When a marriage ends, splitting a bank account is easy math. However, in divorces involving substantial assets, the most challenging ones to divide are those without a readily apparent price tag. These items require a special method to ensure a fair split.
Here are some of the most common groups associated with these complex assets.
Art or wine collection
That special art or wine collection is more than a hobby; it is a big investment. Therefore, a normal appraisal will be difficult. If you want to find its actual value, you need an appraiser who is an expert in that specific area. These experts base their value on their opinions and the current market.
Stock options and RSUs (Restricted stock units)
This is a special pay for top employees, but it is a promise of future compensation. The main challenge is dividing assets that you do not yet entirely own. You have to find a fair way to split them. Complex tax rules and formulas control this process.
Private equity and venture capital
Unlike company stocks, you cannot sell these investments quickly for cash. This makes it difficult to determine their worth. It takes a money expert who investigates finances to figure out their value for the settlement.
Intellectual property
Did you or your spouse create something new during the marriage, like a book or an invention? The future money from that work is property that belongs to both of you. This raises important questions. Who gets the future earnings? How do you put value on that income now?
Why You Need a Good Lawyer
Handling this money situation is not a job you should do yourself. The risk of getting the value wrong, missing tax issues or agreeing to a bad deal is substantial. That is why it is essential to consult with an experienced family law attorney. Hiring the right lawyer is not just about following the law. It’s about protecting your financial future. It is about making sure the final deal is truly fair.
A good lawyer can act as your team leader. They may bring in the right experts, like forensic accountants and appraisers. Together, this team can work to find, value and make a plan for every asset.
