Does a high-asset divorce require more expert testimony?
Although every divorce may present unique issues, a court may have fewer precedents involving high-asset divorces. Such cases may be less common, increasing the risk of first impression to the court. Is there a way to minimize these risks?
A recent article provides several scenarios. For example, when there is a business involved with a divorce, the business should be properly valued. That, in turn, may require the testimony of various financial experts. Yet there can be disagreements among experts, especially over something as potentially subjective as a business appraisal.
State divorce laws unfortunately offer little guidance in resolving such asset valuation disputes. Unlike child support guidelines that offer a framework for calculations, a difference of opinion over the valuation of a business may be more vulnerable to the court’s discretion.
Similarly, a high-asset divorce involving children can also raise disagreements in uncharted waters. Whereas state law may set minimum guidelines, applying the best interest of the child standard with high-income parents may ultimately come down to the court’s discretion.
I focus on divorce and other family law issues, and my experience may provide one buffer against unfair outcomes in a high-asset divorce. Specifically, I have experience making strong arguments regarding both the monetary and non-monetary contributions of each party to the marital estate. In addition, I have worked with many experts over the course of my career, and I understand how to present a compelling narrative to the jury to help them resolve such a battle of the experts.
Source: Business Insider, ” How divorces among the rich differ from middle class divorces,” Jacqueline Newman, June 8, 2015