One of the most important things in a high-asset divorce is properly figuring out your net worth as a couple. The Maryland court will expect that you do a complete job of determining the value of all your assets so they can be properly divided. This is where asset valuation comes in.
According to AICPA, asset valuation is determining how much your assets are worth. You probably have a variety of assets, some of which may have varying values. This includes retirement accounts and stocks that have values that could go up and down. Then, there are assets with set values or values that change gradually. A vehicle, for example, would have a slowly changing value.
You have to begin valuing assets by figuring out what assets you have. It is important to list every single asset. This means anything you and your spouse have that is worth money. Do not forget about intangible assets.
Then, you need professional help to figure out values for every asset. If you have complex assets, then you will have complex valuations. You probably will not be able to do this yourself. It is a good idea to involve a professional anyway to ensure objectivity and accuracy.
You can use the information you get from doing asset valuation to help as you work towards a divorce agreement. It will enable you to negotiate better to get what you want and know that any divisions of property are fair. This information is for education. It is not legal advice.