No divorce is ever easy. However, a high-asset divorce may be particularly more complicated. Having huge assets can present certain problems that two inexperienced people cannot solve independently. Therefore, it is best to hire a Delaware divorce attorney. However, you should also be aware of attorneys who are not experienced in handling high-asset divorces as they can harm your case.
Having a legal expert by your side who is well-versed in divorce proceedings can help you in various ways. You will access financial experts who can help manage and organize your assets.
Reasons to hire an attorney for your high-asset divorce
To locate hidden assets.
If you are going through a high-asset divorce, you can expect your spouse to hide some assets. No matter how good the relations between you may be, you should never assume that they will be faithful to you during a divorce.
The Delaware law requires both parties to create an inventory of all of their assets, but people are still found to hide some. Thus, this is an unlawful activity. If your spouse does this, an attorney can help find these assets using their knowledge, special resources, and connections.
To protect your business.
If your divorce is high-asset, you probably own a business. Some common issues raised during a divorce where the couple owns a business are:
- Determining the property value of the business. The couple needs to find out what the business is worth to divide the amount under the state’s divorce laws.
- Deciding whether one spouse will take the entire business or be divided between the two. Many problems arise during this particular discussion.
- Selling the business, if you want. You may often need or want to sell your business which can be a challenging move.
To identify overlooked property.
Overlooked properties are often confused with hidden assets, but that is not so. Sometimes when a couple has too many assets and properties, they may forget to list one or two while making their inventory. High-asset divorces often include so many properties that it becomes impossible for the average man to remember and list them all. An attorney can help you identify all your properties and prevent overlooking some.
You suspect your spouse of hiding assets.
If you believe your spouse is hiding assets, trust your intuitions. It is not uncommon for spouses to hide assets and keep expensive properties for themselves. Your spouse should not unfairly get more than they deserve. Finding assets is difficult, but hiring an attorney can speed up the process. An attorney that has experience working with forensic accountants and other professionals can help you in this matter.