Going through a divorce can be a stressful time in the lives of both spouses. Especially in the case of a high asset divorce, it can become even more tiresome to anguish over the allocation of each spouse’s assets. There is enough that a person must deal with when going through this difficult time. So worry not, and leave the work to the Hicksville Divorce Lawyer of Simonetti & Associates. Here we can help pair you with the best financial experts tailored to your specific needs.
The importance of financial experts in a high asset divorce
When coping with the hardship of a divorce, this can bring about emotional and financial strain upon each spouse. Couples who have accumulated a higher number of assets usually correlate with a higher level of complexity when dealing with the breakdown of finances. Seeking the aid of financial experts as well as valuation experts and forensic accountants at the Hicksville Divorce Lawyer of Simonetti & Associates will allow you to protect your assets and ensure that there is an equitable distribution of those assets.
Hidden Assets
In a divorce case, honesty is always a concern in regards to hidden assets. Each spouse has a legal obligation to disclose all information regarding their assets in all forms. In these situations, a valuation expert is especially useful when a spouse is thought to have concealed assets. Ways that a spouse will attempt to conceal an asset is transferring them to an account that their former spouse is unaware of. Also, commonly a spouse will undervalue a property, such as a small business, in attempts to prevent their former spouse from claiming any available assets contributed to that. The advice from a valuation expert or forensic accountant will ensure that there will be no hidden assets by the conclusion of the case.
Overlooked Assets
Similar to hidden assets, valuation experts, as well as forensic accounts, can help to uncover any assets that may be difficult to place a price value on. For example, certain collectibles or artwork may be impossible to identify a dollar-price and the assistance of a Hicksville divorce lawyer and financial experts may be just what you need in these types of situations. Additionally, life insurance policies consist of a large amount of value especially for couples with a higher net worth. When couples do not seek out the guidance of these financial experts, many of these policies go unnoticed and each party can result in a loss of assets.
The help from our lawyers and experts here at Simonetti & Associates will allow you to receive honest, trustworthy and quality care in the process of your divorce. In the event that you are concerned that you are not receiving a fair distribution of assets during your divorce case, refer to our financial experts to let us uncover any hidden or overlooked assets. A high asset divorce can bring about complexities in a divorce case. Our financial experts can guarantee that there will be a fair and equitable agreement in the final divorce settlement.
We offer free consultations to those interested in working with us.
