Navigating High-Asset Divorce: Complexities, Challenges, and Strategies for Equitable Distribution

Distributing assets in a divorce is never an easy task, but that is particularly true of high-asset divorces. Ensuring that property is equitably split requires experience and knowledge, as the higher the value of a marital estate, the more unique challenges and complexities are involved. If you are a high-net-worth individual approaching divorce, make sure the attorney you select has experience in managing the additional elements and approaches required by your situation.

Some issues you might want to raise before choosing representation include:

  • How will a potential attorney ensure the accurate valuation of any real estate holdings, investment portfolios, art, jewelry, or collectibles that have been purchased during the marriage? What appraisers or specialists do they work with, and how do they manage disputes over ownership of those items?
  • If you own a business, whether with your spouse or on your own, you will want an attorney with knowledge on determining its value, its current financial health and future potential, and the options for selling the business. You may need an attorney whose knowledge includes the ins and outs of partnership dissolution or disassociation, and buyouts.
  • If you signed a prenuptial agreement before you and your spouse married, you will need to provide this to your attorney so that they can gauge its validity and enforceability. This will be critical as you move forward, as most prenuptial agreements are specifically written to address the distribution of assets and wealth.
  • The distribution of valuable assets – and particularly the holdings of investment portfolios – often carries significant tax implications. It is important that your attorney either has expertise in this area or works with tax specialists who can provide guidance on the best approach for your situation.
  • Alimony and child support are among the most acrimonious issues in any divorce but can be especially heated in divorces involving high-net-worth individuals.

In the face of so many potential pitfalls and complexities, it is important that you select an attorney who has a record of success in negotiating fair distributions of property. They should have access to financial advisors, forensic accountants, appraisers, tax professionals, and other experts to help navigate your path forward. For information on our firm’s experience and how we can help, contact us today.