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DeShon Laraye Pullen PLC Board certified Family Law Specialist*

Potential landmines in high-asset divorces

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While nearly all divorces involve the complicated process of valuing and prioritizing assets, things can get especially difficult in divorces involving high assets or business interests. When high-value assets are being counted and valued, even a seemingly-minor mistake can cost one of the parties tens or hundreds of thousands.

When one or both spouses own a business interest, it can further complicate the property division process. Many businesses demand a comprehensive valuation analysis to determine their true worth; a careful review of the business ledger or excel spreadsheets is not nearly enough. If one of the spouses is a high-level executive, he or she may have stock or business interests that are difficult to value and may be saddled with contingencies regarding their ownership or sales.

Another important asset that one or more of the spouses may erroneously overlook is life insurance. A high-value life insurance policy may require the creation of a trust account, in case a claim is ever made on the policy. Life insurance can be a crucial component for maintaining a particular standard of life in a foreseeable future.

That brings us to a third commonly-overlooked aspect of high-value divorces: Lifestyle. When one or more parties have grown accustomed to a particular lifestyle or standard of life, it can be an important consideration in divorce. This may necessitate a detailed examination of how money was spent during the marriage.

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DeShon Laraye Pullen PLC and founding attorney DeShon Laraye Pullen received many prestigious honors, including: Small Firm of the Year, Family Law Litigator of the Year, selection to Arizona Super Lawyers and a Superb, 10.0 Avvo rating.

Rated by Super Lawyers | Deshon Pullen AVVO Rating 10.0 Superb | Top Attorney Family AVVO Clients Choice 2012 | Family Super Lawyers Attorney At Law Magazine | Specialty Law Firm Deshon Pullen Sustain Member | Arizona's Finest Lawyers Top Lawyer 2013