Dividing marital assets during a divorce can be tricky. For couples with substantial wealth or high net worth, divorce often involves complex assets such as investments, stock options, savings for retirement, businesses, and professional practices, digital assets, and real estate. Even assets such as jewelry or artwork can present challenges when it comes to the valuation and division of these assets. Working with a skilled divorce lawyer experienced in complex financial issues is essential for these types of divorce cases.
Classifying, Valuing, and Dividing Marital Assets
During many divorces, a couple's assets are a combination of marital and non-marital assets. Any assets acquired before the marriage are non-marital assets, while assets acquired during the marriage are marital assets. However, classifying assets during divorce is rarely this straightforward, and numerous exceptions exist.
Once assets have been identified and classified, the spouses may need to have certain assets professionally appraised. For example, a business valuation expert may be required to correctly determine the value of a spouse’s business or professional practice. A professional appraiser may be needed to determine the worth of jewelry, fine art, or collectibles.
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