It might be true that wealthy couples both achieved and maintained their wealth through careful and constant attention, but that does not necessarily mean that the exact value of any given asset is never in question. When couples in Colorado who share a high net worth decide to end their marriage and file for divorce, it is likely that complex property division will be part of the process. When determining who should receive what, accurate asset valuation can be of utmost importance.
While couples with little property might have no complications when it comes to asset valuation, the process can become significantly more complex when assets are tied to businesses or titled in trusts. Rental properties, multiple bank accounts and various investments can be tricky to value. Because of this, an increasing number of couples choose to bring in expert help before ever stepping a foot into negotiations.
Forensic accountants are experts at determining value and income. These professionals can even track down finances that have been shifted between accounts or sheltered in dummy businesses. For some, it might be difficult to imagine a person going to such great depths to hide only one aspect of their overall worth, but even a small percentage can make an enormous difference during a high asset divorce.
Divorce can sometimes be complicated enough without one party attempting to conceal assets or hide their true value. Although many issues between divorcing couples — including complex property division — can be addressed and worked through during negotiations, it is virtually impossible to come away with a fair settlement when no one is truly sure what anything is worth. Asset valuation is an often underrated but invaluable tool for Colorado couples to complete the most favorable divorce agreement possible.
Source: Forbes, “When The Wealthy Divorce, They Regularly Engage Forensic Accountants“, Russ Alan Prince, Sept. 22, 2015