped in with other forms of insurance when, in fact, it is considered an asset in the eyes of the law. Once again, requesting the support of a knowledgeable third party can go a long ways toward dividing such an asset correctly. 

High-asset divorce brings about unique issues with which not every Texas resident may identify. However, whether a couple is living in a mansion or a duplex, the complexity of asset division can be daunting. Seeking guidance and support in working through these divorce issues can make all the difference in the world when it comes to reaching a a fair and comprehensive settlement. 

Source: Forbes, "Getting The Most From A High-Dollar Divorce", Russ Alan Prince, Dec. 1, 2014

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