Divorce is the worst period of a failing marriage. It has both social, psychological, and sometimes huge financial effects, especially to the middle class or upper-class individuals. The financial dents are caused by accrued legal fees, child support (if there are kids involved), things such as alimony and asset splitting.
One of the most complicated assets to split is real estate, these include private homes or investment homes and apartments. There are several ways of going about this issue either through, out of court negotiations or litigation. A high asset divorce attorney will help you face and bypass some of the challenges that arise in such disputes.
The challenges include;
Cases of secret real estate assets
As an individual, you could be having real estate assets that are unknown or vaguely known to your partner. This might motivate a lot of disputes and a lot of time is wastage in the investigations. The challenges are even denser when you accrued most of your assets while you were in a relationship with your partner. A high asset divorce attorney will equip you with legal advice or if need be stand in your defense in a court of law.
The challenge of Shared real estate businesses
In some cases, you might be in a real estate business with your partner. This can pose a new world full of challenges in the event of a divorce. Deciding on who gets to manage what can lead to legal tugs of wars. Again a high assets divorce attorney will offer all the required legal advice or representation in court to cushion you from legal consequences that might not always be fair to you.
Dividing real estate assets is not always easy
Sometimes the courts might order you and your ex-partner to divide your assets out of court. In some cases, this might not work. After all, you are divorcing for a reason, and sharing those highly valued houses or apartments will not always be satisfying to either of you. Seeking the intervention of an attorney will be instrumental in peacefully sharing the real estate asset. Attorneys will negotiate on your behalf and on a neutral ground despite representing your interests.
Inheritance is a big and unique challenge
Picture this; your family leaves you a piece of highly valued real estate as inheritance while you are married, then upon divorcing that inherited real estate becomes part of a divorce dispute. This can be frustrating as well as extremely challenging to handle. This issue, in most cases, cannot be settled out of court. Getting a reasonable attorney will be very instrumental in helping you face the legal aspect of the dispute.
Overseas real estate assets
You might be having a home or investments in houses overseas, in the event of a divorce, this might pose a wide range of legal challenges due to the different laws. The problems might be as a result of conflicting laws covering asset sharing in the event of a divorce and ownership of the properties in question.
Settling such disputes can also be costly in that you might be forced to follow tedious avenues of seeking justice in the countries in question.