High Asset Divorce: What You Don’t Know Can Cost You
Perhaps the most important thing to know about a high asset divorce is that what you don’t know can cost you. It can cost you financially, in the quality of your future life, and perhaps even the lives of any children involved in the process. If you don’t know the following, it can be a cost you.
High Asset Divorces are Different
You should not make the mistake of thinking a high asset divorce is like any other divorce. Some define a high asset divorce as one that involves marital assets of a million dollars or more. Between real estate, retirement accounts, and investments, that’s not hard to reach. This puts a lot at stake, and if it is not taken seriously, it can cost you.
You Should Have Specialized Representation
Since there’s so much at stake, you shouldn’t rely on an attorney without experience in this level of family law. An attorney who has experience and even specializes in high-asset divorces knows what to look for, understands marital and premarital assets, and may even have experience in prenup and postnup agreements.
High Asset Divorces Can Require a Team
If you don’t have the right team representing you, it may be costly. This not only includes that experienced high asset divorce attorney, but a forensic accountant and/or auditor, and perhaps a private investigator. This team looks deep beyond the surface for assets of value and works to establish their current market value. Without a team of financial forensic specialists, some assets may go “misplaced” or undiscovered.
Selecting the Right Mediator
Because of the complexities of high-asset divorces, mediation can often be a good option. When working with a mediator, that mediator should also be experienced in high-asset divorces.
High Asset Divorces Can Take Longer
You should be prepared for a process that can be much longer than a standard divorce. This is particularly true when businesses and real estate are involved. Attempts to rush or hurry up the process may lead to poor decisions and may cost you in the long run.
High Asset Cases Can Be More Costly
Because there is more at stake, high-asset divorces can cost more than a standard divorce. Paying more for excellent, experienced, and specialized representation, however, can be a far better choice than paying for the mistakes of an inexperienced attorney.
If you are facing the prospects of a divorce where significant assets may come into play, getting the appropriate representation is critical. Identifying and valuating assets is crucial, and building the right team is vital. We can help. We are Tampa, Florida’s high asset divorce specialists and can guide you to a successful conclusion. Contact us for a no-cost initial consultation to discuss your case. What you don’t know about high-asset divorces can cost you. We are here to help.
If you have questions about a prenup agreement or a postnup agreement or require legal assistance in other areas of Family Law in Tampa, Florida such as high asset divorce you may always contact Damien McKinney of The McKinney Law Group to discuss your case further. He can be reached by phone at 813-428-3400 or by e-mail at email@example.com.
We now offer virtual prenuptial agreements. Contact us to inquire further about our virtual prenup option.