If you are preparing for or considering divorce and are worried about your high-valued assets, you may want to enlist the help of an experienced divorce attorney. There is no law defining a high net worth divorce, instead such a divorce usually involves millions of dollars in assets. There are no standards or qualifications of high net worth, and it is very subjective. For these reasons, you should call an Atlanta high net worth divorce lawyer to help you understand the types of assets that could be at stake in your case.
Prenuptial agreements are often created in marriages where a significant amount of money is at stake, as they determine how things will be divided and handled if a divorce occurs. A prenuptial agreement can make the divorce process go a lot more smoothly in high net worth divorce cases.
Assets such as closely held businesses, where only one party has a minority ownership interest, can cause issues when trying to settle or divide a marital estate. The courts usually do not have the authority to transfer that party’s interest in the company to the other spouse, so dividing the value thereof may be difficult if there are insufficient assets to offset this value. Other complexities that can happen in high asset divorces involve trusts or property that has been transferred into trusts. If the marital property is transferred into a trust and the marriage no longer owns it, that could subject the transferring party to claims of fraudulent transfer, breach of fiduciary duty, and more. A seasoned high net worth divorce lawyer in Atlanta could advocate for an individual and help them with the process of dividing assets.
In the event that the couple’s assets involve international holdings or foreign assets, the law is in those jurisdictions would govern what can be done with those assets. Alternatively, having enough domestic assets to offset the international ones can make things easier. A divorce attorney representing the spouse without international holdings or foreign assets could ask for assets to offset that, such as domestic assets, alimony, promissory notes, and secured notes. An Atlanta high net worth divorce attorney could also get forensic accountants and business evaluation experts to trace the assets and conduct research to help ensure that there will not be an unequal distribution or understatement of the assets.
The courts usually consider inherited assets as non-marital property. However, if the inherited assets are placed in a jointly titled asset or are commingled with other marital assets, the courts would likely consider those as marital property.
If you need help preparing for a divorce involving high net worth assets, consider speaking with a skilled attorney about what to expect. Call an Atlanta high net worth divorce lawyer today for help with evaluating and organizing your marital and non-marital property. Let an experienced attorney advocate on your behalf.