Every divorce is challenging in its way. However, being involved in a high asset divorce can have more significant problems to deal with. The stakes in a high asset divorce are much higher when compared to standard divorce and can cost both parties heavily.
There is a high chance that the spouses may lose some essential assets, which can cause more stress throughout the divorce process.
While money is an important point to consider in a high asset divorce, there are several other things. So it is vital to hire a divorce attorney in Columbus, Ohio who is experienced and disciplined about their job.
Furthermore, it is better to do your research too. So below are some additional points you should know about how a high asset divorce is different from a regular divorce.
The most obvious and prominent difference is the quality and quantity of shared marital assets in both divorces. A high asset divorce has a much bigger asset distribution than a regular divorce.
The lesser the property, the less there is to negotiate between the two parties. However, there will likely be more disputes in a high asset divorce than in a normal divorce due to the amount of property and assets involved.
Another thing that distinguishes normal divorce from high asset divorce is the prenup agreement. As a large sum of property is involved, a prenup agreement will sort out community property, personal assets, and the distribution of each asset in case of a divorce.
While such agreements are open to all marital couples, they are more common in high-asset marriages because of the high stakes.
Property distribution is always a head-scratcher in diver cases. However, in a high asset divorce, the nature of the assets is much more intricate. For example, in a high asset divorce, there are multiple pieces of real estate, massive stock portfolios, other assets like antique artworks, etc.
The complexities of the assets increase the pressure of equal distribution and determine the overall valuation of the marital assets.
Evaluation of assets
High-asset divorces are more challenging than normal divorces because of the massive property spread involved. This enormous amount of property is arduous to evaluate, making it more complex.
During evaluating the total shared marital assets, the court and jury must be cautious. They need to ensure they do not miss out on any piece of the property that may become a matter of concern later.