All divorces can be stressful and important to spouses facing a divorce. However, handling divorces with a high asset value has some additional inherent complexities that not all spouses, or even all attorneys, are aware of.
When addressing high asset divorces, there are complicated issues that have to be addressed within alimony, property division, taxes, life insurance, and even child support. In handling such divorces, it often requires the attorney to review a large volume of documentation, particularly financial documents. Because these documents can be highly technical, a knowledgeable divorce attorney typically takes a “team” approach to such divorces, and includes financial professionals in the management of such a divorce. These financial professionals can include a business appraiser, tax professional or accountant, financial planner, forensic economist, and/or certified divorce financial analyst (also known as a CDFA). It is important that your attorney already have a team in place that they have been working with for years.
These professionals can help your attorney work through some very complicated financial issues relating to the divorce, and oftentimes these professionals are also knowledgeable of the law associated with the financial aspects of a divorce. Having these professionals included in your legal team can yield significant financial benefits when negotiating any potential settlement, and also to ensure your rights are protected in a divorce. Given the high value of such a marital estate, it is critical to have such professionals on your side while you progress through a divorce.