Cumming High-Asset Divorce Lawyer
Divorce can be complex, contentious, and emotionally draining, even under the best of circumstances. When the spouses have a high net-worth, the issues that come up become even more complicated.
An experienced Cumming high-asset divorce lawyer is well-prepared to handle the challenging division of assets between wealthy spouses. Our skilled team of divorce attorneys works with experts and other financial professionals to ensure an equitable division of the couple’s assets and debts during the dissolution of their marriage.
What Defines a High-Asset Divorce?
When people imagine a divorce between high net-worth spouses, they often think of a couple with expensive houses or investment accounts. In reality, a high net-worth divorce involves many complex assets and varied sources of income. Issues that spouses must address in high-asset marriage dissolution include:
- Real estate investments;
- Vested and unvested stock options;
- Bonuses, stock options, and deferred compensation;
- Intellectual property;
- International investment holdings;
- Professional practices like doctors, lawyers, and accountants; and
- Rare antiques and collections.
When preparing for a divorce that involves complex property, it is essential to identify all assets that may be divisible between the spouses. A qualified high-asset divorce attorney in Cumming can thoroughly examine all a couple’s property interests and help ensure a fair division of their marital assets.
Unique Challenges in High-Asset Marriage Dissolution
Because of the substantial amount of property a high net-worth couple owns, spouses may face issues that other couples do not have to address during a divorce. Some of these unique challenges may involve:
- Either spouse liquidating accounts to prevent the other from receiving their fair share;
- Either spouse claiming less income than they actually earn;
- Either spouse transferring property to a third party to hide it from the other and the court;
- Accurately valuing complex property due to the subjective nature of the asset;
- Disputes involving the classification of property as marital or non-marital;
- Difficulty ascertaining a spouse’s interest in a business involving numerous other investors; or
- Substantial tax implications when transferring or liquidating high-value property.
Navigating a divorce when significant assets are involved without guidance from a practiced attorney can place wealthy spouses at a significant disadvantage. Skilled legal counsel can make the difference between a favorable result and an inequitable distribution of valuable property.
Role of Experts in a Cumming High-Asset Divorce
High net-worth individuals often acquire substantial and complex assets during their marriage. As such, it may be necessary to consult with experts who can identify and value their property accurately if they decide to divorce.
Forensic Accountants
Forensic accountants analyze financial information to assess a couple’s economic situation. When the spouses have substantial wealth, an experienced high-asset divorce attorney can work with these professionals to determine the location of certain assets, manage their accounts, and identify whether they have acquired any debt.
Business Valuation Experts
High-asset divorces commonly involve privately owned businesses. A capable high-asset divorce attorney could work closely with a business valuation expert to determine the extent of either spouse’s business interest and whether it is marital or non-marital property.
Appraisers
Many high net-worth couples own various types of real property, including homes, timeshares, and commercial land development. Additionally, valuable personal property such as rare wine collections and antiques may compromise a portion of a couple’s marital estate. Licensed appraisers could accurately evaluate these assets, enabling divorcing spouses to effectively negotiate an equitable division of their valuable assets.
Let a Cumming Attorney Help Navigate the Complexities of a High-Asset Divorce
When you have worked hard all your life to build wealth, it is difficult to think of losing a significant part of it in a divorce. You certainly understand that some property must be shared between you and your spouse, but you want to ensure the division is fair to you and your family.
If you are considering divorce involving high-asset property division issues, it is vital to work with legal counsel experienced in dealing with high-net-worth spouses and the related complex challenges that can come up. Call our legal team to schedule an appointment with a Cumming high-asset divorce lawyer today.
