What You Need To Know About Your High Asset Divorce

While every divorce is as unique as the couple going through it. each divorce case deals with the same issues. Are there children? Then you’ll need to decide what the parenting schedule will be. Where will your child live? Do you have pensions and other retirement accounts? Then you’ll need to divide those up between the two of you. But what about a high earner or high asset divorce?

Common Issues in High Asset Divorce

Your divorce attorney should know how to deal with these complex assets and know-how they should be divided. If your case needs a business valuation, your attorney won’t be doing the actual valuation, but the attorney will have worked with someone who specializes in them. Your attorney is going to know, and be able to orchestrate, how the evidence will come and how to prove the businesses’ worth.

Using a Forensic Accountant in High Asset Divorce

Proving your case is also an important factor. Many people know that their spouse is skimming money from the family business or using creative accounting, but you’ll likely need an expert to prove your case. A high asset divorce lawyer should be familiar with the process.

Using Experts to Value Assets

Seeking Maintenance (aka Alimony) from a High Earner Spouse

1. GET DOCUMENTS.

So what can you do when the person is shredding everything? I’d ask them, are there any envelopes? Envelopes in the garbage can in the office? If necessary, go through your garbage for mail that has been tucked under the regular garbage. No one bothers shredding the envelopes that the mail comes in since they believe it contains no information. But they are wrong. Your lawyer can always subpoena the address on the envelope and find out what type of monies are in that account. One wife we represented found the mail in the trunk of her husband’s car.

Look for it, you will find it.

2. KEEP TRACK OF YOUR EXPENSES.

3. EDUCATE YOURSELF.

4. BE REASONABLE.

The working spouse is also better able to recover in a divorce, so while I don’t advocate giving your estate away, it cannot hurt to be a little generous to avoid the expense and anguish of litigating the case for five years.

Protect Your Assets with An Experience in High Asset Divorce Attorney

THIS ARTICLE WAS PREVIOUSLY PUBLISHED AT: https://illinoislawforyou.com/high-asset-divorce/what-you-need-to-know-high-asset-divorce/

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