Key financial experts for your high-asset divorce

On Behalf of | Jul 1, 2024 | High-Asset Divorce |

Divorce is undoubtedly a difficult time, but the stakes can get even higher when high-value assets and investments are hanging in the balance. You might find yourself facing a tangle of property valuations, business interests, investment portfolios and retirement accounts.

Navigating all of this without expert guidance can lead to unfair deals and money problems down the road. To handle these complexities with confidence, you need the right team of financial experts. But who are the crucial professionals you should consider when dealing with a high-asset divorce?

Forensic accountant

Having a complete picture of your financial landscape is vital in a divorce, especially in Virginia, where the “equitable distribution” principle governs the division of marital property. This means the law splits assets fairly but not necessarily equally.

When it comes to high-asset divorces, it is not a rare occurrence for a spouse to try to hide or misrepresent their financial assets to sway property division in their favor. A forensic accountant is a specialized expert who can help uncover these hidden assets and ensure you receive a fair share of marital estate.

Business valuator

If you or your spouse own a business, a business valuator is an essential member of your team. A skilled business valuator will assess your company’s value by examining market conditions, growth potential and industry trends. Their detailed work provides a clear, objective picture of your business’s worth, which becomes invaluable during negotiations or court proceedings.

Financial advisor

While divorce often focuses on dividing current assets, a financial advisor helps you look beyond the immediate settlement to your long-term financial well-being. They can model different settlement options to show how each might affect your financial future and guide you through the tax implications of your every decision. Furthermore, they can assist in creating a realistic budget for your new life circumstances, ensuring financial stability moving forward.

While the prospect of divorce may seem daunting, especially when substantial assets are involved, remember that you do not have to face this journey alone. Having the right financial expertise by your side can make all the difference. With their guidance, you can have a clear understanding of your financial situation and emerge with a solid foundation for your new beginning.