What are the benefits of litigation in high asset divorce cases?
Minneapolis attorney Scott Benson of Briol & Associates explains how one spouse might be hiding assets or not know the value of certain assets is a good reason to engage in divorce litigation.
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Normally, as with any divorce case, the best case is to attempt to resolve through negotiation the issues that are involved in that case, so the couple doesn’t have to go to litigation. But, oftentimes, that’s just not people. Oftentimes, one spouse or the other might be intransigent as to disclosing what assets there may be, or they may just not know. They may not have ever undertaken the effort to do an inventory of their assets, or they may not know the value of those assets. And so having experts through the litigation process be able to testify and have somebody determine what the actual value of that asset is is important.
For example, in many cases, if the couple owns a company together, they may not have done a valuation of that company in the last 10, 20, 30 years, and so one may have a drastically different opinion than the other as to the actual value of the company, or the value of the share to which they’re entitled, or the value of the marital effort that was put into increasing the value of that company. And so all of that may have to be resolved in litigation after there’s full and fair opportunity for discovery in those cases.