
How Does High Asset Divorce Differ from “Traditional” Divorce
When one or more spouses have a high net worth, the legal dissolution of the marriage would be considered a high-asset divorce. Protecting the couple’s wealth and assets becomes a unique issue to address in these types of divorces. While it may be similar in some ways, there are many ways high-asset divorce differs from “traditional” divorce.
How It’s Similar
Some of the most shared traits between a high-asset divorce and a “traditional” divorce are:
- Dividing marital property fairly
- Setting spousal support payments
- Providing both spouses with what they’re entitled to receive
How It’s Different
One of the most obvious differences between a high-asset divorce and a “traditional” divorce is the number and value of the assets present in the case. Complex asset valuation and figuring out legal ownership come into play with high-asset divorce. Assets might be:
- Real estate
- Business interests
- Investments
- Intellectual property
- Other high-financial-value items
Be aware that intangible assets may also be part of the separation amount. These intangible assets may include:
- Retirement accounts (401ks or IRAs)
- Stock options
- Deferred compensation
- Other items
Settlement negotiations also tend to be a bit more complicated in a high-asset divorce as opposed to a “traditional” divorce. Dividing high-asset wealth to fairly compensate each party takes more work due to the sheer amount involved. Having a legal team in place that understands the tax laws that may impact asset distribution is also paramount to the case. As mentioned, a high-asset divorce commonly has a team of legal and other experts like tax attorneys and financial advisors to help navigate the split properly and fairly for both soon-to-be ex-spouses.
Hiring a law firm familiar with high-asset divorce proceedings and splitting of property will significantly impact how you are protected and your future. No matter how complicated or complex your divorce might be, the Summit County, Hoover Kaycon Attorneys at Law are here to answer your questions and help you through the process. We deliver the highest quality legal representation from a team of professionals while also providing excellent customer service. Call us at
330-922-4491 or
contact us
online to make an appointment.
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