High asset divorce and the collaborative process

High asset collaborative divorceFor many parties going through a divorce, they might have lots of assets. From a marital home, vacation homes, investment accounts, retirement accounts and other lucrative assets, those going through a divorce with a high net worth have lots of concerns.

At the same time, many individuals who have substantial assets would like to resolve their divorce amicably outside of court. They do not want to put their life in the hands of a judge. They also might not want to litigate their case.

For these kinds of situations, a collaborative divorce can be a good option for an individual to consider. In a high asset, collaborative divorce, a financial neutral can be utilized.

The financial neutral can be helpful in all kinds of ways, including looking at the tax considerations associated with the division of marital property and debt. For example, depending on what assets or liabilities a party may take as part of a divorce settlement, there can be tax concerns.

In other cases, the parties might need to have assets valuated. For example, from real estate, to business interests, stock options or other lucrative assets, it can be critical for parties to know the value. The financial neutral can help ensure this takes place.

In some cases, a party might have brought into separate assets prior to the marriage. The financial neutral might be able to help trace these assets out. The same can be true for gifts and inheritance.

Parties who have significant assets often do not have simple divorces. While they might want to settle, the collaborative process can often help assist in getting the case resolved with the assistance of a financial neutral.

The financial details can often be key to getting a case settled. The collaborative divorce is particularly suited to helping individuals in this situation.

Author: Kirk C. Stange, Esq.

Kirk Stange is a Founding Partner at Stange Law Firm, PC.

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