Divorce can be one of the most difficult experiences a person could face, given the emotional strain and legal intricacies it involves. The stakes and stress can be even higher when it involves a substantial amount of assets. This rings especially true in Texas, where the law mandates an equitable, though not necessarily equal, division of marital assets.
If your divorce involves high-value assets, whether it is business, real estate or complex financial investments, having a team of financial experts by your side might be your first step toward securing a fair and stable financial future. Here is a guide to the financial experts who play a pivotal role in high-asset divorces.
Business valuator
If you or your spouse own a business, determining its true value is crucial to asset division. A business valuator looks beyond the books to understand your business’s market position, asset values and future earnings potential.
Forensic accountant
It is not uncommon in high-asset divorces for a spouse to hide assets or income to sway the division of assets in their favor. This is where forensic accountants come into play. Acting as your financial detectives, they dive deep into years of tax returns, bank statements and other financial records to uncover any hidden assets or unreported income.
Real estate appraisers
Real estate often accounts for a substantial share of marital assets. To ensure that property settlements reflect true and current market values, you might need real estate appraisers to provide accurate valuations. They apply professional appraisal standards to address potential disputes, such as those arising from the valuation of the marital home.
Financial advisors
A financial advisor can provide you with a clear picture of the long-term effects of your divorce settlement. From retirement planning to investment advice, they offer strategies to secure your financial health and maintain your lifestyle post-divorce.
If you are going through a high-asset divorce, it is crucial to assemble a team of financial experts to protect your interests and your financial future. You might also consider adding a seasoned divorce attorney to this highly capable team to navigate through the legal intricacies of your case effectively.