What Makes High-Asset Divorce Stand Out?
Part of what makes high-asset divorce so complicated is the various types of assets that may be present in the case. While it is possible for some of these assets to be found in a “traditional” divorce, it is more likely to find them in a high-asset case. The nature of these assets and how they may end up divided in a divorce contribute to their complex nature.
Read on to learn about some of the complex assets that can be found in high-asset divorce cases.
Owning a business can present unique challenges when in a divorce. For instance, who owned the business and when it came into their possession is an important consideration; if the spouse who started or bought the business did so at any point during the marriage, then it is up for division in the divorce. In addition, a business must be valued in order for accurate division to occur, and the market on how much a business is worth can fluctuate often, making it difficult to pinpoint an exact market value.
Dividing real estate in a high-asset divorce often goes far beyond just the family home. High-asset divorce often involves multiple pieces of real estate that can range from vacation homes to condominiums to rental properties. Dividing these properties means that the divorcing couple must present documents proving ownership for each, and then division can be challenging if each spouse presents a case for their ownership of the property.
Many high-asset divorces often involve investment accounts such as retirement accounts, stock brokerage accounts, and similar financial institutions. These types of assets can be difficult to place a single value on due to the constant shift in the financial market; one moment a stock could be worth one price, and the next the stock’s price could increase or drop.
The world is becoming increasingly digital, and nonphysical assets such as cryptocurrencies and nonfungible tokens (NFTs) are on the rise. These assets, however, are also incredibly challenging to work through in a divorce. Digital assets require maneuvering through passwords and encryption, and these assets are also becoming increasingly easier to hide, making property division more difficult.
Work with a High-Asset Divorce Attorney
High-asset divorce requires the careful guidance of an attorney who understands the complexities surrounding these assets and other facets of this type of divorce. You need someone by your side who goes beyond the understanding of a traditional divorce attorney. At The Law Office of Jason R. Carpenter, our team is equipped to help you navigate the challenges of high-asset divorce to help you come out on the other side protected and ready for your fresh start.
And for all of your other legal needs, we are here to help. Whether you need a divorce lawyer, a criminal defense lawyer, a personal injury lawyer, or an estate lawyer, get in touch with The Law Office of Jason R. Carpenter.
To learn more or to speak with our Pennsylvania high-asset divorce attorneys, call us at (717) 537-0928 or visit us online.