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Wise strategies in a high asset divorce

People in Spokane who are ending a marriage and face the complication of a high asset divorce need to keep many things in mind as the proceeding moves forward. There are many issues that will arise and might be in dispute such as property division, how much will be paid in alimony, if there is a disagreement over custody of children and how much will be paid to the custodial parent for their upkeep. There are important tips that people who are taking part in a divorce with a vast amount of assets at stake need to pay attention to.

Contacting what is known as a "valuation expert" is a wise decision. This is an objective individual who will examine the couple's assets and come to a determination as to what it is worth. There are measuring tools that this expert will utilize to come to a number. These experts are often connected to accounting firms and will have a specific title delineating their duties. If there are more specific assets at stake, it might be necessary to get a specialized expert to sift through the finances.

With stock that is in place prior to an IPO or equity placements that are shared by the CEO and the other spouse, the various factors that are in place in the present and might be in place in the future have to be taken into account. If, for example, a portfolio will substantially increase in value once the IPO starts, then that will affect whether or not the spouse who is running the business should share what the proceeds will be before or after the divorce and how much should be shared.

Life insurance policies can also be of massive value and the spouse that earns the money could keep the details of the policy from the other spouse. The lifestyles that the couple shared during the marriage is a major factor in how the assets will be split since, in many instances, the supported spouse will be awarded an amount that will allow the lifestyle to be maintained. High asset divorce is often in the news. They can be contentious and take a long time to settle. The wise choice for those with large financial portfolios prior to moving forward is to discuss the matter with a legal professional experienced in these cases.

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

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