When you own significant assets and you're considering separation, you should be aware that a high net worth divorce can get extremely complicated. Undergoing such an important transition in life requires the support of an experienced high asset divorce attorney who can make a difference and help ensure your future well-being.
A trustworthy attorney who understands your case better than anyone else during such an intense life change is an essential ally who can help you build an accurate and thorough depiction of your financial and marital situation. The Law Offices of Sean M. Cleary is prepared to assist you and your family and get you through the long-term implications of a high asset divorce while protecting your interests.
Avoid Making Significant Financial Decisions Without Consulting Your High Net Divorce Attorney
Going through a high asset divorce represents a complex process that is not only limited to dividing the money and current assets but also involves:
- ongoing obligations
- potential income and expenses
- present and future tax liabilities
When it comes to a high net worth divorce, there are various aspects to consider that are not only limited to physical property and liquid assets. An experienced high net worth divorce legal team will help you strategize all financial decisions to ensure the most beneficial outcome and equitable distribution. A couple involved in a high asset divorce case must account for:
- Business assets - company vehicles, commercial property, office fixtures and furniture, technological equipment, intellectual property.
- Real estate - properties obtained during marriage are subjected to the same division rules as other assets.
- Inheritance - individually inherited assets could be subject to division if they are commingled with marital assets or if the division is necessary for maintaining the other spouse's standard of living.
- Vehicles - Automobiles or boats represent high-value assets that are easy to move or hide, so parting couples should thoroughly catalog all vehicles acquired during marriage.
- Jewelry - if one party inherits or receives jewelry as a gift, it may be considered separate property instead.
- Art, antiques, and collectibles - such assets tend to be easier for spouses to conceal, and so it's advisable to account for these assets early on during the high net worth divorce proceedings.
- Retirement accounts - any portion of a 401(k), IRA, or other retirement account earned during marriage is considered marital property, as well as interest or gains pertaining to prior retirement funds.
- Investments - valuation can become challenging when professional licenses or business shares are involved.
- Offshore accounts - international laws may be convoluted at times, and the process a delicate one when hidden or protected assets are concerned.
Sean M. Cleary Ensures Quality Legal Assistance in Your High Asset Divorce
Hiring a divorce lawyer comes with numerous legal advantages. It is not recommended to proceed in a high net worth divorce without the guidance of a qualified divorce attorney, who can also help you expedite the process and avoid unnecessary payments, taxes, and other related issues. The Law Offices of Sean M. Cleary will look out for the best result for your high net worth divorce case and ensure a fair asset distribution.
Our seasoned legal professionals will guide you through every step of the process and work diligently to secure the best possible outcome.
We have the expertise and necessary resources to provide the legal representation you deserve during your high asset divorce.