Why You Need A Valuation Expert For A High Asset Divorce
Florida’s equitable distribution scheme requires courts to identify, value and distribute marital assets. Dividing up marital assets during divorce can be difficult for anyone, but the challenges are even greater for high net worth couples. Significant assets such as real estate, retirement accounts, stock options, brokerage accounts, business ownership and life insurance are sometimes difficult to value and may require the help of experts.
Businesses and Partnerships
A valuation expert, for example, can help you minimize and avoid costly mistakes during divorce settlements. Valuation experts provide objective, accurate assessments of a couple’s financial assets using conventionally accepted metrics and measures. Valuation experts are commonly staffed accounting firms, but some may also work as consultants. Hiring a valuation expert is a great idea for couples that own a privately held company, family business or partnership interest.
More specialized knowledge may be required, however, to properly evaluate and divide investment related interests. To find that expertise, you can hire a divorce financial expert with investment management experience. Such experts deal regularly with high asset investment portfolios and can help you navigate complex situations such as the distribution, transfer or the sale of stock.
Another unique asset that high net worth individuals should consider during divorce negotiations is life insurance. Many people view life insurance like auto or home insurance and do not see it as an asset. This is a common mistake, and it is one you should avoid.
High net worth individuals may amass significant value in their life insurance with little understanding of how this asset should be accounted for during divorce. Life insurance policies are structured in a variety of ways depending on the needs of the policyholder, and can be difficult to understand. It is not uncommon for couples going through a high asset divorce to enlist the help of a professional with expert knowledge of life insurance to determine the current value of their policies.
For high net worth couples, it is important to take a holistic approach to valuing assets. While doing so may require the help of hired experts, you will avoid leaving money on the table.
Contact Us Today for Assistance
If you have questions regarding your high asset divorce, contact our family law attorneys at Arwani Law Firm, PLLC. We have handled complicated high asset divorces, and we are confident that our team can provide you with the legal assistance and attention that your case requires.