High net worth Divorce
When you work hard to prepare for your future, the prospect of losing what you have acquired due to a marriage ending can be frustrating. High net-worth divorces are often even more challenging because each side has so much at stake.
If you are at the end of your marriage and you own substantial assets, having a Columbia high net-worth divorce lawyer on your side is essential. Our team of trained divorce attorneys could work with you to achieve a positive outcome in your case.
Whether contested or uncontested, divorce can involve complex issues. Our attorneys provide personalized guidance to protect your interests and move you toward resolution.
A Path Forward
Valuable Assets in a High Value Divorce
While homes and bank accounts generally comprise a substantial portion of a couple’s marital estate, high net-worth separations often involve other complex assets. Some of these include:
- Restricted and unrestricted stock options
- Rare collections like art, coins, or antique vehicles
- Publicly and privately-owned businesses
- Investment accounts
- Intellectual property
- Real estate investment trusts
- Pensions, 401(k)s, and IRAs
During a high value divorce, a couple must fully understand all the assets they own and identify if that property was acquired before or after the marriage. A trusted Columbia high net-worth attorney could use this information to negotiate a fair settlement or present someone’s divorce case in court.
Protecting High Net-Worth Property as a Marriage Ends
Marriages involving significant and complex assets can present unique challenges. An experienced attorney in Columbia could assist someone with many critical aspects of a complicated high value divorce.
Asset Valuation
Under state law, judges must divide marital property equitably when a couple separates. A fair asset division depends mainly on an accurate valuation of the couple’s assets. This could include multiple properties, investment accounts, and complex retirement assets. A seasoned legal team works with appraisers, forensic accountants, and other business professionals to value assets appropriately.
Maximizing Tax Benefits
There are multiple tax issues associated with divorce, particularly when it involves significant assets. Any potential tax changes must be factored into the final property division. A capable lawyer has a thorough understanding of how assets are taxed when liquidated or transferred as part of a martial dissolution.
Addressing the Impact of Prenuptial Agreements
Many couples who possess significant assets prior to their marriage may utilize a prenuptial agreement to protect them if they separate. A prenuptial agreement can directly impact a final property division. A knowledgeable attorney could evaluate a prenup to determine whether any issues might render it unenforceable.
Uncovering Hidden Assets in Columbia
Unfortunately, it is all too common for spouses to attempt to hide assets in anticipation of their marriage failing. If someone does not have a complete picture of the couple’s finances, they might not receive their fair share of assets. Accordingly, it is essential to make use of the divorce “discovery” process to uncover any concealed assets.
Discovery in divorce cases involves sending written requests for information to the opposing party, which they must respond to under oath. It may also be necessary to take depositions of the opposing party, their accountants, and their business partners to locate and value all marital assets. A diligent Columbia attorney could review all high value financial documentation to ensure a complete identification of all property in a divorce.
Take the First Step Toward Resolution
Schedule Your Divorce Consultation
Contact Parks, Bryant & Snyder, PLLC to get the support you need for your divorce case.
