Divorce that involves property worth millions or billions of dollars may be accompanied by hyped media attention. Successfully mitigating a divorce process in New Jersey may require exceptional legal skills. The concerned couple may need legal advice that ensures they get a fair and desirable settlement.
According to Forbes, a valuation expert is a person who calculates a couple’s current wealth using accepted methods. A valuation expert may be attached to an accounting firm and may execute special tasks. Whereas a valuation expert may conduct an accurate property assessment for average-income individuals, couples with substantial wealth may require a larger accounting firm to determine the value of their holdings.
The value and division of life insurance may be miscalculated during a divorce proceeding. Some people may not regard life insurance as an asset. Life insurance is remarkably different from other forms of insurance, like home and auto insurance. The value of life insurance for wealthy individuals may have reached astronomical levels, and this may provide some difficulty when creating a divorce settlement. Wealthy individuals may use a trust to handle their life insurance policy.
According to CNN, men are less likely than women to change locations because of their wives’ jobs. Women may have compromised their career and personal progress for the sake of a marriage. Also, women may have handled the majority of the household work and taken care of their children. The court may take these factors into consideration when settling a divorce case.
Division of high-valued property may require extensive consultation and experience. Taking a holistic approach may help divorcing couples to arrive at a fair consensus.