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Keep these important assets in mind

In most cases, divorce can be considered a half emotional and half financial event. For the most part, time is the only thing that will help relieve the emotional damage of divorce. Fortunately, plenty can be done about the financial side of divorce. If you are part of a high net worth couple and considering divorce, it's important to keep commonly overlooked assets in mind.

Depending on your situation and the assets involved, filing divorce may have you running toward the China cabinet or after your favorite silver set. While these belongings may be of sentimental value, they may not carry the same long-term value that certain intangible assets do.

During the process of property division, it's common for divorcing spouses to focus on personal belongings that they are familiar with. Although these items must be divided too, they are not necessarily what couples should be focusing on. Couples involved in a high asset divorce usually have other more important assets that should be addressed first. Assets like investments, pensions and life insurance policies may be of substantial value, but are overlooked because they are both out of sight and out of mind, or because spouses believe these assets cannot be divided.

Bank accounts and cash-on-hand are also commonly-disregarded assets but are often substantial enough to warrant a closer look. High asset divorce property division is a highly complex process. In many cases, these divorces have both spouses standing to lose or gain quite a bit. With so much invested and so much on the line, it may be worth speaking to an experienced divorce attorney to get a clearer picture of the divisible property and receive a more beneficial settlement.

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Goddard & Malmquist

Goddard & Malmquist
1250 South Grove Avenue
Suite 101
Barrington, IL 60010

Phone: 847-382-3995
Fax: 847-382-4038
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