People have long known that divorce requires the careful division of a married couple’s assets and property. Many California couples have spent a great deal of time documenting their finances so that a fair distribution of these assets can take place when the couple ends their marriage. In some cases, couples that have a lot of wealth may find that this division is complex and takes a lot of time to complete.
The very wealthy often have multiple investments as well as significant real estate holdings. This is in addition to extensive personal property, such as jewelry, antiques and art. In a high asset divorce, property division is not a simple matter and may require advice from multiple financial and legal professionals. This kind of advice is necessary to ensure the integrity of the divorce and property division process.
In such cases, one or both spouses may engage the services of a forensic accountant. Forensic accountants specialize in tracking down assets and determining their current and long-term value. These accountants are used to working with divorce attorneys, and their services may be essential in cases were complex asset division is necessary.
A person who is going through a high-asset divorce may find it advisable to enlist the services of an attorney who has experience in these types of family law matters. As California is a community property state, a court will in general divide a divorcing couple’s marital assets and liabilities equally unless the couple can otherwise come to an agreement. The attorney might, in anticipation of entering into negotiations for a property settlement agreement, recommend the services of a forensic accountant to aid in the process.