Some people only need legal advice when preparing for a divorce, but others require more robust support. Those who are divorcing after longer marriages that resulted in the accumulation of significant assets often require professional support as they prepare for divorce proceedings.
People bring in outside experts to ensure they obtain a fair outcome after navigating the property division process. Lawyers help with the division of marital property and they can help someone with the process of negotiating with their spouse and/or presenting their case in family court.
However, values on assets may need to be provided by home appraisers, business appraisers and other financial and tax experts. These additional professionals can potentially help those who own complex assets prepare for their divorce process.
1. A real estate agent or appraiser
For many married couples, their primary home and other real estate holdings will be their most valuable asset. What the couple paid for the home could be far less than what it is worth on the current market, which means that an expert’s valuation is often necessary. A real estate agent or appraiser can help set fair market values for real properties based on what similar properties currently sell for on the local market.
2. A forensic accountant
A forensic accountant can analyze bank statements, tax returns and other financial records to identify signs of financial misconduct, like the dissipation of marital assets or an attempt to hide shared property.
They can also help determine how much certain assets are worth, such as businesses. Such valuations can be incredibly complex, and reaching an accurate valuation will be of the utmost importance for divorcing spouses.
Only those who understand what their property is truly worth can demand a fair outcome during the property division process. As a result, consulting knowledgeable professionals can make all the difference for those who are preparing for an upcoming complex divorce.
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