Know the expenses that come with assets, as well as the value

On Behalf of | Jun 4, 2018 | High Asset Divorce |

A high asset divorce often involves having to divide up assets that are complex and intertwined. In these cases, you need to make sure that you are considering the facts and looking at how various scenarios can help or harm you. One mistake that many people make is trying to walk away with the biggest assets. Even though it might seem like having things like the marital home or vacation home might be preferable, these can sometimes lead to headaches down the road.

We realize that you want to end the marriage with the biggest share of what you and your ex amassed. Instead of looking at this from an emotional standpoint and thinking in those terms, you need to look at what the asset will mean to you in the future.

Now that you are on your own, you have to count only on your own income. High ticket assets like vacation homes can come with a steep cost. Will your budget now allow you to easily pay for the mortgage, upkeep, insurance and other expenses related to these high ticket items? If the answer is no, you might need to bypass trying to hang on to the asset.

In some cases, the challenge doesn’t come in the form of the future costs of the asset. Instead, you might need to have assets valuated. Stocks and retirement accounts have a set worth now, but the actual value might change. When valuating assets, you have to account for the future of the asset. This is where someone who is familiar with valuation might be able to help you some. We can help you find the tools you need to address the property division issues that might manifest.

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