Every divorce, like every marriage, is unique. Generally, the longer a couple has been married, and the more assets they have, the more complicated their divorce will be. This is especially true with high net worth individuals and couples, generally defined as individuals and couples with more than $1 million in liquid assets or those with household incomes above $300,000 per year for the past two years who expect to earn the same amount in coming years. Although every divorce is unique, divorces between couples in this category often face similar issues related to their assets. If you are in this category, be sure to work with a divorce lawyer who has specific experience working with high asset couples.
A high asset divorce may require the division of one or more of the following assets:
An issue with many of these assets is that their value is not fixed. Stocks and other investments can vary widely in value from month to month and year to year. With this type of asset, the asset’s risk level and potential to change must be considered alongside its current value.
Aside from the process of dividing additional assets, high asset divorces can involve other considerations. One of these considerations is the tax implications of each asset after it is distributed among the partners. Another is the couple’s lifestyle during their marriage, which can impact how the court awards spousal and child support. This can also impact decisions about how the parents will contribute to their children’s college expenses.
Discuss your goals for the divorce with your lawyer and your partner before you begin the divorce process. If you are not as financially savvy as your partner, be sure to work with your lawyer to investigate your pool of assets completely to determine if your partner is attempting to hide assets.
As part of a high asset couple, you have concerns that individuals in other socioeconomic groups do not have. Make sure your interests and rights are fully represented and supported by working with a divorce lawyer who has experience handling high asset divorces. Contact SAM LAW OFFICE LLC to set up your initial consultation in our office, during which we can look closely at the issues present in your divorce to help you through the property division process.
SAM Law Office, LLC is a recognized area leader in civil, family, and military law. They are currently representing me in a contested divorce; have a firm grasp of the complex legal issues, and create an atmosphere of shared engagement and collaboration involving contentious divorce issues. We are still engaged…
I recommend Brandon. He is a lawyer with a good attitude and very helpful. He helped me understand my situation and feel calmer. Thanks Brandon.
From the moment I met Susan, I felt I was in the proper law firm for what I needed handled. The whole SAM law team was professional. Every time I had a question it was answered to a degree I could understand. I hope I never need an attorney again…
I highly recommend SAM Law to anyone needing legal assistance. They are professional, helpful, and get great results.
I needed a contract written for a financial transaction with another party. I contacted SAM LAW and had a consultation with attorney Brandon Djonlich. Brandon first listened to what I wanted to accomplish in general. He then followed up with questions to fine-tune how the contract would be written. Brandon…