When it comes to matters of property division, some people have it easier than others. But even if you believe your situation to be relatively simple, you may find that this is not the case as you make your way through the process and begin to review your many assets and debts.
High net worth divorces, in particular, often lead to property division challenges. These need to be addressed without delay, ensuring that both parties understand what’s to happen and how it will impact them now and in the future.
Here are some of the items that can make property division more complex:
— Business ownership.
— Real estate, including vacation homes.
— Stock options and bonds.
— Bank accounts and bonuses.
— Retirement funds, including military pay, IRAs, and pensions among other types.
— Antiques and collectibles, such as sports memorabilia and art.
Before anything can be done, you and your spouse must have an accurate idea of your net worth. From there, it is easier to move forward with property division, although there are sure to be some “sticking points” along the way.
Due to all the challenges valuing the items detailed above, it’s important to work side by side with an experienced law firm. We have helped many people work through property division, eventually ending up in a place they are comfortable.
If you have any questions about property division, if you want to learn more about your situation, don’t hesitate to contact us. You can do so online or via phone. Either way, we are available to help.