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Understanding the complexities of a high-asset divorce

Divorce may not be an easy topic to think about, but it is a basic reality for many individuals in Quincy who have determined it is no longer in their best interests to remain married. While sometimes a divorce can be amicable, with each spouse parting ways on agreeable terms, this can become complicated in a high-asset divorce. This is because one very personal and sometimes hotly contested issue of both a marriage and divorce is money. And when emotions run high, it is easy to make financial mistakes.

One way for couples to try to work through the money issues of divorce is to hire a valuation expert. Valuation experts are not on the side of one spouse or the other. Instead, they provide the couple with an objective assessment of their wealth, particularly when it comes to family businesses. However, sometimes a specialist is needed to accurately value investment-related interests and portfolios, particularly when it comes to the transfer of ownership.

Another aspect of a high-asset divorce is lifestyle. It is very important for couples to discuss how they are going to financially maintain their lifestyles post divorce. To achieve this, an in-depth measurement of how the couple spent their money during the marriage can help couples come to a fair agreement post-divorce.

A third that comes up in a lot of high-asset divorces is that of life insurance. There is a difference between looking at life insurance as just another insurance policy, like auto or health insurance, and seeing it as an asset. However, life insurance policies can be very valuable, requiring an objective insurance review.

As this shows, there are many considerations that need to be taken into account in a high-asset divorce. Property division issues, alimony and in some cases child custody and support can be difficult to think about when a couple is getting divorced, but they are important topics to cover. With the right help, it is possible for couples in a high-asset divorce to walk away with a fair settlement.

Source: Forbes, "Getting The Most From A High-Dollar Divorce," Russ Alan Prince, Dec. 1, 2014

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