If you are currently going through the divorce process and you have multiple high-value assets, there is a very good chance that you are worried about what will happen to those assets in the equitable distribution process. Please continue reading and speak with our knowledgeable California divorce attorneys to learn more about high-value assets and divorce and how we can fight to protect your hard-earned assets. Here are some of the questions you may have:
How are high-value assets valuated in a divorce?
Oftentimes, when individuals own luxury or high-value assets, they will look to hire a third-party assessor to determine the value of those assets. In many cases, these individuals will have to specialize in these possessions, which are often antiques, fine art, collectibles, and more. These assessors will have to determine the book value of your items, the price individuals are willing to pay for those items, and whether there is currently a hot market for those items.
How are high-value assets divided in divorces?
In many cases, high-value assets will be subjected to equitable distribution, just as most other marital assets will be. This means that multiple properties, vacation homes, luxury vehicles, fine art & collectibles, club memberships, and more will all be on the line. You should also understand that in most cases, the phrase “equitable” does not mean “equal,” and oftentimes, one spouse will end up receiving a greater portion of marital assets than the other spouse. For this reason, it is critical that you hire an experienced attorney who can fight for your hard-earned and high-value assets.
Should I sell high-value assets during my divorce?
In many cases, as long as you and your spouse can agree upon selling certain high-value items and splitting the money, this may be your best option. Oftentimes, assets that are sentimental to a marriage are better off simply being sold, both to help with finances and to help move on with life. In other cases, when spouses have marital debt or would like to use cash from selling certain high-value assets to pay for their divorce, this can also be a strong option. Additionally, there are certain assets that are oftentimes simply too expensive to keep as a single adult, which may also be a good reason to simply sell those assets and split the money. If you have any additional questions, please do not hesitate to give us a call today. We are here to help.
Contact our experienced Los Angeles firm
Divorce and family law issues are notoriously complicated and personal, which is why you must hire an attorney with years of experience, as well as the compassion and skill needed to handle these sensitive matters. For the qualified, dedicated legal representation you and your family deserve and need, contact Zitser Family Law Group, APC today.