High asset divorces can be exceedingly difficult to navigate. Due to the nature of these unfortunate disputes, it is not uncommon for a high asset divorce to become very ugly and be drawn out over months or years.
Discovery is the process in which attorneys for both sides of the divorce case make efforts to reveal the full extent of all marital assets so that they can be evenly divided. However, in some cases, one party’s attorney may work to help their client conceal some portion of the assets to prevent the opposing side from getting a portion of those assets.
Any item or property that is considered to be of any significant value will be considered as an asset and be eligible for liquidation and division during discovery:
- Real estate and property
- Vehicles including cars, boats, RVs, motorcycles, etc.
- Art, antiques, collectibles
- Wine collections
- Business Assets
- Stocks, bonds, savings accounts and investment accounts
- Rare coins
These are just some of the most common types of assets that will be divided in the process of the divorce. Your divorce attorney may identify additional assets that pertain to your case.
The best time to consult with an experienced divorce attorney is before you have even spoken to your spouse about the potential of a divorce. The reason for this is that when a lot of assets are involved, one spouse may take your notice of a pending divorce to start trying to hide assets in order to prevent their partner from having access to a portion of those assets. Types of assets commonly hidden include off-shore accounts, business assets, or stocks and bonds. An attorney can assist you in preventing your spouse from being able to hide these assets if you consult with them first.