Common Issues in High Asset Divorces

High-asset divorce can be complex and highly contentious. When a couple has significant assets, there are often many issues to consider, and the stakes can be very high. Anyone heading into a high-asset divorce should be aware of what to expect as they begin the process. Remember, a divorce attorney is an invaluable resource, as they will ensure your rights are protected throughout proceedings and that your best interests can be passionately defended at all times. 

Division of Assets

One of the most significant issues in a high-asset divorce is the division of assets. Couples with substantial wealth may have multiple properties, investments, businesses, and other assets that must be divided. In some cases, it may be necessary to value these assets, which can be a complex process in and of itself.

Spousal Support

In a high-asset divorce, spousal support can be a significant issue. For example, one spouse may have been financially dependent on the other or have significantly higher income or assets than the other. Determining an appropriate amount of spousal support can be challenging, as it may require the input of financial professionals. 

Business Interests

Couples with significant wealth may own businesses that must be divided or valued. This can be a complex process, and it may require the input of financial professionals or business valuation specialists. Sometimes, selling a business or dividing ownership between spouses may be necessary. 

Tax Implications

High-asset divorces can have significant tax implications. Dividing or selling assets can trigger capital gains taxes or other taxes that must be considered. Working with financial professionals may be necessary to understand the tax implications of a high-asset divorce.

Asset Protection

In some cases, one spouse may attempt to hide or undervalue assets in a high-asset divorce. Your attorney should be able to identify potential issues and ensure that all assets are accounted for. 

Child Custody 

High-asset divorces can also involve complex child custody issues. In some cases, one parent may seek to limit the other parent's access to the children or use their wealth to gain an advantage in custody negotiations. It is essential to prioritize the children's best interests and work with an experienced attorney to navigate these issues.

Contact a Fort Worth, Texas High Asset Divorce Attorney

In any divorce case, working with an experienced attorney is highly important. But when it comes to high-asset divorce, working with a seasoned attorney is absolutely essential. For experienced legal representation, contact the astute Fort Worth, Texas high asset divorce lawyers with Hatton & Hatton, PLLC. Call 817-349-8120 for a free consultation.

Source:

https://www.forbes.com/sites/russalanprince/2014/12/01/getting-the-most-from-a-high-dollar-divorce/?sh=1d00b0277d66