If you are an Oregon resident considering divorce, it is important to understand how your financial situation may affect the process and the settlement. If you and your spouse have financial assets of substantial worth, a fair divorce settlement may require an in-depth examination and valuation of all of your possessions. At Willamette Valley Legal, we have experience assisting high-net-worth clients through their divorce proceedings.
Discovery may be one of the most crucial phases of your divorce. When there are significant financial considerations at stake, it is essential to locate all existing assets and determine their financial values accurately. There are many types of assets that may be part of the divorce settlement: stocks, investments, retirement savings and even businesses that you may own or invest in. If you have physical property, such as boats, luxury vehicles, jewelry and real estate, those assets should also be part of the settlement. Sometimes you may need to work with experts, such as forensic accountants, to ensure that every asset receives a fair and correct valuation.
While the law requires you and your spouse to disclose all assets, some things may not be part of the initial discovery process. Sometimes assets become "hidden." In many cases, you or your spouse may make a simple mistake and forget to list some things. However, you may also need to consider the possibility that your spouse may deliberately hide assets to manipulate the outcome of the financial settlement.
If your divorce could involve financial assets of high value, the discovery and negotiation phases of the settlement process may require a lot of time and effort. You may learn more about the aspects of high-asset divorce proceedings on our web page.