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Mark Abzug

Know about asset and debt division in divorce

On Behalf of | Jun 16, 2017 | High Asset Divorce

A high-asset divorce presents a challenge in many cases simply because of the complexities of the assets and debts. Many people remember that they will have to divide up the marital assets, but you will likely have to divide up the debts too. This might not be as fun as dividing the assets.

We know that you might wonder how you are going to work through all of this. The short answer is that you will take it one decision at a time. In order to ensure that you are working through all of the applicable decisions that must be made, you can make a list of what you know needs to be handled.

In many cases, the process to divide assets and debts isn’t a separated process. Instead, you can use the debts as a way to balance out the assets. This is often necessary in a high-asset divorce because there sometimes isn’t a way to split everything evenly.

Not only do you have to divide the debts that are easily divisible, you also have to divide assets like retirement accounts and investments. These can be challenging because the current face value might not be the same value as what you need to consider in the divorce. We can help you learn about asset valuation so that you can use that information in the division process.

If you and your ex can work through all of the assets and debts come up with an agreement, you might find that the settlement gives you some or most of what you wanted. This can also help you to end the marriage much faster.