Getting divorced with high-value assets requires a meticulous strategy to prevent potentially costly mistakes. Understanding how to avoid these errors is critical to protect one’s financial health. Here are a couple of tips for navigating a high-net-worth divorce in Missouri.
Insufficient financial planning
Individuals going through a high-asset divorce would be wise to engage in comprehensive financial planning with the help of financial experts and forensic accountants. These professionals can help a person with a larger investment portfolio featuring diverse financial accounts, stocks and bonds determine the proper way to divide these assets and understand the associated tax implications. Engaging financial professionals may help people with high-value assets understand today’s financial landscape and avoid surprises that may lead to a rocky divorce process.
Undervaluing marital property
High-net-worth individuals may also benefit from relying on appraisers to accurately value their marital assets. Unbiased appraisals may help establish foundations for equitable property division during divorce. They might also help prevent disputes about perceived property values between the two parties going through divorce.
How a family law attorney can help
A family law attorney in Missouri may help an individual with high-value assets confidently navigate property and debt distribution at the negotiation table. If the individual cannot find common ground in these areas with the other party, the attorney will be prepared to litigate these matters in divorce court. The attorney’s goal will be to achieve the most personally favorable outcome for his or her client given the circumstances surrounding the marital breakup.
