That question above refers to what is commonly known as a “high-asset divorce,” an event/process that commands appreciable space and attention in family law-focused articles and reports.
Discussion on that topic sometimes splits into two camps.
On the one hand, some people contend that a divorce featuring comparatively outsized wealth primarily differs from a more common decoupling only in magnitude. That is, it features bigger dollar amounts, but the issues needing to be resolved are essentially the same for every marital dissolution.
The answer to that question can fall into two categories.
1) Some people think that a divorce involving high wealth only differs from a more common decoupling in a matter of degree. Meaning, while there are larger dollar amounts involved, the issues remain essentially the same in either case.
2) A high-asset divorce differs in not just the amount, but they are foundationally different from the former category. Because of the high net-worth, there can be a more complex and intricate filing process. In addition to the large monetary value that these divorces deal with, there are also things to consider like:
• Variety of asset types (ranging from bank accounts, investment holdings and trusts to inheritances, collectibles, gifts and more)
• Executive-level company perks (e.g., bonuses, a pension, deferred compensation and stock options)
• Stake in a family business
• Multiple realty holdings
• Intellectual property interests (for example, patent rights or accruing royalties tied to a copyright)
• Assets held in one or multiple offshore accounts
Joe Bustos law is versed in divorce proceedings of all ranges, and can expertly handle the considerable amount of due diligence required for these types of decouplings. Once identified, the assets in play must be accurately valued. This will ensure a fair and equitable distribution Our team has the professional acumen to oversee and manage these proceedings.