One of the most complicated aspects of divorce is the division of a couple’s marital assets, especially for those with valuable assets and a great deal of wealth. Divorce cases involving wealthy spouses and high-value assets can become extremely contentious, often leading to long and drawn-out legal proceedings.
If you are in the midst of or preparing to file/respond to a divorce, you can benefit from the professional help and guidance of a local attorney. Our team can help organize different types of property and work with experts to obtain the most accurate value of various assets and collections. Let a Cherokee County high-asset divorce lawyer at our firm answer your questions and help you assert your property rights in court.
Not all assets owned by married couples are considered marital property. For example, property obtained before marriage will remain under the ownership of the individual and not the couple. Gifts and inheritance would also be excluded from a couple’s divisible marital property. Otherwise, anything acquired after marriage would be subject to equitable distribution upon divorce or separation.
High-net worth spouses often have many complicated and valuable assets to organize and distribute upon divorce. Examples include:
It can be challenging to ascertain the actual value of many of these assets, making it crucial to work with a seasoned lawyer to get the most accurate valuation of any given property. Our legal team can connect you with the resources you need to evaluate your high-net worth assets for a divorce in Cherokee County.
For example, appraisal experts may need to weigh in on the value of certain items to ensure that a high-net worth couple’s assets are divided in a fair and just manner. However, many experts disagree on the value of high-net worth assets, which it is why it is important to retain a skilled divorce attorney who can help you navigate the complex process of property valuation.
Sometimes, wealthy spouses try to misrepresent their net worth by hiding assets in order obtain more property in their divorce and walk away with things the court should have included in its equitable distribution. Additionally, electronic assets like bitcoin can make finding all a person’s assets especially difficult.
For these reasons, it is essential for the court to have a genuine and accurate understanding of the divisible assets during a divorce between high-net worth spouses. If it is discovered that either spouse hid assets from the divorce court, the offending party will be held in contempt of court.
Couples may enter a prenuptial or postnuptial agreement to set the terms of their asset division in case of a future divorce. Prenuptial agreements are signed before marriage, whereas postnuptial agreements are entered into after the couple is married. Cherokee County courts recognize these marital contracts as long as they satisfy certain criteria and are legally enforceable under state law.
When wealthy spouses part ways, the financial implications can be challenging to understand. Let a Cherokee County high-asset divorce lawyer on our team advocate for you throughout the marriage dissolution process. Divorces are undoubtedly stressful, but having an attorney by your side can make for a much smoother process. Call today to learn more.