THE DIFFERENCE BETWEEN DIVORCE AND HIGH ASSET DIVORCE
A high asset divorce requires an attorney that specializes in divorce. Obviously, all divorces are difficult. However, a high asset divorce is also legally complex. If you and your spouse acquired a lot together, then you need a highly skilled attorney. Even if you expect to reach an agreement, you need to know what a good agreement would look like, and what it should cover.
If you brought wealth into the marriage, then you will need to prove what is your separate property. If your spouse had separate property, you need a skilled attorney to spot areas where you have obtained an interest in that property.
Most importantly, you need to hire the right law firm. First, you need a law firm led by a board-certified family law attorney. Secondly, you need a law firm that focuses on high net worth divorce cases. Finally, you need the benefit of decades of legal experience. That is to say, you need the attorneys at The Bolton Law Firm on your side. A high asset divorce requires a high asset divorce attorney.
PRESERVING YOUR WEALTH IN YOUR DIVORCE
By comparison, high asset and high income couples have more at risk in a divorce. Therefore, it is critical that you protect your interests and hire the right attorney.
For example, we will help you trace the money that you brought into the marriage. In consequence, you keep it in the divorce. For instance, your inheritance is not community property. By the same token, a business incorporated before marriage is not community property. Therefore, they cannot be divided in a divorce. Unfortunately, proving what is “separate property” can be tricky. Your spouse may claim an interest in your separate property. It is important that your attorney combats these claims. A high asset divorce requires a high asset divorce attorney.
EXPERIENCED WOODLANDS HIGH ASSET DIVORCE ATTORNEYS
The Bolton Law Firm represents clients in high net worth divorces. We take pride in the results we achieve for our clients. You will be in constant contact with your legal team. We help our clients make smart decisions and we protect their financial interests.
KEY LEGAL CONSIDERATIONS IN HIGH ASSET DIVORCES
All divorces involve the same basic issues: division of property, alimony, child support, and child custody. But some additional considerations for a high net worth divorce are:
- How do future taxes affect the value of an asset today?
- What is the value of a minority ownership in investments?
- How do you value a business?
- What personal property should you have appraised and included?
- How is real estate in other states treated?
- How can you prove what is your separate property?
All this underlines that a high asset divorce requires a high asset divorce attorney.
A PRENUPTIAL OR MARITAL PROPERTY AGREEMENT CAN BE KEY
For many couples, a prenuptial or postnuptial agreement is in place. The prenup can dictate what happens during, as well as after a divorce. Some issues addressed by prenups are:
- Payment of attorney fees during the divorce
- Spousal support during the divorce
- Who lives in the marital residence during the divorce
- Spousal support after the divorce
- Ownership and control of a privately held business
- Division of Property
- Treatment of property obtained during the marriage
Your prenuptial agreement needs to be carefully reviewed to determine what it covers and how effective it is. This is one more reason why a high asset divorce requires a high asset divorce attorney.