Divorce under any circumstance is never pleasant.
However, high-asset divorce opens the door to substantially more complications. Consider some of the most common issues.
Complex asset valuation
Spouses in a high net worth divorce often own one or more businesses, have multiple retirement accounts and can account for many investments. They also typically own a substantial amount of personal property.
Part of the process requires various professionals to assess the different types of assets and establish their value. Often this will lead to complications when either spouse starts to dispute the other spouse’s professional valuator.
Sometimes one or both spouses may resort to unethical conduct to gain sole ownership of it. For example, they may hide some income in a new account and claim they lost it. In Indiana, both parties must divulge all assets for the court to determine how assets qualify as marital separate. Attempts to hide assets are not always successful, and the consequences are severe.
Valuing, dividing and distributing foreign assets, including bank accounts, real estate and businesses, can be challenging. The process typically takes longer than dividing domestic assets.
Couples with many streams of income present a greater challenge to the court, especially when determining child support or alimony payments. Sometimes some sources are less steady than others.
All of these issues account for why high-asset divorces typically require lengthy proceedings, taking must longer to resolve than other divorces. This also means they are generally more frustrating for both spouses.